Levi & Korsinsky commenced an investigation into Geron Corporation (“Geron” or the “Company”) (NasdaqGS:GERN) for possible breaches of fiduciary duty.
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On March 12, 2014, the Company announced it had received a verbal notice from the U.S. Food and Drug Administration (“FDA”) that its Investigational New Drug (IND) application for the drug imetelstat had been placed on full clinical hold. In a company press release Geron noted that it has not yet received written notice, but that the FDA indicated that the hold is “due to the occurrence of persistent low-grade liver function test (LFT) abnormalities observed in the phase 2 study of imetelstat in [essential thrombocythemia] patients and the potential risk of chronic liver injury following long-term exposure to imetelstat. The FDA was also concerned whether or not these abnormalities will be reversible.” On this news, shares of Geron stock plunged over 60% to close at $1.69 per share, on extremely heavy volume.
If you own Geron stock and wish to obtain additional information about the investigation and your legal rights, please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/geron-gern.Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm’s 26 attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.