10 Best Debt-Free Penny Stocks to Buy Right Now

2. Geron Corporation (NASDAQ:GERN)

Stock upside potential: 191.97%

Number of Hedge Fund Holders: 37

Geron Corporation (NASDAQ:GERN) is one of the best debt-free penny stocks to buy right now. On January 12, Geron Corporation (NASDAQ:GERN) announced its 2026 outlook, forecasting $220–240 million in RYTELO (imetelstat) revenue and $230–240 million in operating expenses following a recent restructuring. The blood-cancer-focused company expects stronger growth in the second half of the year as it increases outreach to physicians and patients.

Geron is prioritizing U.S. commercialization, international expansion, and progress in its Phase 3 IMpactMF trial. RYTELO, a first-in-class telomerase inhibitor approved in the U.S. and EU for lower-risk MDS-related anemia, continues to build clinical support, with new IMerge data presented at the 2025 ASH meeting. The company also amended its loan agreement with Pharmakon Advisors, securing access to up to $125 million through July 2026.

On December 16, the company embarked on a restructuring drive to achieve profitability in the second half of 2026. The company is in the process of trimming its workforce by nearly a third, a move expected to reduce operating expenses. However, it is also likely to result in an $18 million in restructuring charges associated with severance payments and healthcare benefits.

In addition to cost cuts, the company plans to focus on expanding its US commercial sales while pursuing international opportunities in Europe for its key products.

“Our key objectives remain unchanged. We are focused on driving RYTELO commercial growth in the U.S., exploring opportunities for making RYTELO available outside the U.S., and continuing to advance our Phase 3 IMpactMF trial. We expect this restructuring will have a meaningful impact on our 2026 operating expenses and position Geron to meet the needs of patients,” said Harout Semerjian, President and Chief Executive Officer of Geron.

Geron Corporation (NASDAQ:GERN) is a commercial-stage biopharmaceutical company focused on developing and selling treatments for blood cancers, primarily using its first-in-class telomerase inhibitor, RYTELO (imetelstat). RYTELO is approved in the U.S. and EU for certain patients with lower-risk myelodysplastic syndromes (MDS).