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Geron Has Cash, But Does It Have The Imetelstat Data To Push On Without Janssen?

 
• By Joseph Haas

Janssen is dropping the telomerase inhibitor as imetelstat nears the conclusion of Phase II in myelodysplastic syndrome and myelofibrosis, but Geron has $183m in cash on hand that it will use to take the drug forward on its own in one or both indications.

Medic staff at work in the laboratory. Background

Geron Corp. put on a brave face as it revealed Sept. 27 that Janssen Biotech Inc. is exiting a partnership for first-in-class telomerase inhibitor imetelstat, saying that it plans to advance the drug on its own into Phase III in myelodysplastic syndrome (MDS) while investigating how best to possibly move into Phase III in myelofibrosis (MF).

Shareholders largely did not accept Geron’s slant, however, as the biotech’s share price declined 63% during the trading day, to close at $2.31 per share. The company had $183m in...

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