This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Geron Corporation Reports 2011 First Quarter Financial Results And Highlights

Geron Corporation (Nasdaq: GERN) today reported financial results for the three months ended March 31, 2011.

For the first quarter of 2011, the company reported operating revenues of $1.5 million and operating expenses of $25.9 million, compared to $918,000 and $17.4 million, respectively, for the comparable 2010 period. Net loss for the first quarter of 2011 was $24.4 million, or $0.20 per share, compared to $16.6 million, or $0.18 per share, for the comparable 2010 period. The company ended the quarter with $207.3 million in cash and investments.

Revenues for the first quarter of 2011 and 2010 included funding from collaboration agreements and royalty and license fee revenues under various agreements. Interest and other income for the first quarter of 2011 amounted to $296,000, compared to $202,000 for the comparable 2010 period.

Research and development expenses for the first quarter of 2011 were $16.8 million, compared to $13.5 million for the comparable 2010 period. The increase in research and development expenses reflected higher drug purchases and increased clinical trial expenses for initiation and enrollment of four oncology Phase 2 clinical trials of imetelstat and the Phase 1 clinical trial for GRNOPC1 in patients with spinal cord injury. The company expects research and development expenses to increase in the future with the continued enrollment in the imetelstat Phase 2 trials and the planned initiation of the GRN1005 Phase 2 clinical trials in the second half of 2011 in patients with brain metastases.

General and administrative expenses for the first quarter of 2011 were $9.1 million, compared to $3.9 million for the comparable 2010 period. The increase in general and administrative expenses reflects costs related to the management transition, primarily non-cash stock-based compensation expense, and higher legal costs for the financing-related class action and derivative litigation against the company. All such cases have now been voluntarily dismissed.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs