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Mar 31, 2023
Geron Q1 2023 Earnings Report
Geron reported financial results for the first quarter of 2023 and provided business updates.
Key Takeaways
Geron reported a net loss of $38.1 million, or $0.07 per share, for the first quarter of 2023. As of March 31, 2023, the Company had $409.2 million in cash and marketable securities and believes it has sufficient resources to fund operating requirements through the end of the third quarter of 2025.
On track to submit a New Drug Application in the U.S. in June 2023.
Preparing for a potential U.S. commercial launch in the first half of 2024.
Planning to submit a Marketing Authorization Application in the EU in the second half of 2023.
Preparing for an EU commercial launch by the end of 2024.
Geron
Geron
Geron Revenue by Segment
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CapyFin.com Forward Guidance
For fiscal year 2023, the Company continues to expect total expenses in the range of approximately $210 million to $220 million and non-GAAP total expenses for fiscal year 2023 to be in the range of approximately $200 million to $210 million.
Positive Outlook
- Support planned regulatory submissions in 2023
- Continued support of ongoing clinical trials, IMerge Phase 3, IMpactMF, IMproveMF and IMpress, as well as preclinical studies in lymphoid malignancies and discovery research for a next generation telomerase inhibitor
- Manufacturing commercial inventory of imetelstat
- Preparations for potential U.S. commercial launch of imetelstat in lower risk MDS
- Projected increases in headcount and interest payments on outstanding debt