Geron Shares Take a Dive After J&J Unit-Led Trial Falters; Endo Closes Higher: Biotech Movers

Shares of Geron Corp. (GERN) closed at $2.24 on Tuesday, Aug. 1, down 15.5%, after the Menlo Park, Calif.-based firm on Monday gave updates on the development plans for ongoing clinical studies of telomerase inhibitor imetelstat being conducted by Johnson & Johnson's (JNJ) Janssen Research & Development LLC.

Geron said that for the IMerge study, which focuses on lower risk myelodysplastic syndromes, part 1 will be broadened to "enroll additional patients in a refined MDS population to confirm the clinical benefit and safety observed from current results."

As for the IMbark trial, which focuses on relapsed or refractory myelofibrosis, the study is unchanged. "Geron expects that the IMbark protocol-specified primary analysis, the completion of which triggers a future Continuation Decision by Janssen, will begin no later than the third quarter of 2018," the company said.

Geron entered into a license and collaboration pact with Janssen Biotech Inc. in November 2014 to develop and commercialize imetelstat for oncology and other human therapeutics uses.

Among the other biotech stock movers on Tuesday was Endo International plc (ENDP) . The stock finished the trading session at $10.51, down 4.6% and was up 0.7% in after-hours trading.

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