Geron Corp (GERN): Cutting PT From $6 To $5 - FBR
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FBR Capital analyst, Thomas Yip, reiterated his Outperform rating on shares of Geron Corporation (NASDAQ: GERN) but cut his price target to $5 from $6 based on amendments to the Phase II IMbark trial of imetelstat for the treatment of myelofibrosis (MF). The reduced PT is due to a higher clinical risk for imetelstat and a six-month delay of the projected approval for the MF indication (from late 2021 to mid-2022).
Despite the discontinued low dose arm (4.7 mg/kg), the analyst anticipates IMbark to go on with high dose imetelstat (9.4 mg/kg) without delay.
Shares of Geron Corporation closed at $2.30 yesterday.
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