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Sep 30, 2022
Geron Q3 2022 Earnings Report
Reported third quarter results and upcoming expected milestones.
Key Takeaways
Geron Corporation reported a net loss of $41.1 million, or $0.10 per share, for the third quarter of 2022. As of September 30, 2022, the Company had approximately $195 million in cash and marketable securities, which is expected to support operations through the middle of 2024.
Top-line results from IMerge Phase 3 trial in lower risk MDS continue to be expected in early January 2023.
Current and projected financial resources are expected to support planned milestones and operations through middle of 2024.
The company reported a net loss of $41.1 million, or $0.10 per share, compared to $26.7 million, or $0.08 per share, for the comparable 2021 period.
Revenues for the three months ended September 30, 2022, were $297,000, compared to $109,000 for the comparable 2021 period.
Geron
Geron
Forward Guidance
The Company continues to expect total operating expenses in the range of approximately $155 million to $165 million and non-GAAP total operating expenses in the range of approximately $140 million to $150 million for fiscal year 2022.
Positive Outlook
- Preparatory activities for top-line results from the IMerge Phase 3 clinical trial.
- Readiness for potential regulatory filings and commercialization of imetelstat in lower risk MDS.
- Continued conduct of IMerge and IMpactMF and commencement of new clinical studies associated with the imetelstat pipeline expansion strategy.
- Finalizing validation batches of imetelstat at contract manufacturers to enable future production of imetelstat for clinical and commercial purposes.
- Projected increases in headcount and interest payments on outstanding debt.