SAN DIEGO, March 14, 2025 /PRNewswire/ -- Robbins LLP informs stockholders that a class action was filed on behalf of all investors who purchased or otherwise acquired Geron Corporation (NASDAQ: GERN) securities between June 7, 2024 to February 25, 2025. Geron is a commercial-stage biopharmaceutical company with a focus on blood cancer. Geron's primary product is a telomerase inhibitor, imetelstat, which the Company sells under the brand name, Rytelo.
For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.
The Allegations: Robbins LLP is Investigating Allegations that Geron Corporation (GERN) Misled Investors Regarding the Launch and Potential Growth of Rytelo
According to the complaint, during the class period, defendants failed to disclose to investors that Geron's optimistic reports of Rytelo's launch success and potential growth fell short of reality; the impacts of seasonality, existing competition, and the burden of continued monitoring played a much more significant role in patient starts than defendants had implied. Moreover, Rytelo lacked the necessary awareness to penetrate the market, resulting in an inability for Geron to capitalize on the purportedly significant unmet need for the drug, particularly among first-line patients and those outside the academic setting.
The complaint alleges that on February 26, 2025, Geron announced its financial results for the fourth quarter of fiscal 2024, disclosing that Rytelo's growth had flattened over the preceding months. The Company attributed the diminished growth on seasonality, competition, lack of awareness for Rytelo, and the burden of the monitoring requirement necessary for the drug treatment. On this news, the price of Geron's common stock declined from a closing price of $2.37 per share on February 25, 2025, to $1.61 per share on February 26, 2025, a decline of about 32.07% in the span of just a single day.
What Now: You may be eligible to participate in the class action against Geron Corporation. Shareholders who want to serve as lead plaintiff for the class must file their papers with the court by May 12, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002.
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SOURCE Robbins LLP
