Geron Stock Climbs After Trial Findings Announced
From Associated Press (November 11, 2010)
INDIANAPOLIS -- Shares of Geron Corp. climbed Thursday after the biotechnology company announced positive developments for a potential cancer treatment in mid-stage clinical testing.
THE SPARK: The Menlo Park, Calif., company said trial data showed that its drug candidate imetelstat targets cancer stem cells from multiple myeloma, pancreatic and breast cancers.
Geron said cancer stem cells are rare malignant cells believed to be responsible for tumor growth, recurrence and metastasis, and their resistance to chemotherapy and other treatments makes them important targets for new therapies. It said the data is significant because it shows that these cells can be targeted, and this is tied to a survival benefit in animals.
THE BACKGROUND: Geron has been developing stem cell-based therapies for about a decade. In January 2009, it became the first company to receive Food and Drug Administration approval to conduct early-stage clinical trials on a stem-cell based therapy aimed at treating severe spinal cord injuries. Earlier this year, Geron said imetelstat inhibited the activity of the brain cancer, glioblastoma.
SHARE ACTION: Up 21 cents, or 3.6 percent, to $6.01 in afternoon trading Thursday.
Posted: November 2010