Geron Corporation Shares Plunge Following Decision to Halt Imetelstat Clinical Trial
Geron Corporation (GERN) shares fell by more than 20% on Wednesday after the company announced it would discontinue a late-stage clinical trial for its lead asset, imetelstat (marketed as Rytelo). The decision follows emerging concerns regarding the drug's efficacy in patients. The halt of this pivotal trial represents a significant setback for the cancer drugmaker, as imetelstat is central to Geron's long-term growth strategy. Investors reacted sharply to the news, reflecting uncertainty surrounding the company's primary development pipeline and future regulatory prospects.