Geron (NASDAQ:GERN) is focusing on expanding U.S. use of its blood cancer drug RYTELO, preparing for a commercial sale in Germany and evaluating potential deals after discontinuing a late-stage trial in another indication, executives said at a Stifel event.
CEO and President Harout Semerjian said the company recently reported its fourth consecutive quarter of growth, with quarterly net revenue exceeding $60 million. He said growth has increasingly come from community physicians treating patients with lower-risk myelodysplastic syndromes, or MDS.
Community Practices Drive RYTELO Growth
Semerjian said Geron reset its U.S. operations after announcing a reduction in force in December 2025. The company has since emphasized engagement with academic medical centers and high-volume community practices, where he said about 80% of lower-risk MDS patients are treated.
About 1,700 accounts have ordered RYTELO, with roughly 100 to 200 new accounts added each quarter, he said. That figure does not mean every account is ordering continuously.
Semerjian said 36% of patients in a 12-month look-back measure were in the first- or second-line setting, a share that has increased by approximately one to two percentage points per quarter. Geron has emphasized second-line use, he said, estimating that about 8,000 U.S. patients could benefit from RYTELO in that setting.
Geron is also educating prescribers on managing cytopenia, a reduction in blood cell counts that can occur early in treatment. Semerjian said the goal is to help physicians manage patients through early side effects so they can assess the drug’s benefit.
Joseph Eid, executive vice president of research and development and chief medical officer, said real-world publications showed that patients treated after launch were generally sicker than those in the IMerge study, but their duration on therapy resembled the trial experience in many ways.
Germany Launch Preparations
Geron expects to make a commercial sale in Germany before year-end, Semerjian said. The company is pursuing what he described as a gated, hybrid approach to European commercialization, advancing pricing preparations while retaining the option to partner.
The planned German sale would establish a visible price before the country’s AMNOG pricing process, he said. Germany is also a pricing reference market for other countries, he added.
Semerjian said selling, general and administrative expenses could rise next year as the company builds its international infrastructure, but that Geron intends to maintain financial discipline. He said the company has reduced operating expenses by another $10 million this year.
Deals in Focus After Trial Discontinuation
Following the discontinuation of the Phase 3 IMpactMF trial, Semerjian said Geron’s priorities are growing its existing business, expanding RYTELO outside the U.S. and pursuing business development. He also said the company would continue discussions about investigator-sponsored studies involving RYTELO.
Geron is interested in advanced-stage or commercial-stage hematology or oncology assets that could potentially use its existing community-based sales team, he said. Describing the company’s approach to deals, Semerjian said Geron is “hungry but not desperate.”
The company reported profitability in the latest quarter, but Semerjian said building the business for the longer term takes precedence over preserving near-term profitability. He said Geron believes it has sufficient cash to fund operations for the foreseeable future.
About Geron (NASDAQ:GERN)
Geron Corporation is a biopharmaceutical company focused on developing and commercializing therapies for blood disorders and cancers. Its lead product, Rytelo (imetelstat), is a telomerase inhibitor approved in the United States to treat certain adults with lower-risk myelodysplastic syndromes (MDS) who have transfusion-dependent anemia. Geron continues to develop imetelstat for potential use in other hematologic conditions. The company was founded in 1990 and is headquartered in Foster City, California.
