Stock Market

Why Is Geron (GERN) Stock Up 18% Today?

Source: Corona Borealis Studio / Shutterstock

Geron (NASDAQ:GERN) stock is heading higher on Friday after getting approval from the U.S. Food and Drug Administration (FDA) for RYTELO.

RYTELO is the company’s “adult patients with low- to intermediate-1 risk myelodysplastic syndromes (MDS) with transfusion-dependent (TD) anemia.” This is a blood cancer that often leaves patients with anemia, fatigue and shortened survival periods.

Rami Komrokji, MD, an investigator in the RYTELO clinical trials, said the following about the approval:

“What is exciting about RYTELO is the totality of the clinical benefit across LR-MDS patients irrespective of ring sideroblast status or high transfusion burden, including sustained and durable transfusion independence and increases in hemoglobin levels, all within a well-characterized safety profile of generally manageable cytopenias. The treatment goal for patients with LR-MDS and anemia is transfusion-independence and before today, this wasn’t possible for many patients.”

How This Affects GERN Stock

With this news comes heavy trading of GERN shares today. This has more than 54 million units on the move as of this writing. That’s well above the company’s daily average trading volume of about 12.9 million shares.

GERN stock is up 18.4% as of Friday morning and up 114.9% since the start of the year.

Investors will want to keep reading for more of the latest stock market stories today!

We have all of the hottest stock market news traders need to know about on Friday. A few examples include what’s happening with shares of Apple (NASDAQ:AAPL) stock, a Nvidia (NASDAQ:NVDA) stock split and meme stock movement today. You can catch up on all of that at the following links!

More Friday Stock Market News

On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


Article printed from InvestorPlace Media, https://investorplace.com/2024/06/why-is-geron-gern-stock-up-18-today/.

©2024 InvestorPlace Media, LLC

Source link

Share with your friends!

Leave a Reply

Your email address will not be published. Required fields are marked *

Sign up now for breaking stock alerts

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.