| COMPANY |
Geron Corporation |
| COURT |
United States District Court for the Northern District of California |
| CASE NUMBER |
3:25-cv-02507 |
| JUDGE |
The Hon. Charles R. Breyer |
| CLASS PERIOD |
February 28, 2024, through February 25, 2025 |
| SECURITY TYPE |
Securities |
LEAD PLAINTIFF DEADLINE IS MAY 12, 2025.
If you have suffered losses and would like to discuss your rights, please fill out this form or you may contact Jonathan Naji, Esq. at (484) 270-1453 or via e-mail at info@ktmc.com.
Case Background:
Class action lawsuits were filed on behalf of those who purchased or otherwise acquired Geron Corporation (“Geron”) (NASDAQ: GERN) securities between February 28, 2024, and February 25, 2025, inclusive (the “Class Period”).
The Class Period begins on February 28, 2024, when Geron filed an Annual Report on Form 10-K with the SEC reporting the company’s financial and operational results for the year ended December 31, 2023 (the “2023 10-K”). In the 2023 10-K, Geron highlighted the company’s commercial plans for RYTELO. That same day, Geron issued a press release announcing the company’s fourth quarter and full year 2023 financial results. In the release, Geron touted that the company’s “progress and execution throughout 2023 has paved the way for a potentially transformational 2024, as we plan for the transition to becoming a commercial company,” and that “We believe that we are in a strong position for value creation, based on our differentiated product candidate, the potential for significant commercial opportunities in transfusion-dependent, lower-risk MDS and relapsed/refractory MF, the excellence and experience of our employees, and the strength of our balance sheet to support a potential U.S. launch.”
On February 26, 2025, before the market opened, Geron announced its fourth quarter and full year 2024 financial results and revealed earnings per share (“EPS”) of -$0.04 and revenue of $47.54 million, falling short of the EPS and revenue projected by analysts. On the corresponding earnings call, Geron’s CEO revealed that the company had “observed flat revenue trends over the last few months” for RYTELO attributed to seasonality, competition, lack of awareness among health care providers, and the burden of the weekly monitoring requirement necessary for the drug treatment. Furthermore, Geron’s CCO stated that the company was “assessing other possible root causes for the flat revenue trends” and was considering strategic adjustments to invigorate growth, including “increase[ing health care provider] awareness” of RYTELO. On this news, the price of Geron common stock declined $0.76 per share, or approximately 32.07%, from a close of $2.37 per share on February 25, 2025, to close at $1.61 per share on February 26, 2025.
The complaints allege that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Defendants created the false impression that they possessed reliable information pertaining to Geron’s projected revenue outlook and anticipated growth while also minimizing risk from seasonality and macroeconomic fluctuations; (2) in truth, Geron’s optimistic reports of RYTELO’s launch success and potential growth fell short of reality as the impacts of seasonality, existing competition, and the burden of continued monitoring played a much more significant role in patient starts than Defendants had implied; (3) RYTELO lacked the necessary awareness to penetrate the market, resulting in an inability for Geron to capitalize on the purportedly significant unmet need for the drug, particularly among first-line patients and those outside the academic setting; and (4) as a result, Defendants’ statements about the company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
What is a Lead Plaintiff?
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Filling out the online form above or communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.