Geron Q3 2024 Earnings Report
Key Takeaways
Geron Corporation reported financial results for the third quarter of 2024, highlighted by $28.2 million in RYTELO net product revenue in its first full quarter of sales. The company also completed synthetic royalty and debt financings, receiving $250 million in gross proceeds.
Achieved $28.2 million in RYTELO net product revenue in the first full quarter of sales.
Completed synthetic royalty and debt financing transactions, securing $250 million in gross proceeds.
Appointed Jim Ziegler as Executive Vice President, Chief Commercial Officer.
New data to be presented at ASH Annual Meeting highlighting the potential of imetelstat.
Geron
Geron
Geron Revenue by Segment
Forward Guidance
Geron expects total operating expenses for fiscal year 2024 to be in the range of approximately $260 million to $270 million. The company believes its existing financial resources, together with anticipated revenues from U.S. sales of RYTELO, will be sufficient to fund projected operating requirements for at least the next 12 months.
Positive Outlook
- Financial resources are expected to support the commercial launch of RYTELO in the U.S.
- Financial resources are expected to support a potential launch in the EU.
- Financial resources are expected to complete the Phase 3 IMpactMF trial in relapsed/refractory MF.
- Financial resources are expected to invest in supply chain redundancy for RYTELO.
- Financial resources are expected to fund general working capital requirements.