Geron Corporation Announces Closing of Its Public Offering of Common Stock
Geron Corporation (Nasdaq: GERN) announced today the closing of its previously announced public offering of 17,391,305 shares of its common stock, as well as 2,608,695 additional shares of its common stock pursuant to the full exercise of the over-allotment option granted to the underwriters. The public offering price was $5.00 per share and the total net proceeds to Geron from the public offering are approximately $93.5 million, after deducting underwriting discounts and commissions and estimated offering expenses.
Geron intends to use the net proceeds from the offering for research and development, including clinical trials for its product candidates, clinical development of product candidates it has in-licensed, and other general corporate purposes.
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