Geron stock dips as chief commercial officer departs

Hailshadow/iStock via Getty Images Geron ( NASDAQ: GERN ) shares plunged around 7% premarket on Wednesday after the biopharmaceutical company said Anil Kapur, its executive vice president, corporate strategy and chief commercial officer, will depart on Aug. 31, 2024 to pursue other interests. The company has initiated a search for a new chief commercial officer.

In the interim, Andrew Grethlein, executive vice president, chief operating officer, will lead the commercial organization. Analysts noted that the optics does not appear great, as the reorganization comes shortly after Geron ( GERN ) launched its highly-anticipated blood disorder drug, Rytelo. The U.

S. FDA cleared Geron’s ( GERN ) lead asset, imetelstat, as a late-line option for a type of blood cancer called myelodysplastic syndromes (MDS) in June this year. The company said that imetelstat, a telomerase inhibitor, will be available in the U.

S. as Rytelo for adults with low- to intermediate-risk MDS who have developed anemia requiring blood transfusions. More on Geron Geron: Innovative Rytelo Enters A Challenging MDS Market Geron Corporation: A High-Risk Deal With A Good Chance Of Success Geron Corporation (GERN) Q1 2024 Earnings Call Transcript Geron started at overweight at Barclays following imetelstat approval 3 stocks to watch on Friday: GME, GERN, and more.