Taxi, the company has conducted "nonstop interviews" with the print and broadcast media since yesterday (see bold in WSJ article below). But, stock is retreating regardless. I had a fun time trading today and am short. Looking for 10-11 in a week.
Geron Shrs Continue Rise As Study Data News Spreads
Dow Jones Newswires
NEW YORK -- Shares of Geron Corp. (GERN) continued their rapid rise Wednesday after the
company said it has found a way to extend the lifespan of normal human cells.
Geron shares gained more than 65% since Tuesday morning, when word of Geron's cell-lifespan study
results first started to circulate. By early Tuesday afternoon, when trading in Geron stock was halted,
shares had risen nearly 25%. After Geron formally released the data, shares shot up to 14 3/8,
recording a 43.8% total gain Tuesday.
Shares of Geron were recently up 7/8, or 6.1%, at 15 1/4 on Nasdaq volume of 4.2 million, compared
with daily average volume of 209,100 shares. Earlier, they were as high as 17.
David Greenwood, Geron's chief financial officer, said that once the company formally released the
news Tuesday, company officials and researchers conducted non-stop interviews with television, cable
and print media.
The study found that use of a newly discovered human gene called telomerase essentially resets the
natural limit on the number of times a human call can divide. Geron, of Menlo Park, Calif., is exploring
the use of the telomerase gene to extend the lifespan of many types of human cells, including skin
cells, various blood vessel cells and immune cells.
The company hopes the technology will eventually be used in treating age-related disease and in
helping diagnose and treat cancer. |
