My mid-year review of GERN
INTRO Here's my semi-annual exercise to see if I remember why I own the stocks I own, and so I can check back and see if their stories have changed. I post in case it helps others too.
Geron
GERN (market cap is $0.870B was $2.14B)
Geron, whose name is short enough that I don't have to use its symbol, is a leading-edge biotech that has a treatment for (pardon the copy and paste from their site) "low- to intermediate-1 risk myelodysplastic syndromes (MDS) in adults", aka certain blood cancers. They continue to develop treatments based on telomeres, the molecules which regulate chromosomal death, hence other cancers (and possibly auto-immune disorders?).
While Geron is considered leading-edge and is to be congratulated on their first FDA approval, their process has been long, which enables competition, and despite commercialization, has not become profitable. (2024 revenue of ~$77M but with expenses of ~$146M) Their financial situation looks much better than the previous decades of R&D, but the investing community has not been impressed. At least patients are finally being treated. Hopefully, the company becomes profitable, and the stock will reflect that.
I expected more. Geron's original goals were grander, basically being able to control many aspects of aging through telomeres, stem cells, and nuclear transfer, as I recall. They commissioned panels for actual wisdom and boldly embraced debate. I know they sold off some of the technologies (which is why I bought shares of LCTX) as a survival strategy. I get the impression that those first managers, founders, and officers have been replaced by lowered expectations. I expected a more aggressive introduction of their first product, more publicity for the success of an innovative technology, and a re-invigoration of that original mindset.
I see Geron from two perspectives. One: I shouldn't buy more if this is all there is after holding the stock since 1999/2000. Two: Finally, they may succeed thanks to the technology despite management.
I bought more after selling my house. I guess I'm a cautious optimist.
DISCLOSURE LTBH since 1999 and continuing to hold.
(I've also collected links to the other discussion boards and my other stocks over on my blog. trimbathcreative.net
& from my One Company One Story series on YouTube
youtu.be )
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