NEW YORK--(BUSINESS WIRE)--Scott+Scott Attorneys at Law LLP (“Scott+Scott”), a national securities and consumer rights litigation firm, is notifying investors that a class action lawsuit has been filed against Geron Corporation (“Geron” or the “Company”) (NASDAQ: GERN), and the Company’s President and CEO, related to alleged violations of federal securities laws. If you purchased Geron securities between March 19, 2018 and September 26, 2018, inclusive, you are encouraged to contact Scott+Scott attorney Joe Pettigrew for additional information at (844) 818-6982 or jpettigrew@scott-scott.com.
Geron is a biopharmaceutical company. During the relevant time period, Geron’s sole product candidate was imetelstat, a drug intended to treat certain cancers that occur in bone marrow. The IMbark study was designed to ascertain whether imetelstat helped patients with a cancer called myelofibrosis. Geron was developing imetelstat in partnership with Janssen Biotech, Inc. (“Janssen”), a division of Johnson & Johnson.
The lawsuit alleges that the defendants: (1) misled investors about the results of the IMbark clinical drug study of imetelstat; and (2) as a result, defendants’ statements about Geron’s business, operations, and prospects were materially false and misleading and lacked a reasonable basis at all relevant times.
After making a number of positive statements about imetelstat, the Company issued a press release on September 27, 2018, with disappointing news. The press release indicated that patients in the IMbark study showed only a 10% decrease in spleen volume, when 35% or more was required for success, and a 32% reduction in Total Symptom Score, when at least 50% was needed. The Company also announced that Janssen had terminated its partnership with Geron for the development of imetelstat.
On that news, the price of Geron stock fell $3.92 per share, nearly 63%, from $6.23 per share to $2.31 per share on September 27, 2018.
What You Can Do
If you purchased Geron securities between March 19, 2018 and September 26, 2018, inclusive, or if you have questions about this notice or your legal rights, you are encouraged to contact attorney Joe Pettigrew at (844) 818-6982 or jpettigrew@scott-scott.com. The deadline for lead plaintiff motions is March 23, 2020.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.
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