Goldman Sachs on Geron Corporation (GERN): 'We are encouraged by the update, as it reflects GERN's continued commercial execution on the launch of the agent'

Goldman Sachs analyst Corinne Jenkins reiterated a Buy rating and $6.00 price target on Geron Corporation (NASDAQ: GERN)

The analyst comments "Following CMS's Third Quarter 2024 Drug and Biological Healthcare Common Procedure Coding System (HCPCS) application review cycle, CMS established the HCPCS Level II code of J0870 for Rytelo (link). Rytelo injections of 1mg will be billable through this J-code beginning January 1, 2025, in line with prior management dialog of 1Q25 (link). We are encouraged by the update, as it reflects GERN's continued commercial execution on the launch of the agent. Commercially, we expect the J-code to support the agent's adoption by physicians practicing within small community hospitals and private practice who would otherwise struggle with reimbursement. We remain bullish on the agent's commercial potential following our recent analysis of hematology drug launches, feedback from multiple KOLs, and third-party data — all suggesting greater potential for upside vs. downside risk to near-term revenue estimates (link). Ultimately, we anticipate that the initial launch quarters will be informative for the trajectory of Rytelo sales, and we continue to assume global peak sales of $1.2B. We remain Buy rated."

For an analyst ratings summary and ratings history on Geron Corporation click here. For more ratings news on Geron Corporation click here.

Shares of Geron Corporation closed at $4.44 yesterday.

You May Also Be Interested In

• Stripe, Advent In Talks To Buy Paypal - WSJ
• Critical One Energy closes second tranche of flow-through placement
• Full Circle Lithium closes $5.14M private placement