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GERN

Geron Corporation

GERN

Geron Corporation • NASDAQ
$1.18 ▼ -0.84% (-0.01)
Market Cap $753.26 M
52w High $4.12
52w Low $1.04
Dividend Yield 0%
P/E -9.83
Volume 3.33M
Outstanding Shares 638.36M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $47.227M ▼ $39.001M ▼ $-18.428M ▼ -39.02% ▼ $-0.028 ▼ $-9.656M ▼
Q2-2025 $49.036M ▲ $60.3M ▲ $-16.375M ▲ -33.394% ▲ $-0.025 ▲ $-7.55M ▲
Q1-2025 $39.603M ▼ $55.101M ▼ $-19.835M ▲ -50.085% ▲ $-0.03 ▲ $-11.327M ▲
Q4-2024 $47.537M ▲ $66.804M ▲ $-25.352M ▲ -53.331% ▲ $-0.039 ▲ $-16.33M ▲
Q3-2024 $28.271M $56.03M $-26.447M -93.548% $-0.04 $-23.2M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $380.532M ▼ $567.382M ▲ $318.675M ▲ $248.707M ▼
Q2-2025 $387.981M ▼ $555.198M ▼ $295.667M ▲ $259.531M ▼
Q1-2025 $396.877M ▼ $562.45M ▼ $294.212M ▼ $268.238M ▼
Q4-2024 $406.566M ▲ $593.781M ▲ $313.461M ▲ $280.32M ▼
Q3-2024 $339.774M $444.95M $152.666M $292.284M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-18.428M ▼ $-13.576M ▲ $13.348M ▼ $542K ▼ $389K ▲ $-13.487M ▲
Q2-2025 $-16.375M ▲ $-27.415M ▲ $20.315M ▼ $1.091M ▲ $-6.006M ▼ $-27.553M ▲
Q1-2025 $-19.835M ▲ $-47.979M ▼ $52.439M ▲ $256K ▼ $4.734M ▼ $-47.979M ▼
Q4-2024 $-25.352M ▲ $-43.945M ▲ $-103.511M ▼ $166.163M ▲ $18.678M ▲ $-43.804M ▲
Q3-2024 $-26.447M $-58.942M $-554K $3.578M $-55.87M $-58.942M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Government Rebates
Government Rebates
 $0 ▲$0 ▲$0 ▲$0 ▲
Product
Product
 $50.00M ▲$40.00M ▼$50.00M ▲$50.00M ▲
Revenues Before Adjustments
Revenues Before Adjustments
 $60.00M ▲$50.00M ▼$60.00M ▲$60.00M ▲
Sales Returns And Allowance
Sales Returns And Allowance
 $0 ▲$0 ▲$0 ▲$0 ▲
Total Gross To Net Adjustments
Total Gross To Net Adjustments
 $0 ▲$-10.00M ▼$-10.00M ▲$-10.00M ▲
Chargeback And Distributor Service Fees
Chargeback And Distributor Service Fees
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Geron still looks like a classic late-stage biotech story on the income statement: almost no product revenue yet and steady, meaningful operating losses. Most spending is going into R&D, clinical trials, and now the early commercial build-out. Losses have grown over time but not explosively, reflecting a controlled but persistent burn. Profitability is not in sight yet, and the business model is still in the investment phase rather than the earnings phase.

Balance Sheet

Balance Sheet The balance sheet shows a company that has periodically refreshed its capital base. Total assets and shareholders’ equity have stepped up in recent years, likely reflecting equity raises in anticipation of product launch. Cash has improved from very lean levels but is still limited relative to the company’s ambitions. Debt has risen but appears moderate versus total assets, suggesting some leverage but not an extreme balance-sheet risk at this stage. Overall, the company has bought itself time, but not a fortress-like balance sheet.

Cash Flow

Cash Flow Cash flow is consistently negative, driven by operating losses from R&D and commercialization preparation. There is essentially no spending on hard assets, so the cash burn is almost entirely for people, trials, and launch activities. Free cash flow mirrors operating cash flow and remains solidly negative, meaning the business is dependent on past or future financing until product revenue ramps meaningfully. The key question is whether sales from RYTELO can begin to offset this burn before the current cash cushion thins.

Competitive Edge

Competitive Edge Competitively, Geron has carved out a distinctive position with a first-in-class telomerase inhibitor in blood cancers. The recent approval of RYTELO gives it a real commercial beachhead and first-mover status in a novel mechanism area, supported by patents and orphan designations that help protect its space. However, it faces large, well-funded competitors in hematology, including established drugs like Reblozyl. Geron’s edge rests on differentiated science, potential disease-modifying effects, and regulatory exclusivity, while its vulnerabilities include being essentially a single-product company and needing to prove itself commercially against much bigger players.

Innovation and R&D

Innovation and R&D Innovation is Geron’s main strength. The company has spent decades building deep expertise in telomerase biology and has now translated that into an approved medicine plus a pipeline of trials in related blood cancers. The focus remains on expanding imetelstat into additional indications such as myelofibrosis and higher-risk MDS/AML, and on testing combinations with existing standard-of-care drugs. This creates meaningful upside potential if trials succeed, but also substantial scientific, regulatory, and safety risks, since much of the company’s future is tied to one core platform.

Summary

Geron is transitioning from a pure R&D biotech into an early commercial-stage company anchored by RYTELO. Financially, it is still pre-profit, with recurring losses and a reliance on previously raised capital to fund both ongoing trials and commercialization. The balance sheet provides breathing room but not long-term comfort without successful revenue growth or additional funding. Strategically, the company has a unique scientific niche, strong intellectual property, and a potentially expandable platform in blood cancers, but it also carries concentrated product risk and must execute well on both clinical and commercial fronts. The overall picture is one of high scientific promise paired with high business and execution uncertainty, typical of a late-stage biotech at the start of its commercial journey.

NEWS

November 5, 2025 · 7:00 AM UTC

Geron Corporation Reports Third Quarter 2025 Financial Results and Recent Business Highlights

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November 3, 2025 · 9:05 AM UTC

Geron Corporation Announces Five Presentations Selected for ASH 2025 Highlighting Clinical Activity of RYTELO® (imetelstat) in Myeloid Hematologic Malignancies

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October 27, 2025 · 8:00 AM UTC

Geron Plans to Announce Third Quarter 2025 Financial Results on November 5, 2025

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October 23, 2025 · 6:14 PM UTC

GERON (GERN) INVESTIGATION ALERT: Bragar Eagel & Squire, P.C. is Investigating Geron Corporation on Behalf of Long-Term Stockholders and Encourages Investors to Contact the Firm

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October 20, 2025 · 5:32 PM UTC

Geron Corporation Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

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