Boston, MA – (Financialstrend) – 03/24/2014 – Scarlato Karon and Penny, P.C. is now investigating certain potential claims on behalf of the investors who have bought Geron Corporation (NASDAQ:GERN) stock between 16 June 2013 & 11 March 2014, inclusive. This includes the investors who bought the Geron Corporation (NASDAQ:GERN) shares in its 30 January 2014 secondary PO. This investigation is related to whether Geron Corporation (NASDAQ:GERN) and some of the company’s officers and/or the directors have violated the Sections 10(b) & 20(a) of the SEC of 1934, and the provisions of the 1933 Securities Act, in connection with the statements regarding the prospects for imetelstat, which is the cancer drug that was being developed by the company.
Specifically, this Firm is investigating veracity of the statements made by/ in the name of the Geron Corporation (NASDAQ:GERN) while the Phase II clinical-studies for imetelstat were actually underway, in light of some abnormalities that were experienced by the patients who were taking part in this study. On 12 March, 2014, Geron Corporation (NASDAQ:GERN) announced that the United States Food and Drug Administration put a full clinical-hold on this study. The FDA had cited this incidence of chronic liver-injury amongst participants in this study and concerns about whether the liver abnormities that were caused by imetelstat were also reversible. On this news, Geron Corporation (NASDAQ:GERN)’s shares dipped 61 percent, and erased over $400 million in its market value.
Geron Corporation (NASDAQ:GERN) is a clinical stage bio pharma company that involved in developing a 1st-in-class telomerase-inhibitor, that is named imetelstat, in hematologic myeloid malignancies. Telomerase is the enzyme that permits the cancer cells in the body to maintain their telomere length; this provides them with the capacity for their limitless cellular-replication. Imetelstat is the specific inhibitor of telomerase. Geron Corporation (NASDAQ:GERN) focuses on developing its drug imetelstat in the treatment of one/more hematologic-myeloid malignancies, like myelofibrosis (MF), myelodysplastic-syndromes (MDS)/acute myelogenous-leukemia (AML).