Geron Mixed After Company Announces Start Of Phase 2/3 Clinical Trial

Shares of Geron Corporation GERN were mixed on Thursday after the company announced the initiation of its Janssen Phase 2/C clinical trial of Imetelstat in Myelodyplastic syndromes.

The purpose of the clinical trial is to "evaluate imetelstat in transfusion dependent patients with International Prognostic Scoring System (IPSS) Low or Intermediate-1 risk MDS who have relapsed after or are refractory to prior treatment with an erythropoiesis-stimulating agent (ESA).

Geron confirmed the closing of the first patient out of a total of 200 patients that are expected to be enrolled.

The primary efficacy endpoint is "designed to be the rate of red blood cell transfusion-independence lasting at least 8 weeks, defined as the proportion of patients without any red blood cell transfusion during any consecutive 8 weeks since entry to the trial. A primary efficacy analysis is planned to occur 12 months after the last patient is enrolled."

Shares of Geron opened for trading on Thursday at $3.35 and quickly moved to an intra-day low of $3.08 before rebounding to positive territory - only to decline yet again.

Heading into Thursday's afternoon trading session, shares of Geron were lower by 0.61 percent at $3.24.