BioCentury
ARTICLE | Clinical News

GRN1005: Development discontinued

December 10, 2012 8:00 AM UTC

Geron discontinued development of GRN1005 after a planned interim futility analysis of the first 30 evaluable patients with brain metastases arising from metastatic breast cancer in the open-label, North American Phase II GRABM-B trial showed that the compound produced no confirmed intracranial responses. Patients with HER2-negative breast cancer received GRN1005 alone, while patients with HER2-positive breast cancer received GRN1005 plus Herceptin trastuzumab. Data were presented at the San Antonio Breast Cancer Symposium. Geron also discontinued the open-label, North American Phase II GRABM-L trial evaluating GRN1005 in about 50 patients with brain metastases arising from non-small cell lung cancer (NSCLC). The company said it sent partner Angiochem notice of termination of the 2010 deal granting Geron exclusive, worldwide rights to GRN1005. Angiochem, which said it hopes to make a decision on the program in 1H13, said there were no payments made as a result of the termination (see BioCentury, Dec. 13, 2010).

Geron said it will reduce headcount by 43 (40%) to 64 to focus on development of imetelstat in hematologic myelogenous malignancies and in patients with solid tumors that have short telomeres. As part of the headcount reduction, CFO Graham Cooper will leave the company. Olivia Bloom, VP of finance, chief accounting officer and treasurer, will assume the role of CFO effective Dec. 7. Additionally, Craig Parker was hired as SVP of corporate development. Parker was formerly SVP of strategy and corporate development at Human Genome Sciences Inc., which GlaxoSmithKline plc (LSE:GSK; NYSE:GSK, London, U.K.) acquired in August. Geron said it will reduce its annual cash operating expenses to about $33 million in 2013 from about $65 million in 2012. The company expects to end 2012 with about $90 million in cash and investments. At Sept. 30, Geron had $100.5 million in cash and marketable securities and a 9-month operating loss of $53.3 million. ...