Geron's Core Rytelo Business Remains on Track Despite Trial Halt, Wedbush Says

12:33 PM EDT, 10/28/2026 (MT Newswires) -- Geron (GERN) remains well positioned to grow sales of its approved blood-disorder treatment Rytelo despite the discontinuation of a late-stage study of imetelstat in myelofibrosis, Wedbush Securities said Wednesday in a report. The halted phase 3 trial does not materially change the outlook for Rytelo in lower-risk myelodysplastic syndromes, the drug's approved indication and Geron's key commercial growth driver, the report said. Physicians' views of Rytelo are unlikely to be significantly affected because no new safety concerns emerged from the study, and the trial's discontinuation does not fundamentally undermine confidence in the drug's underlying biology, the report said. Wedbush cited Rytelo's preferred-treatment status in National Comprehensive Cancer Network guidelines, continued growth in ordering accounts and upcoming data readouts in earlier-line treatment settings as potential drivers of future adoption. The report noted that Rytelo generated $57.5 million in Q2 revenue and that management pointed to the upper end of its full-year revenue guidance range of $220 million to $240 million. Wedbush lowered its price target on Geron stock to $5 from $6 to reflect the removal of potential myelofibrosis revenue from its model while maintaining its outperform rating. Price: 0.98, Change: -0.17, Percent Change: -15.04