Geron Corporation GERN today announced that, effective immediately,
the Company will focus on its first-in-class oncology programs. As a
consequence, the Company will discontinue further development of its stem cell
programs and is seeking partners for these novel assets.
“In the current environment of capital scarcity and uncertain economic
conditions, we intend to focus our resources on advancing our Phase 2 clinical
trials of imetelstat and GRN1005. These two novel and promising oncology drug
candidates target major unmet medical needs and have important clinical
development milestones occurring over the next 20 months,” said Geron's Chief
Executive Officer, John A. Scarlett, M.D. “By narrowing our focus to the
oncology therapeutic area, we anticipate having sufficient financial resources
to reach these important near-term value inflection points for shareholders
without the necessity of raising additional capital. This would not be
possible if we continue to fund the stem cell programs at the current levels.”
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