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Mar 31, 2020
Geron Q1 2020 Earnings Report
Reported first quarter 2020 financial results.
Key Takeaways
Geron reported a net loss of $16.4 million, or $0.08 per share, for the first quarter of 2020, compared to a net loss of $10.1 million, or $0.05 per share, for the comparable 2019 period. As of March 31, 2020, Geron had approximately $133 million in cash, cash equivalents, and current and non-current marketable securities.
Reported a net loss of $16.4 million, or $0.08 per share, for the first quarter of 2020.
Revenues for the first quarter of 2020 were $52,000.
Total operating expenses for the first quarter of 2020 were $16.9 million.
As of March 31, 2020, Geron had approximately $133 million in cash, cash equivalents, and current and non-current marketable securities.
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CapyFin.com Forward Guidance
The company expects its 2020 operating expense burn to range from $70 to $75 million. The company estimates these financial resources, combined with the estimated net proceeds of approximately $140 million from the recently closed public offering of securities, provide sufficient funds for the Company’s operations into the second half of 2022.
Positive Outlook
- Sufficient funds for operations into the second half of 2022.
- Top-line results for the IMerge Phase 3 clinical trial in lower risk myelodysplastic syndromes (MDS) are expected in the second half of 2022.
- Patient enrollment for the planned Phase 3 clinical trial in refractory myelofibrosis (MF) is expected to be completed in the second half of 2022.
- Guidance reflects cash conservation measures implemented in April due to the COVID-19 pandemic.
- Guidance reflects new costs for startup activities associated with the planned Phase 3 clinical trial in refractory MF and additional costs for the expansion of clinical sites for the IMerge Phase 3 clinical trial.
Challenges Ahead
- COVID-19 pandemic may slow or prohibit the Company’s ability to have top-line results from the IMerge Phase 3 clinical trial in the second half of 2022.
- COVID-19 pandemic may slow or prohibit the screening and enrollment of patients into the planned Phase 3 clinical trial in refractory MF in the first quarter of 2021.
- COVID-19 pandemic may slow or prohibit the completion of patient enrollment for the planned Phase 3 clinical trial in refractory MF in the second half of 2022.
- Guidance reflects cash conservation measures implemented in April due to the COVID-19 pandemic, such as suspending travel and postponing a planned imetelstat proof of concept study.
- Lower yields on the Company’s reduced marketable securities portfolio.