Geron's Drug Alliance with Janssen Terminated, Shares Plummet 68%

A researcher in a lab

A researcher in a lab

Geron announced ahead of the market open that Johnson & Johnson (NYSE: JNJ)'s Janssen unit has made a decision to terminate a collaboration and licensing agreement it had with Geron since 2014 for its myelofibrosis treatment candidate Imetelstat, effective September 28. In a press release issued early this morning, the company said that Jannsen Biotech, Inc. has terminated a CLA entered into with the company in 2014. As a result, Geron has regained the global rights to develop and commercialize imetelstat.

The transition will take place over approximately 12 months with operational assistance from Janssen. Janssen will supply imetelstat to Geron for up to two years.

Imetelstat is being studied in two separate Phase 2 trials dubbed IMbark and IMerge, with the former testing the candidate for myelofibrosis and the latter for myelodysplastic syndromes.

The first Apple computer in history sold for 375 000$
A working version of Apple's very first product, the Apple I computer , has been sold for $375,000 at an auction in Boston . Cupertino, California-based Apple recently became the world's first publicly traded company to be valued at $1 trillion.

Patients now enrolled in the ongoing imetelstat clinical trials in myelofibrosis (IMbark) and myelodysplastic syndromes (IMerge) will continue to be supported through the respective trial protocols, including treatment and follow-up. "We also believe the combined data of 38 patients from the initial and expansion cohorts for the target patient population from the Phase II portion of IMerge support further development of imetelstat, and we are therefore prioritizing the initiation of the Phase III portion of IMerge". The primary endpoint is the rate of red blood cell transfusion independent (RBC-TI rate) lasting at least eight weeks.

The Company has revised its financial projections and now anticipates 2018 operating expenses to be ~$37M (previously $30M). The higher costs are projected for the hiring of additional personnel and external service providers to develop Imetelstat. As of August 31, 2018, the company had roughly $183 million in cash and marketable securities, which is expected to be sufficient to support its plans to initiate the Phase 3 portion of IMerge in 2019. In particular, we're interested in following the story surrounding the company's continued work to bring imetelstat.

Geron's stock was down 68% in premarket trading, a reversal of its 40% spike when the companies inked the deal four years ago.

Recommended News

  • Maldives Military Backs 'will of the People' After Election

    Maldives Military Backs 'will of the People' After Election

    The Maldives is best known as a luxury holiday destination and is key to a battle for influence between India and China. Election commission chief Ahmed Shareef confirmed that Yameen's party lodged several complaints of vote irregularities.
    Jose Mourinho gives Man United fans insight into Paul Pogba relationship

    Jose Mourinho gives Man United fans insight into Paul Pogba relationship

    Out of the top nine sides in the Premier League , United , now seventh, have scored the fewest goals, with nine so far. Nevertheless, Mourinho refused to reveal what he said to provoke Pogba's reaction.
    Limiting your child's screen time could improve cognition

    Limiting your child's screen time could improve cognition

    In the meantime he urged parents and health officials to consider two hours recreational time online as the maximum daily limit. Less than two hours of screen time a day was the one factor most linked to better performance in the test.
  • Nintendo wins damage suit against Tokyo Super Mario go-kart business

    Nintendo wins damage suit against Tokyo Super Mario go-kart business

    Nintendo also claimed that MariCar was using Nintendo costumes for publicity and sales without the publisher's permission.
    World's first human case of rat disease found in Hong Kong

    World's first human case of rat disease found in Hong Kong

    The virus causes hepatitis, an inflammation of the liver, and can not be cured but usually heals on its own. Symptoms include fever, vomiting and jaundice, and in rare cases liver failure.

    House Panel Votes to Release Trump Jr., Kushner Interview Transcripts

    The Office of the Director of National Intelligence will now review the transcripts before their release. Schiff said Friday Wasserman Schultz had no objections to her interview being made public.
  • Shaq's son Shareef O'Neal to undergo heart surgery

    Shaq's son Shareef O'Neal to undergo heart surgery

    As a precaution, UCLA's doctors gave him a heart monitor to wear, giving him the ability to alert them with the push of a button. The answer is absolutely not. "During rehab, I'll be attending my classes and being a normal student", said Shareef.
    Macaulay Culkin taps J.K. Rowling for Fantastic Beasts role

    Macaulay Culkin taps J.K. Rowling for Fantastic Beasts role

    Yesterday's reveal that actress Claudia Kim is playing Nagini in Fantastic Beasts caused some fans to retaliate, and now J.K. There are theories suggesting that the Fantastic Beasts movies is going to be a Voldemort origin story.
    Liverpool’s Jurgen Klopp describes Chelsea’s Mateo Kovacic as Formula One auto

    Liverpool’s Jurgen Klopp describes Chelsea’s Mateo Kovacic as Formula One auto

    That's all how it is, but they are hard to defend. "And if you have no pain before the game, then you will have it after the first challenge".
  • Indonesia earthquake and tsunami leaves scores of people dead

    Indonesia earthquake and tsunami leaves scores of people dead

    Earlier Friday, a 6.1 magnitude quake killed one person, injured several others and damaged dozens of homes, according to the AP. The region was rocked by a magnitude 7.5 quake and numerous strong aftershocks, including one of magnitude 6.7.

    Benjamin Mendy: Pep Guardiola speaks to left-back over lateness

    The France global is out with a foot injury and will miss Saturday's Premier League match against Brighton. Guardiola also revealed he is confident Phil Foden is set to sign a new long-term contract at the Etihad.
    Facebook Data Breach Exposed 50 Million Users

    Facebook Data Breach Exposed 50 Million Users

    If you had to log back into your Facebook account and were wondering why, a massive security breach is to blame. While an investigation into the security breach continues, Facebook has reset accounts for 90 million people.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.