Geron Corporation Announces Appointment of Jim Ziegler as Chief Commercial Officer

Rhea-AI Summary

Geron (Nasdaq: GERN) has appointed Jim Ziegler as Executive Vice President and Chief Commercial Officer, effective September 9, 2024. Ziegler, with over 25 years of biopharmaceutical industry experience, will lead Geron's global commercial strategy and operations, focusing on driving growth for RYTELO™. He joins from Iovance Biotherapeutics, where he led the U.S. commercial launch of Amtagvi™. Previously, Ziegler held key roles at Gilead Sciences, Biogen, Amgen, and Pfizer.

In connection with his appointment, Geron granted Ziegler a non-statutory stock option to purchase 1,600,000 shares of common stock at $4.41 per share, vesting over four years. This grant was made as a material inducement to employment under Nasdaq Listing Rule 5635(c)(4).

Positive

• Appointment of experienced commercial leader with 25+ years in biopharmaceutical industry
• New CCO has track record in successful product launches and leading high-performing teams
• Potential for improved commercial strategy and operations for RYTELO™
• Encouraging uptake of RYTELO™ since its launch in June 2024

Negative

• Significant stock option grant may lead to future dilution for existing shareholders

FOSTER CITY, Calif.--(BUSINESS WIRE)-- Geron Corporation (Nasdaq: GERN), a commercial-stage biopharmaceutical company aiming to change lives by changing the course of blood cancer, announced the appointment of Jim Ziegler as Executive Vice President, Chief Commercial Officer, effective today, September 9, 2024. In this role, Mr. Ziegler will spearhead Geron’s global commercial strategy and operations, lead the commercial organization and be responsible for driving growth of RYTELO™. Mr. Ziegler has more than 25 years of commercial experience in the biopharmaceutical industry, spanning leadership, strategic and operational roles in both large and smaller organizations.

“Jim brings to Geron an impressive track record of operational excellence, having led multiple high performing teams through product launches. We are thrilled to welcome Jim at this critical time when RYTELO is commercially available in the U.S. and we are seeing encouraging uptake since its launch at the end of June 2024,” said John A. Scarlett, M.D., Chairman and Chief Executive Officer. “In addition to having operational experience in functional areas of commercial teams that were key to the success of new product launches, including national sales organizations, global marketing, and market access and strategy, Jim has also demonstrated deep leadership capabilities across organizations that we believe will help us maximize the commercial potential of RYTELO and drive long-term value for our business.”

Mr. Ziegler joins Geron from Iovance Biotherapeutics, Inc., where he served as Executive Vice President, Commercial, with global responsibilities for the company’s novel autologous cell therapy program and led the U.S. commercial launch of Amtagvi™ for patients with previously treated advanced melanoma. Previously, he served in numerous commercial roles at Gilead Sciences, Inc., most recently as Vice President, Cardiopulmonary and Inflammation Business Unit. He also led the U.S. launch team for Gilead’s first approved oncology product and supported the launch of several multibillion-dollar antiviral products for the human immunodeficiency virus (HIV) and hepatitis (HCV and HBV) franchises. His earlier experience included commercial roles of increasing responsibility at Biogen, Amgen and Pfizer. Prior to the biopharmaceutical industry, he served as an Armor Officer in the U.S. Army. Mr. Ziegler received a B.S. from the United States Military Academy at West Point and an M.B.A. from the University of Chicago.

“I am delighted to join Geron at this pivotal moment. Geron already has a strong commercial organization and infrastructure in place, and I look forward to partnering with the team to drive a successful U.S. launch and the commercial potential of RYTELO. It is an honor to join an organization with a mission to change lives by changing the course of blood cancer,” said Mr. Ziegler.

Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

In connection with the commencement of Mr. Ziegler’s employment with Geron on September 9, 2024, the Company granted him a non-statutory stock option to purchase an aggregate of 1,600,000 shares of Geron common stock. The stock option was granted on September 9, 2024, at an exercise price of $4.41 per share, which is equal to the closing price of Geron common stock on the date of grant. The stock option has a 10-year term and vests over four years, with 12.5% of the shares underlying the option vesting on the six-month anniversary of commencement of employment and the remaining shares vesting over the following 42 months in equal installments of whole shares, subject to continued employment with Geron through the applicable vesting dates. The stock option was granted as a material inducement to employment in accordance with Nasdaq Listing Rule 5635(c)(4) and is subject to the terms and conditions of the stock option agreement covering the grant and Geron’s 2018 Inducement Award Plan, which was adopted December 14, 2018, and provides for the granting of stock options to new employees.

About Geron

Geron is a commercial-stage biopharmaceutical company aiming to change lives by changing the course of blood cancer. Our first-in-class telomerase inhibitor RYTELO™ (imetelstat) is approved in the United States for the treatment of certain adult patients with lower-risk myelodysplastic syndromes (LR-MDS) with transfusion dependent anemia. We are also conducting a pivotal Phase 3 clinical trial of imetelstat in JAK-inhibitor relapsed/refractory myelofibrosis (R/R MF), as well as studies in other myeloid hematologic malignancies. Inhibiting telomerase activity, which is increased in malignant stem and progenitor cells in the bone marrow, aims to reduce proliferation and induce death of malignant cells. To learn more, visit www.geron.com or follow us on LinkedIn.

Use of Forward-Looking Statements

Except for the historical information contained herein, this press release contains forward-looking statements made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such statements, include, without limitation, those regarding: (i) the encouraging uptake of RYTELO that the Company is seeing since its launch at the end of June 2024; (ii) the Company’s belief that Mr. Ziegler brings operational experience and deep leadership capabilities that will help maximize the commercial potential of RYTELO and drive long-term value for the Company’s business; (iii) Mr. Ziegler’s goal to drive a successful U.S. launch and the commercial potential of RYTELO; and (iv) other statements that are not historical facts, constitute forward-looking statements. These forward-looking statements involve risks and uncertainties that can cause actual results to differ materially from those in such forward-looking statements. These risks and uncertainties, include, without limitation, risks and uncertainties related to: (a) whether Geron is successful in commercializing RYTELO (imetelstat) for the treatment of patients with LR-MDS with transfusion dependent anemia; (b) whether Geron overcomes potential delays and other adverse impacts caused by enrollment, clinical, safety, efficacy, technical, scientific, intellectual property, manufacturing and regulatory challenges in order to have the financial resources for and meet expected timelines and planned milestones; (c) whether regulatory authorities permit the further development of imetelstat on a timely basis, or at all, without any clinical holds; (d) whether any future safety or efficacy results of imetelstat treatment cause the benefit-risk profile of imetelstat to become unacceptable; (e) whether imetelstat actually demonstrates disease-modifying activity in patients and the ability to target the malignant stem and progenitor cells of the underlying disease; (f) that Geron may seek to raise substantial additional capital in order to continue the development and commercialization of imetelstat; (g) whether Geron meets its post-marketing requirements and commitments in the U.S. for RYTELO for the treatment of patients with LR-MDS with transfusion dependent anemia; (h) whether there are failures or delays in manufacturing or supplying sufficient quantities of imetelstat or other clinical trial materials that impact commercialization of RYTELO or the continuation of the IMpactMF trial; (i) that the projected timing for the interim and final analyses of the IMpactMF trial may vary depending on actual enrollment and death rates in the trial; and (j) whether the EMA will approve RYTELO for the treatment of patients with LR-MDS with transfusion dependent anemia and whether the FDA and EMA will approve imetelstat for other indications on the timelines expected, or at all. Additional information on the above risks and uncertainties and additional risks, uncertainties and factors that could cause actual results to differ materially from those in the forward-looking statements are contained in Geron’s filings and periodic reports filed with the Securities and Exchange Commission under the heading “Risk Factors” and elsewhere in such filings and reports, including Geron’s quarterly report on Form 10-Q for the quarter ended June 30, 2024, and subsequent filings and reports by Geron. Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made, and the facts and assumptions underlying the forward-looking statements may change. Except as required by law, Geron disclaims any obligation to update these forward-looking statements to reflect future information, events, or circumstances.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240909302656/en/

Aron Feingold

Vice President, Investor Relations and Corporate Communications

Kristen Kelleher

Associate Director, Investor Relations and Corporate Communications

investor@geron.com

media@geron.com

Source: Geron Corporation

FAQ

Who is Geron 's new Chief Commercial Officer?

Jim Ziegler has been appointed as Geron 's new Executive Vice President and Chief Commercial Officer, effective September 9, 2024.

What is Jim Ziegler's background before joining Geron (GERN)?

Jim Ziegler has over 25 years of experience in the biopharmaceutical industry. He previously worked at Iovance Biotherapeutics, Gilead Sciences, Biogen, Amgen, and Pfizer, holding various commercial leadership roles.

What are Jim Ziegler's main responsibilities at Geron (GERN)?

As Chief Commercial Officer, Jim Ziegler will lead Geron's global commercial strategy and operations, head the commercial organization, and be responsible for driving growth of RYTELO™.

What stock options were granted to Jim Ziegler upon joining Geron (GERN)?

Geron granted Jim Ziegler a non-statutory stock option to purchase 1,600,000 shares of common stock at $4.41 per share, vesting over four years, as a material inducement to employment.