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Biotech / Medical : Geron Corp. -- Ignore unavailable to you. Want to Upgrade?

To: Anthony@Pacific who wrote (1644)	11/10/1998 9:43:00 PM
From: Dan Michaels	Read Replies (1) \| Respond to of 3576

Here's the article: (Note that the CFO did NOT say the rise in price was unwarranted An analyst (with his own motives) said so. Unlike your previous claim) I did not see the other news article you were referring to. ********************************************************** NEW YORK (Dow Jones)--Geron Corp. (GERN) shares fell 3 7/16, or 20%, Monday, after adding about 9 5/8 to their value over the last two trading sessions. "It is profit taking, pure and simple," OrbiMed Advisors' Michael Sheffery said. The biopharmaceutical company's stock gained more than 100% last Thursday and Friday, Sheffery said, adding that he didn't think Geron's announcement last week deserved such an increase. Geron announced Friday that the Menlo, Calif., company financially backs two research teams that were able to grow human-stem cells, which would enable scientists to grow human tissue for transplants. Chief Financial Officer David Greenwood said that despite Monday's drop, the stock remains higher than pre-announcement levels. What intrigues Greenwood is the stock's volume of 8.2 million shares, compared with average volume of 802,886. Greenwood said, "this is extraordinary volume for any biotech company, particularly one the size of Geron" with about $1.5 million in revenue for the second quarter ended June 30. The stock's volume indicates "there is still substantial interest in the stock," Greenwood said. The executive sees the stock fighting out over the next couple of days a new "equilibrium" - a post-announcement trading range and volume. Geron stock settled up 20% at 13 3/4. - Jessica Madore Fitch; 201-938-5172