Geron Corp (GERN) Reports Q4 Loss of $0.06, Cuts Workforce

Geron Corp (NASDAQ: GERN) reported Q4 EPS of ($0.06), versus ($0.07) reported last year. Revenue for the quarter came in at $178 million, versus $225 million reported last year.

Given projected reduced operational demands as a result of the collaboration with Janssen, the company is conducting an organizational resizing which will reduce its workforce from 39 to 21 positions. In connection with this action, the company expects to incur restructuring charges of approximately $1.9 million, the majority of which will be recognized in the first half of 2015. Approximately $1.5 million of these charges is expected to be paid in cash during 2015. The company expects the resizing will reduce the company’s personnel-related costs by approximately $5.0 million on an annualized basis.

For earnings history and earnings-related data on Geron Corp (GERN) click here.

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