March 18, 2014 /PRNewswire/ -- (PR Newswire)
– FRANK & BIANCO LLP is investigating potential securities fraud claims against Geron Corporation ("Geron" or the "Company") (NASDAQ: GERN) and certain of its officers, on behalf of purchasers of Geron's securities between
June 16, 2013 and
March 11, 2014, inclusive (the "Class Period").
The investigation concerns possible violations of the federal securities laws that occurred when the Company and certain of its officers issued materially false and misleading statements or omitted to state material information during the Class Period regarding imetelstat, Geron's first-in-class telomerase inhibitor currently in development for the treatment of hematologic malignancies. As a result of these misstatements and omissions, Geron's securities traded at artificially inflated prices throughout the Class Period.
On March 12, 2014, the Company issued a press release announcing that the U.S. Food and Drug Administration ("FDA") had halted clinical trials of imetelstat. The FDA cited concerns about persistent liver function test ("LFT") abnormalities reported in patients participating in clinical trials, and the potential risk of chronic liver injury following long-term exposure to the drug. In addition, the FDA expressed concern about whether the reported LFT abnormalities are reversible. On this news, the Company's stock price dropped $2.71 per share, more than 60%, on heavy trading volume.
If you purchased Geron securities within the Class Period, and you wish to discuss this investigation, or have any questions concerning this notice or your rights or interests with respect to these matters, please contact us.