Geron down 6% on extended timeline for imetelstat in myelofibrosis

Geron (GERN -5.9%) slips on below-average volume in apparent response to its revised development timeline for imetelstat in myelofibrosis.

Instead of finalizing its Phase 3 development plan by the end of next quarter subsequent to FDA feedback, it now expects its End-of-Phase 2 meeting with the agency to take place in Q1 2020, after which it will communicate its Phase 3 approach.

The company plans to complete the transition of the imetelstat program from former licensee Janssen by late Q3. It remains committed to conducting the Phase 3 part of the IMerge study in patients with low or intermediate-1 risk myelodysplastic syndromes.

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