The law firm of Kirby Mcinerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Northern District of California on behalf of those who acquired Geron Corporation (“Geron” or the “Company”) (NASDAQ: GERN) securities during the period from March 19, 2018 through September 26, 2018 (the “Class Period”). Investors have until March 23, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The lawsuit alleges that the Company misled investors about the results of a clinical drug study of the drug imetelstat called IMbark that was designed to ascertain whether imetelstat helped patients with a cancer called myelofibrosis.
On March 27, 2018, a biotech journalist published an article alleging that Geron had made misleading statements on March 19, 2018 and failed to disclose IMbark’s primary endpoint data or the baseline disease characteristics of patients in the study. On this news, Geron shares fell $1.75, or 29.3%, to close at $4.23 per share on March 28, 2018.
On September 27, 2018, Geron disclosed that patients in the IMbark study had shown only 10% spleen volume reduction and 32% TSS reduction and that Janssen Biotech Inc. had decided to terminate its partnership with Geron. On this news, Geron shares fell $3.92, or 62.9%, to close at $2.31 per share on September 28, 2018.
If you acquired Geron securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at firstname.lastname@example.org, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.