The recent performance posted by stock price of Geron Corporation (NASDAQ:GERN) states that time has helped the company to recover from its weakness seen a couple of months ago. Calmer heads pertaining to prescription drug reform combined with a corporate presentation prompted the stock to climb up on the chart.
The highlights
The stock price of Geron, a small-cap biopharmaceutical firm in its clinical stage and focused on the advancement of imetelstat, an experimental therapy for myelofibrosis, jumped by 26% in October based on report from S&P Capital IQ. Predominantly, a lack of follow-through from policymakers pertaining to prescription drug reform resulted in a rally in GERN shares.
In September, the shares were creamed following anoffer from presidential candidate Mr. Hillary Clinton to reform the process used for pricing of prescription drugs. Clinton’s suggestions called for likely reductions in patent length, and provided the government increased power to negotiate prices for Medicare and government agencies.
The significance
Because there is no treatment for myelofibrosis, which is a rare type of bone marrow cancer leading to damaging of the bone marrow, any projected approval would likely make imetelstatquite pricey. As a result, Geron’s experimental candidate would come in the list of many therapies potentially aimed by prescription drug reform.It is more than a month and demand for prescription reform is still out there, but the pitchfork and fire attack on drug developer firms has softenedintensely.
In addition, Geron Corporation (NASDAQ:GERN) participated in the BIO Investor Forum last month, demonstrating imetelstat for market participants and investors. The presentation showcased the open-label, single-blind phase IIIMbarkstudy evaluating myelofibrosis patients that commenced in September. Offering transparent study details for investors and denoting to imetelstat as “transformative” numerous times during the demonstrationpositively caught the investors’ attention. The existing scenario suggests that the drug advancement is exciting and the company may have a blockbuster treatment in its portfolio.