Geron (NASDAQ:GERN) Releases Quarterly Earnings Results, Hits Expectations

Geron (NASDAQ:GERN) announced its earnings results on Wednesday. The biopharmaceutical company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03), Zacks reports. Geron had a negative return on equity of 29.63% and a negative net margin of 43.61%.

Here are the key takeaways from Geron’s conference call:

• 2026 financial guidance reiterated — management expects RYTELO net revenue of $220–$240 million and total operating expenses of $230–$240 million, targeting quarter?over?quarter demand growth with a larger portion of revenue in the back half of 2026.
• Commercial execution focused on second?line, lower?risk MDS (~8,000 US patients) — Q4 showed 9% demand growth and a ~13% increase in prescribing accounts (to ~1,300), with a targeted field plus digital “3D surround sound” strategy prioritizing high?volume community centers.
• Clinical and evidence?generation catalysts ahead — the fully enrolled IMpactMF trial has an interim overall?survival analysis expected in H2 2026 (final analysis planned H2 2028) and management expects initial investigator?sponsored trial and real?world evidence data in H2 2026.
• Cash runway and financing reliance — cash and marketable securities fell to approximately $400 million at year?end (from $503 million), and access to an additional $125 million under an amended loan is only available through July 30, 2026, indicating potential near?term financing needs.
• Rising gross?to?net deductions could pressure net revenue — gross?to?net increased to 17.7% in 2025 (from 14.5% in 2024) due to greater 340B use and GPO contracting, and management expects gross?to?net in the high?teens to low?twenties in 2026.

Geron Trading Down 17.7%

Shares of NASDAQ:GERN traded down $0.35 during midday trading on Wednesday, hitting $1.61. The company had a trading volume of 17,744,354 shares, compared to its average volume of 14,492,683. The company has a current ratio of 5.96, a quick ratio of 4.87 and a debt-to-equity ratio of 0.48. Geron has a 12 month low of $1.04 and a 12 month high of $2.01. The firm has a fifty day simple moving average of $1.46 and a 200 day simple moving average of $1.35. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -13.46 and a beta of 0.62.

Analyst Ratings Changes

A number of equities research analysts have commented on GERN shares. Needham & Company LLC decreased their price objective on shares of Geron from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. TD Cowen reissued a “buy” rating on shares of Geron in a research note on Thursday, January 29th. Weiss Ratings reissued a “sell (e+)” rating on shares of Geron in a report on Wednesday, January 28th. HC Wainwright reaffirmed a “neutral” rating on shares of Geron in a report on Tuesday, December 9th. Finally, UBS Group reissued a “neutral” rating on shares of Geron in a research note on Tuesday, December 9th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $2.75.

Hedge Funds Weigh In On Geron

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Geron by 2.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 392,534 shares of the biopharmaceutical company’s stock valued at $627,000 after acquiring an additional 8,123 shares during the last quarter. E Fund Management Co. Ltd. grew its holdings in Geron by 12.0% during the second quarter. E Fund Management Co. Ltd. now owns 92,238 shares of the biopharmaceutical company’s stock valued at $130,000 after purchasing an additional 9,849 shares during the period. Velan Capital Investment Management LP increased its stake in Geron by 14.3% in the third quarter. Velan Capital Investment Management LP now owns 80,000 shares of the biopharmaceutical company’s stock valued at $110,000 after purchasing an additional 10,000 shares in the last quarter. ADAR1 Capital Management LLC increased its stake in Geron by 3.4% in the third quarter. ADAR1 Capital Management LLC now owns 456,176 shares of the biopharmaceutical company’s stock valued at $625,000 after purchasing an additional 15,000 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Geron by 6.2% in the second quarter. The Manufacturers Life Insurance Company now owns 316,622 shares of the biopharmaceutical company’s stock worth $446,000 after purchasing an additional 18,491 shares during the period. Institutional investors own 73.71% of the company’s stock.

Trending Headlines about Geron

Here are the key news stories impacting Geron this week:

• Positive Sentiment: RyTELO commercial momentum — Geron reported RYTELO net product revenue of $48.0M in Q4 and $183.6M for full?year 2025, with RYTELO demand up 9% sequentially and ~150 new ordering accounts added in Q4, supporting continued top?line growth. Geron Corporation Reports Fourth Quarter and Full Year 2025 Financial Results and Recent Business Highlights
• Positive Sentiment: 2026 revenue guidance reiterated — Management reiterated 2026 RYTELO net product revenue guidance of $220M–$240M, indicating confidence in commercial outlook and providing a measurable growth target for investors. Geron Corporation Reports Fourth Quarter and Full Year 2025 Financial Results and Recent Business Highlights
• Neutral Sentiment: Cash runway and cost discipline — Geron ended 2025 with about $401M in cash and marketable securities and reported 2025 operating expense of ~$255M (within prior guidance); management says current resources plus anticipated U.S. RYTELO sales should fund foreseeable needs, but the cash decline from 2024 is notable. Geron Corporation Reports $184 Million in RYTELO® Revenue for 2025 and Provides 2026 Financial Guidance
• Neutral Sentiment: Upcoming catalysts — Management flagged mid?2026 milestones (IMpactMF interim analysis, initial real?world trials in LR?MDS) and scheduled investor presentations (TD Cowen, Barclays) that could move sentiment if results/data surprise. Geron Plans to Present at Upcoming Investor Conferences
• Negative Sentiment: Quarterly loss and perceived miss — The company reported a Q4 net loss of $31.1M and EPS roughly in line with consensus (?$0.03), but some investors/analysts viewed the results and accompanying metrics as a miss versus expectations, contributing to selling pressure. Geron falls as Q4 results miss expectations
• Negative Sentiment: Restructuring and expense execution — Geron recorded $17M of restructuring charges after cutting ~1/3 of its workforce; SG&A rose as the company invested in sales/marketing. Combined with the cash decline from ~$503M to ~$401M, investors are focused on near?term cash burn and execution risks. Geron Corporation Reports Fourth Quarter and Full Year 2025 Financial Results and Recent Business Highlights
• Negative Sentiment: Analyst reactions and valuation pressure — Some analyst coverage has been cautious (e.g., TD Cowen trimmed its price target earlier), and recent commentary about valuation vs. volatility has kept trading active and pressure on the shares. Geron (GERN) Sets 2026 Financial Goals, TD Cowen Cuts PT

Geron Company Profile

Geron Corporation (NASDAQ: GERN) is a clinical-stage biotechnology company dedicated to developing and commercializing novel treatments that target telomerase, an enzyme critical to cancer cell immortality. The company’s research is focused on hematologic malignancies and solid tumors, with a pipeline designed to address diseases that have historically had limited therapeutic options.

The lead product candidate, imetelstat, is a first-in-class telomerase inhibitor currently in Phase II and Phase III clinical trials for myelofibrosis and myelodysplastic syndromes.