Geron Corporation
| Company Name | Geron Corporation |
| Stock Symbol | GERN |
| Class Period | March 19, 2018 to September 26, 2018 |
| Lead Plaintiff Motion Deadline | March 23, 2020 |
On March 27, 2018, STAT published a report revealing that the Company’s recent stock performance was due to “flimsy” claims in connection to the efficacy of imetelstat, Geron’s experimental myelofibrosis treatment. STAT stated that the available data for imetelstat undercuts Geron’s representations as to the drug’s efficacy.
On this news, Geron’s share price fell $1.75, or over 29%, over two consecutive trading sessions to close at $4.23 per share on March 27, 2018, thereby injuring investors.
Then, on September 27, 2018, Geron disclosed its Phase 2 study results for imetelstat failed to meet its primary efficacy endpoints.
On this news, Geron’s share price fell $3.92, or over 62%, to close at $2.31 per share on September 27, 2018, thereby injuring investors further.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company had misled investors about the clinical study results for imetelstat; and (2) that as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
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