UPDATE: Stifel Downgrades Geron from Hold to Sell
Stifel Nicolaus' Brian Klein downgraded shares of Geron (NASDAQ: GERN) from Hold to Sell in an intraday research note.
Related to Imetelstat rests trial, the analyst said, "While management states that this is the most expedited way to derive the clinical data necessary for future company-sponsored trials, we view this development plan as flawed and sluggish." Klein believes the company should "initiate a parallel Phase 1 study of Imetelstat in myeloid leukemias in 2013, including MDS and AML, in order to provide independent confirmation of the findings from the IST, as well as to broaden the safety and efficacy database for Imetelstat in these indications. However, given management's current strategy, we have reservations on the development plan for Imetelstat..."
Shares of Geron are down nearly 10 percent to around $1.28 at last check.
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