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Biotech / Medical : Geron Corp.

GERN 1.200

+3.9%

3:59 PM EST

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From: idos	12/14/2006 9:27:40 AM
	of 3576

Geron to Offer $40 Million in Stock MENLO PARK, Calif. (AP) -- Biopharmaceutical company Geron Corp. on Thursday said it plans to sell $40 million in stock to raise funds for clinical trials of its potential cancer treatments and cancer vaccine. Geron has agreed to sell common shares to institutional investors at $8 a piece -- a 17 percent discount to the stock's closing price of $9.34 Wednesday on the Nasdaq. The offer amounts to 5 million shares. The company plans to issue warrants with a 75-day exercise period to purchase another $15 million of common stock at the same price. It will also offer longer-term warrants to buy 3 million shares at a higher price. "We want to maintain a strong balance sheet as we progress to and through these and potentially other trials," said Chief Financial Officer David Greenwood, in a statement. Geron shares lost 68 cents, or 7.3 percent, to $8.66 in premarket activity.

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