A biopharmaceutical company which is developing first-in-class therapeutic products for the treatment of cancer and chronic degenerative diseases, including spinal cord injury, heart failure, diabetes and HIV/AIDS.
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It's been a bad second half of 2011 for Geron. In May they had a bloated market cap over 600M, two early stage cancer drugs, and a stuttering stem cell program for spinal cord injury. Over the next few months the share price declined as it became clear that stem cell therapies are still highly speculative, and Geron's program in particular was listing heavily. In November, the share price reached new all-time lows after the company announced that they would be shelving their stem cell programs until further notice in order to concentrate resources on taxane derivative GRN1005 and telomerase inhibitor imetelstat.
Now that the dust has cleared, Geron's stock is still on the ropes giving the company an enterprise value of 44M for the two phase II oncology programs. Imetelstat in particular is encouraging, with phase II data in NSCLC, breast cancer, essential thrombocytopenia, and multiple myeloma expected before the end of 2012. Two phase II trials of GRN1005 were recently initiated as well. There's no guarantee that either of these drugs will bring phase II success, but with 142M in cash Geron has the resources to bring this story to a conclusion.