BUZZ - Jialong shares drop due to termination of late-stage cancer clinical trial

Latest Updates

October 28 - ** Geron (GERN.O) shares fell by 20.6% to 91 cents

** The company will terminate its late-stage clinical trial (link) for a treatment drug targeting patients with a rare type of blood cancer

** The company had been testing a drug called Rytelo, used to treat a rare type of blood cancer known as myelofibrosis

** The company made this decision based on the recommendation of an independent data monitoring committee, which determined that the trial was unlikely to achieve its primary goal—overall survival

** The company stated it would conduct a detailed analysis of the data and release the research results at a later date

** “Geron had previously been evaluating external collaboration opportunities, but was reluctant to take action before knowing the trial results. Now that this uncertainty has been removed, business development may become an increasingly important source of flexibility for the product pipeline” — TD Cowen

** Including intraday fluctuations, the stock has fallen 31.8% so far this year

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