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Securities

Mar. 17, 2025

Biotech giant Geron Crop accused of false Rytelo hype

Geron Corp. is accused of misleading shareholders about Rytelo's success, as stock dropped 32% after disappointing earnings, sparking claims of overstated growth and market challenges.

Biotech giant Geron Crop accused of false Rytelo hype
Adam Apton. Photo courtesy of Levi & Korsinsky LLP

Geron Corp., a multibillion-dollar Foster City biotech company specializing in drugs that fight blood cancer, was accused by shareholders of furnishing "materially false and misleading" statements regarding a "first-in-class" drug. They seek damages after the company's stock price fell 32% in a single day on Feb. 26.

At the center of the dispute is one of Geron's latest medications Rytelo, whose generic name is imetelstat. The company describes the dru...

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