FRANK & BIANCO LLP Announces Investigation of Geron Corporation
NEW YORK, March 18, 2014
NEW YORK, March 18, 2014 /PRNewswire/ -- (PR Newswire) – FRANK & BIANCO LLP is
investigating potential securities fraud claims against Geron Corporation
("Geron" or the "Company") (NASDAQ: GERN) and certain of its officers, on
behalf of purchasers of Geron's securities between June 16, 2013 and March 11,
2014, inclusive (the "Class Period").
The investigation concerns possible violations of the federal securities laws
that occurred when the Company and certain of its officers issued materially
false and misleading statements or omitted to state material information
during the Class Period regarding imetelstat, Geron's first-in-class
telomerase inhibitor currently in development for the treatment of hematologic
malignancies. As a result of these misstatements and omissions, Geron's
securities traded at artificially inflated prices throughout the Class Period.
On March 12, 2014, the Company issued a press release announcing that the U.S.
Food and Drug Administration ("FDA") had halted clinical trials of
imetelstat. The FDA cited concerns about persistent liver function test
("LFT") abnormalities reported in patients participating in clinical trials,
and the potential risk of chronic liver injury following long-term exposure to
the drug. In addition, the FDA expressed concern about whether the reported
LFT abnormalities are reversible. On this news, the Company's stock price
dropped $2.71 per share, more than 60%, on heavy trading volume.
If you purchased Geron securities within the Class Period, and you wish to
discuss this investigation, or have any questions concerning this notice or
your rights or interests with respect to these matters, please contact us.
FRANK & BIANCO LLP
SOURCE Frank & Bianco LLP
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