A lawsuit was filed on behalf of investors in Geron Corporation (NASDAQ: GERN) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 02/12/2020 -- An investor, who purchased NASDAQ: GERN shares, filed a lawsuit over alleged violations of Federal Securities Laws by Geron Corporation.
Investors who purchased shares of Geron Corporation (NASDAQ: GERN) have certain options and for certain investors are short and strict deadlines running. Deadline: March 23, 2020. NASDAQ: GERN investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
Menlo Park, CA based Geron Corporation, a clinical biopharmaceutical company, focuses on the development and commercialization of therapeutics for hematologic myeloid malignancies.
Geron Corporation was developing imetelstat in partnership with Janssen Biotech Inc. ("Janssen"), a division of Johnson & Johnson. Imetelstat was intended to treat certain cancers that occur in bone marrow, and the IMbark study was designed to ascertain whether imetelstat helped patients with a cancer called myelofibrosis.
On September 27, 2018, Geron Corporation announced that patients in the IMbark study had shown only a 10% spleen response rate and a 32% symptom response rate. The Company also announced that Janssen had terminated its partnership with Geron Corporation for the development of imetelstat.
Shares of Geron Corporation (NASDAQ: GERN) declined from $6.08 per share on September 3, 2018 to as low as $0.98 per share on December 17, 2018.
According to the complaint the plaintiff alleges on behalf of purchasers of Geron Corporation (NASDAQ: GERN) common shares between March 19, 2018 and September 26, 2018, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between March 19, 2018 and September 26, 2018, the defendants: misled investors about the results of a clinical drug study of imetelstat called IMbark; and that as a result, defendants' statements about Geron's business, operations, and prospects were materially false and misleading and lacked a reasonable basis at all relevant times.
Those who purchased shares of Geron Corporation (NASDAQ: GERN) have certain options and should contact the Shareholders Foundation.
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