Needham & Co Comments On Geron (GERN) After GE Healthcare News

Analysts at Needham & Co commented on this morning's market mover Geron Corporation (Nasdaq: GERN) (+18%) after the company announced a global exclusive license aggreement with GE Healthcare to develop and commercialize cellular assay products derived from human embryonic stem cells (hESCs) for use in drug discovery, development and toxicity screening.

Needham said with the financial terms not disclosed they expect the terms to be "modest," but notes the value of the opportunity lies in the quality of the partner as well as the efforts of the Company to leverage its ESC technology platform.

Given the expected upcoming Phase 1 trial initiation for the GRNOPC1 program as well as anticipated progress in other Geron programs, Needham reiterates their BUY rating and $9 price target.

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