Geron Corporation Announces Chief Commercial Officer to Depart at End of August 2024

Rhea-AI Summary

Geron (Nasdaq: GERN) announced that Anil Kapur, Executive Vice President, Corporate Strategy and Chief Commercial Officer, will depart the company on August 31, 2024. A search for a new Chief Commercial Officer is underway. In the interim, Andrew Grethlein, Ph.D., Executive Vice President, Chief Operating Officer, will lead the commercial organization, supported by Board member Dawn Carter Bir.

The company expressed confidence in the uptake of RYTELO™ in its first month of launch and the positive customer feedback. CEO John A. Scarlett thanked Kapur for his contributions over the past five years, particularly in defining RYTELO's potential market and building a strong commercial organization.

Positive

• Positive uptake of RYTELO™ in the first month of launch
• Positive customer feedback for RYTELO™
• Confidence in the existing commercial leadership team to maintain momentum

Negative

• Departure of Chief Commercial Officer Anil Kapur
• Potential disruption in commercial strategy during leadership transition

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, today announced that Anil Kapur, Executive Vice President, Corporate Strategy and Chief Commercial Officer, will depart the Company on August 31, 2024, to pursue other interests. A search for a new Chief Commercial Officer is already underway, and in the interim, Andrew Grethlein, Ph.D., Executive Vice President, Chief Operating Officer, will serve as leader of the commercial organization. Geron Board of Directors member Dawn Carter Bir, who has led numerous successful new product launches, including as Chief Commercial Officer of Reata Pharmaceuticals and as Vice President, Sales at Pharmacyclics, will support Dr. Grethlein in this interim role with additional oversight of the commercial business.

“We are encouraged by the uptake of RYTELO™ we are seeing in the first month of launch and by the positive feedback from customers and are confident that our seasoned commercial leadership team will continue to drive this momentum going forward,” said John A. Scarlett, M.D., Chairman and Chief Executive Officer. “We thank Anil for his significant contributions to our business over the past five years, particularly his strategic vision to define the potential market for RYTELO, his articulation of its value proposition and his foundational leadership in building a strong commercial organization, which I believe has positioned Geron for long-term success. We wish him the best in his future endeavors.”

“It has been an honor to serve Geron and our mission to change lives by changing the course of blood cancer,” said Anil Kapur. “I am deeply grateful to have had the opportunity to build an outstanding commercial team at Geron and look forward to the future success of the company.”

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 FDA-approved for the treatment of adult patients with lower-risk 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 hematologic malignancies. Inhibiting telomerase activity, which is increased in malignant stem and progenitor cells in the bone marrow, aims to potentially 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) Geron’s search for a new Chief Commercial Officer; (ii) Geron’s views of the progress of the commercial launch of RYTELO in the first month of launch and expectations of continued momentum going forward; (iii) Geron’s commercial organization being structured to position the company for success; 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 March 31, 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/20240723088779/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

When is Geron's Chief Commercial Officer Anil Kapur leaving the company?

Anil Kapur will depart Geron (GERN) on August 31, 2024.

Who will lead Geron's commercial organization after Anil Kapur's departure?

Andrew Grethlein, Ph.D., Executive Vice President and Chief Operating Officer, will lead the commercial organization in the interim, supported by Board member Dawn Carter Bir.

What is the status of RYTELO's launch according to Geron (GERN)?

Geron reports encouraging uptake of RYTELO™ in the first month of launch and positive feedback from customers.

Is Geron (GERN) searching for a new Chief Commercial Officer?

Yes, Geron has already initiated a search for a new Chief Commercial Officer.