Geron Corporation (NASDAQ:GERN) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Geron Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.09 in the quarter versus EPS of $-0.15 in the year-earlier quarter.
Revenue: Decreased 38.4% to $770,000 from the year-earlier quarter.
Actual vs. Wall St. Expectations: Geron Corporation reported adjusted EPS loss of $0.09 per share. By that measure, the company missed the mean analyst estimate of $-0.08. It beat the average revenue estimate of $710,000.
Quoting Management: “The compelling proof-of-concept data from our trial of imetelstat in ET and the progress made in the current myelofibrosis study at Mayo Clinic support Geron`s focus on the development of imetelstat in hematologic myeloid malignancies. Diseases such as myelofibrosis represent the greatest value-creating opportunity for the company because many patients with these diseases have significant unmet medical needs and imetelstat has the potential to be a disease-modifying treatment,” said John A. Scarlett, M.D., Geron`s President and Chief Executive Officer. “The actions announced today allow us to concentrate our financial and operational resources solely on this development strategy.”
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