The healthcare industry is taking the stock market by storm today. First, we saw InspireMd (NYSEAMERICAN:NSPR) increase more than 20% in the early hours of the trading day. Now, we are looking at Geron Corporation (NASDAQ:GERN), who is seeing an increase in its stock price for the second day in a row.
What Happened?
It is highly likely Geron Corp.’s stock has witnessed an increase for two consecutive days due to the MedTechBio article that was published on Monday. Geron Corp. ended the trading day yesterday at $2.35 and it is currently trading at $2.53. For perspective, this puts the GERN stock up $0.18, or 7.66%. Over the last year, the company has been trading between a range of $3.15 and $1.74.
While Geron Corporation has had a successful couple of months, from announcing on December 6 that it will be hosting an investor meeting on December 19, to announcing on December 12 that it will be presenting four separate presentations at the 59th American Society of Hematology Annual Meeting and Exposition.
Read More News About Biotech Stocks >>
However, while there is a chance investors could still be feeling optimistic about the company after a successful month of December, I think both yesterday and today’s jump was caused by the MedTech Bio article. This article stated that Celgene investors might have to start keeping an eye on this clinical stage biopharmaceutical company. More specifically, there are people who now believe that, when it comes to providing transfusion independence for MDS patients, that Geron’s Imetelstat, is much more effective than Celgene’s Revlimid.
To simplify, Celgene’s products might start to become less popular in the marketplace, with Geron Corporation taking its place. Personally, I can see this happening. It makes sense considering it is possible for Celgene’s profitability to drop if sales of Revlimid take a tumble. Meanwhile, Geron’s Imetelstat has already received fast-track designation from the FDA in regards to the treatment of MDS. This means the Menlo Park, California-based company is in an attractive position with the agency.
The Takeaway
It seems there’s a lot of optimism surrounding this company, so I’m wondering in what direction Geron is going to continue to head in for the rest of the year.
What do you think?
Featured Image: usmarketsdaily.com
