Geron Corp. (NASDAQ:GERN) took a leap by 18.60% to $2.55 on April 10, amid announcing the completion of the second wave of reviews related to clinical trials conducted with Johnson and Johnson subsidiary Janssen Research and Development.
The products include IMerge, or the telomerase inhibitor imetelstat in lower risk myelodysplastic syndromes (MDS); and IMbark or relapsed or refractory myelofibrosis (MF). Geron Corp. (NASDAQ:GERN) said in a press release that the results of imetelstat in treated patients back enduring development in lower risk myelodysplastic syndromes while the IMbark results provide possibilities of survival benefit allied with imetelstat treatment in relapsed or refractory myelofibrosis. Myelodysplastic syndrome is a known cancer.
Geron continues to pursue the trials to review the success rate at a longer period and safety figures while Johnson and Johnson has not given its stance on whether or not it will continue the development.
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According to our data, none of the 742 elite funds we track owned any shares of Geron Corp. (NYSE:GERN) at the end of Q4. However, some hedge funds such as Paul Tudor Jones of Tudor Investment Corp. and Ken Griffin of Citadel Investment Group, abandoned their Geron shares by 73% and 61%, respectively.
It should be noted that Jones is known as one of the most successful traders in the past century. His net worth is around $3.3 billion and focuses mainly on short-term trading.
The Bottom Line
Geron Corp. (NASDAQ:GERN) is surging in the trading charts following updates to the reviews related to clinical tests with Johnson & Johnson subsidiary. For more reading, here are 10 countries with the toughest drug laws in the world.