Geron falls on imetelstat update

Geron Corp. (NASDAQ:GERN) sank $0.56 (20%) to $2.30 on Monday after reporting that partner Janssen Biotech Inc. will close the low-dose arm of the Phase II IMbark study of imetelstat ( GRN163L) to treat myelofibrosis (MF) and suspend enrollment of the study's high-dose arm while it waits for "additional and more mature data." Janssen, a unit of Johnson & Johnson (NYSE:JNJ), will continue the Phase II/III IMerge study of imetelstat to treat myelodysplastic syndrome (MDS).

The update came after a planned internal review of initial data from the studies. IMbark is evaluating imetelstat to treat intermediate-2 or high-risk MF in patients who relapsed after or are refractory to Janus Kinase ( JAK) inhibitor treatment. IMerge is studying the candidate to treat low or intermediate-1 risk MDS that is relapsed or refractory to erythropoiesis-stimulating agents (ESAs). ...