Geron 2025 Q2 Earnings Narrowed Losses and Strong Revenue Surge

Geron Corporation (GERN) reported its fiscal 2025 Q2 earnings on August 7, 2025, showcasing a 5459.6% revenue increase to $49.04 million year-over-year and a 75.7% reduction in net loss to $-16.38 million. The company maintained its operating expense guidance for 2025 and affirmed that current financial resources, combined with U.S. sales of RYTELO, are expected to fund operations for the foreseeable future.

Revenue
Geron’s total revenue for Q2 2025 reached $49.04 million, driven by a significant increase in product sales. The company’s net product revenue stood at $49.01 million, reflecting robust U.S. sales of its FDA-approved drug, RYTELO. In addition to this, the company generated $29,000 in royalties, contributing to the overall total revenue. This represents a dramatic increase from just $882,000 in the same period a year earlier, highlighting the successful commercialization of RYTELO since its approval in June 2024.

Earnings/Net Income
Despite a narrowing of the per-share loss to $0.02 in Q2 2025 compared to $0.10 in Q2 2024, Geron continued to report a net loss of $-16.38 million, representing a 75.7% improvement over the $-67.38 million net loss in the prior year. While the company remains unprofitable, these results indicate a meaningful reduction in losses and improved operational efficiency.

Price Action
Following the earnings report, GERN’s stock demonstrated a positive price movement, rising 6.92% on the latest trading day and 26.36% over the prior full trading week. The stock also saw a modest increase of 1.46% month-to-date.

Post-Earnings Price Action Review
Despite the company’s strong revenue and improved net loss, the strategy of buying GERN after a revenue miss proved highly ineffective. A 30-day holding period underperformed the benchmark by 95.63%, yielding a -11.22% return compared to the benchmark’s 84.41%. This outcome underscores the stock’s sensitivity to market sentiment and strategic challenges post-earnings.

CEO Commentary
Dawn Carter Bir, Interim President and CEO, emphasized the commercial progress made by Geron, particularly with the successful implementation of its refined sales strategy. This approach has led to notable U.S. sales growth and increased demand from a broader base of treating physicians. She highlighted the 20% expansion of the commercial sales team and the doubling of medical science liaisons, which were both achieved as planned. Bir expressed confidence that these strategic investments will enhance RYTELO adoption and awareness, while expressing optimism about the company’s future progress under Harout Semerjian’s leadership.

Guidance
For fiscal year 2025, Geron expects total operating expenses to range between $270 million and $285 million, including non-cash items such as stock-based compensation and depreciation. The company anticipates that existing cash, cash equivalents, marketable securities, and U.S. sales of RYTELO will fund projected operating requirements for the foreseeable future. The Phase 3 IMpactMF trial is expected to be fully enrolled by year-end 2025, with interim analysis in the second half of 2026 and final analysis in the second half of 2028.

Additional News
On August 6, 2025, Geron announced the appointment of Harout Semerjian as President and CEO, marking a significant leadership transition. Semerjian brings extensive experience in commercial hematology and oncology, and his appointment is expected to strengthen the company’s strategic direction. Additionally, Geron reported that its Phase 3 IMpactMF clinical trial for imetelstat in relapsed/refractory myelofibrosis has surpassed 95% enrollment, with full enrollment expected by year-end 2025. The company also highlighted its participation in several key medical and scientific presentations at the 2025 American Society of Clinical Oncology (ASCO) Annual Meeting and the European Hematology Association (EHA) 2025 Congress, which further supported the potential of RYTELO in treating patients with lower-risk myelodysplastic syndromes.