Geron Earnings: Everything You Must Know Now
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.”
Key Stats (on next page)…
Revenue increased 11.59% from $690,000 in the previous quarter. EPS increased to $-0.09 in the quarter versus EPS of $-0.10 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a loss of $0.09 to a loss $0.06. For the current year, the average estimate has moved up from a loss of $0.37 to a loss of $0.27 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)