Stifel Nicolaus' Brian Klein downgraded shares of Geron 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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