Geron Corporation Reports Second Quarter 2024 Financial Results and Business Highlights
Geron (Nasdaq: GERN) announced Q2 2024 financial results and business highlights. The company launched its first commercial product, RYTELO™, in June 2024, for lower-risk myelodysplastic syndromes (LR-MDS) patients with transfusion-dependent anemia. By July 31, approximately 160 patients were treated with RYTELO. The National Comprehensive Cancer Network updated its guidelines to include RYTELO as a treatment for LR-MDS. Geron's Phase 3 IMpactMF trial achieved 70% enrollment. The company reported $882,000 in total quarterly revenue, a significant increase from $29,000 in Q2 2023. However, Geron also reported a net loss of $67.4 million, increased from $49.2 million year-over-year. Total operating expenses rose to $70.2 million due to higher launch costs and headcount increases.
Geron projects total operating expenses for FY 2024 to be between $270 million and $280 million. The company has $430.4 million in cash and equivalents, expected to fund operations into Q2 2026.
Geron (Nasdaq: GERN) ha annunciato i risultati finanziari del secondo trimestre 2024 e i punti salienti aziendali. L'azienda ha lanciato il suo primo prodotto commerciale, RYTELO™, a giugno 2024, per pazienti con sindromi mielodisplastiche a basso rischio (LR-MDS) con anemia da trasfusione. Entro il 31 luglio, circa 160 pazienti erano stati trattati con RYTELO. Il National Comprehensive Cancer Network ha aggiornato le sue linee guida per includere RYTELO come trattamento per LR-MDS. Il trial IMpactMF di fase 3 di Geron ha raggiunto il 70% di arruolamento. L'azienda ha riportato ricavi trimestrali totali di 882.000 dollari, un significativo aumento rispetto a 29.000 dollari nel secondo trimestre del 2023. Tuttavia, Geron ha anche riportato una perdita netta di 67,4 milioni di dollari, aumentata rispetto ai 49,2 milioni di dollari dell'anno precedente. Le spese operative totali sono aumentate a 70,2 milioni di dollari a causa di maggiori costi di lancio e di un incremento del personale.
Geron prevede che le spese operative totali per l'anno fiscale 2024 siano tra 270 milioni e 280 milioni di dollari. L'azienda ha 430,4 milioni di dollari in contante e equivalenti, che si prevede finanzieranno le operazioni fino al secondo trimestre del 2026.
Geron (Nasdaq: GERN) anunció los resultados financieros del segundo trimestre de 2024 y los aspectos destacados del negocio. La compañía lanzó su primer producto comercial, RYTELO™, en junio de 2024, para pacientes con síndromes mielodisplásicos de bajo riesgo (LR-MDS) con anemia dependiente de transfusiones. Para el 31 de julio, aproximadamente 160 pacientes habían sido tratados con RYTELO. La Red Nacional Integral del Cáncer actualizó sus guías para incluir RYTELO como tratamiento para LR-MDS. El ensayo IMpactMF de fase 3 de Geron logró un 70% de inscripción. La compañía reportó ingresos totales trimestrales de 882,000 dólares, un aumento significativo en comparación con los 29,000 dólares en el segundo trimestre de 2023. Sin embargo, Geron también reportó una pérdida neta de 67.4 millones de dólares, un aumento desde los 49.2 millones de dólares del año anterior. Los gastos operativos totales aumentaron a 70.2 millones de dólares debido a mayores costos de lanzamiento y a un incremento en el personal.
Geron proyecta que los gastos operativos totales para el año fiscal 2024 estarán entre 270 millones y 280 millones de dólares. La compañía tiene 430.4 millones de dólares en efectivo y equivalentes, que se esperan financien las operaciones hasta el segundo trimestre de 2026.
제론 (Nasdaq: GERN)은 2024년 2분기 재무 결과 및 사업 주요 사항을 발표했습니다. 이 회사는 2024년 6월에 RYTELO™를 처음상용화하여 수혈 의존성 빈혈이 있는 저위험 골수형성이상증후군(LR-MDS) 환자를 위한 제품을 출시했습니다. 7월 31일까지 약 160명의 환자가 RYTELO로 치료되었습니다. 미국 국가 종합암 네트워크(NCCN)는 LR-MDS 치료제로 RYTELO를 포함하도록 가이드라인을 업데이트했습니다. 제론의 3상 IMpactMF 임상시험은 70%의 등록률을 기록했습니다. 이 회사는 2분기 2023년 29,000달러에서 크게 증가한 총 분기 수익 882,000달러를 보고했습니다. 그러나 제론은 연간 49.2백만 달러에서 증가한 순손실 67.4백만 달러도 보고했습니다. 총 운영 비용은 출시 비용 증가 및 직원 수 증가로 인해 70.2백만 달러로 상승했습니다.
제론은 2024 회계연도 총 운영 비용이 2억 7천만 달러에서 2억 8천만 달러 사이가 될 것으로 예상하고 있습니다. 이 회사는 현금 및 현금성 자산으로 4억 3천만 달러를 보유하고 있으며, 이는 2026년 2분기까지 운영 자금을 지원할 것으로 예상됩니다.
Geron (Nasdaq: GERN) a annoncé les résultats financiers du deuxième trimestre 2024 et les points forts de l'entreprise. La société a lancé son premier produit commercial, RYTELO™, en juin 2024, pour des patients atteints de syndromes myélodysplasiques à faible risque (LR-MDS) avec une anémie dépendante des transfusions. Au 31 juillet, environ 160 patients avaient été traités avec RYTELO. Le National Comprehensive Cancer Network a mis à jour ses lignes directrices pour inclure RYTELO comme traitement des LR-MDS. L'essai IMpactMF de phase 3 de Geron a atteint 70 % d'inscription. La société a rapporté un chiffre d'affaires trimestriel total de 882 000 dollars, une augmentation significative par rapport à 29 000 dollars au deuxième trimestre 2023. Cependant, Geron a également signalé une perte nette de 67,4 millions de dollars, en hausse par rapport à 49,2 millions de dollars d'une année sur l'autre. Les dépenses d'exploitation totales ont augmenté à 70,2 millions de dollars en raison des coûts de lancement plus élevés et de l'augmentation des effectifs.
Geron projette que les dépenses d'exploitation totales pour l'exercice fiscal 2024 se chiffreront entre 270 millions et 280 millions de dollars. L'entreprise dispose de 430,4 millions de dollars en espèces et équivalents, qui devraient financer ses opérations jusqu'au deuxième trimestre 2026.
Geron (Nasdaq: GERN) hat die finanziellen Ergebnisse für das zweite Quartal 2024 und die geschäftlichen Höhepunkte veröffentlicht. Das Unternehmen brachte im Juni 2024 sein erstes kommerzielles Produkt, RYTELO™, für Patienten mit niedrigem Risiko von myelodysplastischen Syndromen (LR-MDS) und transfusionsabhängiger Anämie auf den Markt. Bis zum 31. Juli wurden etwa 160 Patienten mit RYTELO behandelt. Das National Comprehensive Cancer Network aktualisierte seine Richtlinien, um RYTELO als Behandlung für LR-MDS aufzunehmen. Die Phase-3-IMpactMF-Studie von Geron erreichte eine Einschreibungsrate von 70 %. Das Unternehmen berichtete von einem Gesamtertrag von 882.000 US-Dollar im Quartal, was einen erheblichen Anstieg gegenüber 29.000 US-Dollar im zweiten Quartal 2023 darstellt. Geron berichtete jedoch auch von einem Nettoverlust von 67,4 Millionen US-Dollar, was einen Anstieg gegenüber 49,2 Millionen US-Dollar im Jahresvergleich bedeutet. Die Gesamtbetriebskosten stiegen auf 70,2 Millionen US-Dollar, was auf höhere Einführungskosten und eine Erhöhung des Personalbestands zurückzuführen ist.
Geron prognostiziert, dass die Gesamtkosten für das Geschäftsjahr 2024 zwischen 270 Millionen und 280 Millionen US-Dollar liegen werden. Das Unternehmen verfügt über 430,4 Millionen US-Dollar in liquiden Mitteln und Äquivalenten, die voraussichtlich die Geschäftsführung bis zum zweiten Quartal 2026 unterstützen werden.
- Approval of RYTELO by FDA for LR-MDS treatment.
- Launch of RYTELO, with an early uptake of 160 patients by July 31, 2024.
- Total quarterly revenue increased to $882,000 from $29,000 year-over-year.
- NCCN updated guidelines to include RYTELO for LR-MDS.
- Net loss increased to $67.4 million from $49.2 million year-over-year.
- Total operating expenses rose to $70.2 million from $52.0 million year-over-year.
- Significant increase in selling, general, and administrative expenses due to higher launch costs and headcount.
Insights
Geron's Q2 2024 results reveal a significant milestone with the launch of RYTELO, their first commercial product. The company reported
The cash position remains strong at
While the net loss has widened, it's typical for biotech companies transitioning to commercial operations. The key focus now is on RYTELO's market penetration and revenue growth in the coming quarters.
The approval and launch of RYTELO for lower-risk myelodysplastic syndromes (LR-MDS) with transfusion-dependent anemia is a significant advancement in the field. Its inclusion in the NCCN Guidelines® as a Category 1 and 2A treatment option underscores its clinical importance.
The early uptake of approximately 160 patients receiving RYTELO within six weeks of launch is encouraging. This suggests a strong unmet need in the LR-MDS patient population, particularly for those who are relapsed/refractory to or ineligible for erythropoiesis-stimulating agents (ESAs).
The ongoing Phase 3 IMpactMF trial for myelofibrosis, now at
Geron's commercial launch of RYTELO shows promising early traction. The company's field teams have already interacted with
The inclusion in NCCN Guidelines® is a important win, as it influences clinical decision-making, prescriber behavior and reimbursement decisions. This could accelerate RYTELO's adoption and potentially position it as a standard-of-care for eligible LR-MDS patients.
The market opportunity appears significant, given the unmet need in LR-MDS patients with transfusion-dependent anemia. However, investors should closely monitor upcoming quarterly results to gauge the rate of market penetration and revenue growth. The planned expansion to 230-260 employees by year-end 2024 suggests confidence in the commercial potential and the need for infrastructure to support growth.
NCCN Guidelines® updated to include the use of RYTELO in both RS+ and RS- patients for second-line treatment of symptomatic anemia in patients with lower-risk MDS and for first-line treatment of patients who are ESA ineligible (serum EPO >500 mU/mL)
“We are thrilled to have begun the launch of RYTELO, our first commercial product, in June, and are encouraged by the early success we are seeing and the reception from the medical community over these first six weeks," said John A. Scarlett, M.D., Geron’s Chairman and Chief Executive Officer. "Our field teams have mobilized efficiently and have already interacted with approximately
Business Highlights
-
Received approval on June 6, 2024 from the
U.S. Food & Drug Administration (FDA) of RYTELO for the treatment of adult patients with low- to intermediate-1 risk myelodysplastic syndromes (LR-MDS) with transfusion-dependent (TD) anemia requiring four or more red blood cell units over eight weeks who have not responded to or have lost response to or are ineligible for erythropoiesis-stimulating agents (ESAs). -
Launched RYTELO commercially in the
U.S. , with both dosage strengths available for prescribers to order from specialty distributors as of June 27, 2024. - The National Comprehensive Cancer Network® (NCCN®) updated the MDS NCCN Clinical Practice Guidelines in Oncology (NCCN Guidelines®) to include RYTELO for the treatment of symptomatic anemia in patients with LR-MDS. For both RS+ and RS- patients, RYTELO has a Category 1 designation for second-line treatment regardless of first-line treatment and a Category 2A designation for first-line treatment of patients who are ESA ineligible (serum EPO >500 mU/mL).
-
Achieved approximately
70% enrollment in the Phase 3 IMpactMF trial of imetelstat as of August 2024, which has a primary endpoint of overall survival, in patients with myelofibrosis (MF) who are relapsed/refractory to JAK-inhibitors. As previously disclosed, based on the most recent planning assumptions for enrollment and death rates in the trial, an interim analysis is expected in early 2026 (when approximately35% of planned enrolled patients have died) and final analysis is expected in early 2027 (when approximately50% of planned enrolled patients have died). - Expanded the dose level 4 cohort (imetelstat 9.4 mg/kg) in the Part 1 dose-finding stage of the Phase 1 IMproveMF study evaluating imetelstat as a combination therapy with ruxolitinib in patients with frontline MF. This followed a unanimous decision by the study’s Safety Evaluation Team (SET), who in July 2024 reviewed data from the first three patients in the dose level 4 cohort and identified no dose-limiting toxicities.
Second Quarter 2024 Financial Results
As of June 30, 2024 the Company had approximately
Net Loss
For the three and six months ended June 30, 2024, the Company reported a net loss of
Revenues
Total product revenue, net for the three and six months ended June 30, 2024, was approximately
Total net revenues for the three and six months ended June 30, 2024, were
Operating Expenses
Total operating expenses for the three and six months ended June 30, 2024 were
Cost of goods sold was approximately
Research and development expenses for the three months and six months ended June 30, 2024 were
Selling, general and administrative expenses for the three and six months ended June 30, 2024 were
Interest income was
Interest expense was
2024 Financial Guidance
For fiscal year 2024, we expect total operating expenses to be in the range of approximately
Based on our current operating plans and assumptions, we believe that our existing cash, cash equivalents, and marketable securities, together with projected revenues from
As of June 30, 2024, we had 220 full-time employees. We plan to grow to a total of approximately 230-260 employees by year-end 2024.
Conference Call
Geron will host a conference call at 8:00 a.m. ET on Thursday, August 8, 2024, to discuss business updates and second quarter financial results.
A live webcast of the conference call and related presentation will be available on the Company’s website at www.geron.com/investors/events. An archive of the webcast will be available on the Company’s website for 30 days.
Participants may access the webcast by registering online using the following link, https://events.q4inc.com/attendee/182024239
About RYTELO (imetelstat)
RYTELO (imetelstat) is an FDA-approved oligonucleotide telomerase inhibitor for the treatment of adult patients with low-to-intermediate-1 risk myelodysplastic syndromes (LR-MDS) with transfusion-dependent anemia requiring four or more red blood cell units over eight weeks who have not responded to or have lost response to or are ineligible for erythropoiesis-stimulating agents (ESAs). It is indicated to be administered as an intravenous infusion over two hours every four weeks.
RYTELO is a first-in-class treatment that works by inhibiting telomerase enzymatic activity. Telomeres are protective caps at the end of chromosomes that naturally shorten each time a cell divides. In LR-MDS, abnormal bone marrow cells often express the enzyme telomerase, which rebuilds those telomeres, allowing for uncontrolled cell division. Developed and exclusively owned by Geron, RYTELO is the first and only telomerase inhibitor approved by the
Geron aims to ensure broad access to RYTELO for eligible patients. Accordingly, our REACH4RYTELO™ Patient Support Program provides a range of resources that support access and affordability to eligible patients prescribed RYTELO.
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.
About IMpactMF Phase 3
IMpactMF is an open label, randomized, controlled Phase 3 clinical trial with registrational intent. The trial is designed to enroll approximately 320 patients with intermediate-2 or high-risk myelofibrosis (MF) who are relapsed after or refractory to prior treatment with a JAK inhibitor, also referred to as relapsed/refractory MF. Patients will be randomized to receive either imetelstat or best available therapy. The primary endpoint is overall survival (OS). Key secondary endpoints include symptom response, spleen response, progression free survival, complete remission, partial remission, clinical improvement, duration of response, safety, pharmacokinetics, and patient reported outcomes. IMpactMF is currently enrolling patients. For further information about IMpactMF, including enrollment criteria, locations and current status, visit ClinicalTrials.gov/study/NCT04576156.
About IMproveMF
IMproveMF is a single arm, open label, two-part Phase 1 study to evaluate the safety, pharmacokinetics, pharmacodynamics and clinical activity of imetelstat in combination with ruxolitinib as a frontline treatment in patients with intermediate-2 or high-risk MF (frontline MF). In both parts, patients will receive ruxolitinib followed by imetelstat, a dosing schedule that showed synergistic and additive effects of the two agents in preclinical experiments. Part 1 will enroll up to 20 frontline MF patients who, at the time of enrollment, have received an optimized dose of ruxolitinib, to which imetelstat treatment will be added at increasing dose levels based on safety and tolerability. The primary purpose of Part 1 is to identify a safe dose for treating frontline MF patients with a combination of imetelstat and ruxolitinib. If a safe dose is identified in Part 1, participants in Part 2 will be JAK inhibitor naïve and will receive treatment with ruxolitinib after screening and enrollment at a starting dose based on standard-of-care or local prescribing information. Treatment with single-agent ruxolitinib will continue for at least 12 weeks, including four consecutive weeks at a stable dose prior to the addition of imetelstat. Part 2 is designed to confirm the safety profile of imetelstat in combination with ruxolitinib and to evaluate for preliminary clinical activity of the combination.
IMPORTANT SAFETY INFORMATION ABOUT RYTELO
WARNINGS AND PRECAUTIONS
Thrombocytopenia
RYTELO can cause thrombocytopenia based on laboratory values. In the clinical trial, new or worsening Grade 3 or 4 decreased platelets occurred in
Monitor patients with thrombocytopenia for bleeding. Monitor complete blood cell counts prior to initiation of RYTELO, weekly for the first two cycles, prior to each cycle thereafter, and as clinically indicated. Administer platelet transfusions as appropriate. Delay the next cycle and resume at the same or reduced dose, or discontinue as recommended.
Neutropenia
RYTELO can cause neutropenia based on laboratory values. In the clinical trial, new or worsening Grade 3 or 4 decreased neutrophils occurred in
Monitor patients with Grade 3 or 4 neutropenia for infections, including sepsis. Monitor complete blood cell counts prior to initiation of RYTELO, weekly for the first two cycles, prior to each cycle thereafter, and as clinically indicated. Administer growth factors and anti-infective therapies for treatment or prophylaxis as appropriate. Delay the next cycle and resume at the same or reduced dose, or discontinue as recommended.
Infusion-Related Reactions
RYTELO can cause infusion-related reactions. In the clinical trial, infusion-related reactions occurred in
Premedicate patients at least 30 minutes prior to infusion with diphenhydramine and hydrocortisone as recommended and monitor patients for one hour following the infusion as recommended. Manage symptoms of infusion-related reactions with supportive care and infusion interruptions, decrease infusion rate, or permanently discontinue as recommended.
Embryo-Fetal Toxicity
RYTELO can cause embryo-fetal harm when administered to a pregnant woman. Advise pregnant women of the potential risk to a fetus. Advise females of reproductive potential to use effective contraception during treatment with RYTELO and for 1 week after the last dose.
ADVERSE REACTIONS
Serious adverse reactions occurred in
Most common adverse reactions (≥
Please see RYTELO (imetelstat) full Prescribing Information, including Medication Guide, available at https://pi.geron.com/products/US/pi/rytelo_pi.pdf.
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 Company’s views, estimates and expectations concerning the commercial launch of RYTELO, including estimates of accounts reached and patients receiving RYTELO; (ii) the potential impact on clinical decision-making, prescriber behavior and reimbursement decisions of the inclusion of RYTELO in the NCCN Guidelines as a Category 1 and 2A treatment of symptomatic anemia in patients with lower-risk MDS; (iii) the Company seeing increasing dialogue among hematologists rethinking treatment approaches for eligible patients with lower-risk MDS with transfusion-dependent anemia, regardless of ring sideroblast status, and the Company’s belief that RYTELO can become part of the standard-of-care for these patients; (iv) that the interim analysis of IMpactMF is expected in early 2026 and the final analysis is expected in early 2027; (v) the Company’s projections and expectations regarding the sufficiency of its cash resources and expected available resources to fund its projected operating requirements into Q2 2026, and the assumptions underlying such projections and expectations; (vi) the Company’s projections for total operating expenses for fiscal 2024 and employee headcount as of the end of 2024; (vii) that inhibiting telomerase activity aims to potentially reduce proliferation and induce death of malignant cells; (viii) that Geron aims to ensure broad access to RYTELO; (ix) that IMpactMF has registrational intent; and (x) 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
Financial table follows.
GERON CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
|
|||||||||||||||
|
Three Months Ended |
Six Months Ended |
|||||||||||||
|
June 30, |
June 30, |
|||||||||||||
(In thousands, except share and per share data) |
2024 |
|
2023 |
|
2024 |
|
2023 |
|
|||||||
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
(Unaudited) |
|||||||||||
Revenues: |
|
|
|
|
|||||||||||
Product revenue, net |
$ |
780 |
|
$ |
- |
|
$ |
780 |
|
$ |
- |
|
|||
Royalties |
|
102 |
|
|
29 |
|
|
406 |
|
|
50 |
|
|||
|
|
882 |
|
|
29 |
|
|
1,186 |
|
|
50 |
|
|||
Operating expenses: |
|
|
|
|
|
|
|
|
|||||||
Cost of goods sold |
|
17 |
|
|
- |
|
|
17 |
|
|
- |
|
|||
Research and development |
|
30,779 |
|
|
35,490 |
|
|
60,152 |
|
|
62,709 |
|
|||
Selling, general and administrative |
|
39,419 |
|
|
16,490 |
|
|
66,484 |
|
|
29,384 |
|
|||
Total operating expenses |
|
70,215 |
|
|
51,980 |
|
|
126,653 |
|
|
92,093 |
|
|||
|
|
|
|
|
|
|
|
|
|||||||
Loss from Operations |
|
(69,333 |
) |
|
(51,951 |
) |
|
(125,467 |
) |
|
(92,043 |
) |
|||
|
|
|
|
|
|
|
|
|
|||||||
Interest income |
|
5,332 |
|
|
4,738 |
|
|
9,571 |
|
|
8,591 |
|
|||
Interest expense |
|
(3,319 |
) |
|
(2,003 |
) |
|
(6,752 |
) |
|
(3,925 |
) |
|||
Other income and (expense), net |
|
(63 |
) |
|
(11 |
) |
|
(125 |
) |
|
28 |
|
|||
Net loss |
$ |
(67,383 |
) |
$ |
(49,227 |
) |
$ |
(122,773 |
) |
$ |
(87,349 |
) |
|||
|
|
|
|
|
|||||||||||
Basic and diluted net loss per share: |
|
|
|
|
|
|
|
|
|||||||
Net loss per share |
$ |
(0.10 |
) |
$ |
(0.09 |
) |
$ |
(0.19 |
) |
$ |
(0.16 |
) |
|||
Shares used in computing net loss per share |
|
653,904,978 |
|
|
547,280,946 |
|
|
628,699,214 |
|
|
553,772,809 |
|
|||
CONDENSED CONSOLIDATED BALANCE SHEETS |
||||||||
|
|
June 30, |
|
|
December 31, |
|
||
(In thousands) |
|
2024 |
|
|
2023 |
|
||
|
|
(Unaudited) |
|
|
(Note 1) |
|
||
Current assets: |
|
|
|
|
|
|
||
Cash, cash equivalents and restricted cash |
|
$ |
118,068 |
|
|
$ |
71,138 |
|
Current marketable securities |
|
|
245,789 |
|
|
|
263,676 |
|
Other current assets |
|
|
9,451 |
|
|
|
6,534 |
|
Total current assets |
|
|
373,308 |
|
|
|
341,348 |
|
|
|
|
|
|
|
|
||
Noncurrent marketable securities |
|
|
66,505 |
|
|
|
43,298 |
|
Property and equipment, net |
|
|
1,626 |
|
|
|
1,177 |
|
Deposits and other assets |
|
|
7,960 |
|
|
|
8,253 |
|
|
|
$ |
449,399 |
|
|
$ |
394,076 |
|
|
|
|
|
|
|
|
||
Current liabilities |
|
$ |
103,540 |
|
|
$ |
108,070 |
|
Noncurrent liabilities |
|
|
39,164 |
|
|
|
38,057 |
|
Stockholders’ equity |
|
|
306,695 |
|
|
|
247,949 |
|
|
|
$ |
449,399 |
|
|
$ |
394,076 |
|
Note 1: Derived from audited financial statements included in the Company’s annual report on Form 10-K for the year ended December 31, 2023. |
||||||||
View source version on businesswire.com: https://www.businesswire.com/news/home/20240808881582/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
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