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 cash on its balance sheet as of the end of August and interim results in MDS that appear to warrant Phase III testing in certain patients
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