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Geron (GERN) to Report Q2 Earnings: What's in the Cards?
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Geron (GERN - Free Report) is slated to report second-quarter 2024 results on Aug 8, before the opening bell.
GERN is a clinical-stage company that focuses on developing novel therapies to treat patients living with hematologic malignancies.
Geron’s only pipeline candidate, imetelstat, is a first-in-class investigational telomerase inhibitor, which is being developed to alter the underlying course of several myeloid hematologic indications.
The Zacks Consensus Estimate is currently pegged at a loss of 11 cents per share. The Zacks Consensus Estimate for revenues is pinned at $0.86 million. Presently, Geron only earns periodic royalty revenues.
Let's see how things might have shaped up for the upcoming quarterly release.
Factors to Consider
It is important to note that in early June 2024, Geron obtained FDA approval for imetelstat to treat adult patients with low to intermediate-1 risk myelodysplastic syndromes (MDS) with transfusion-dependent anemia requiring four or more red blood cell units over eight weeks.
The agency approved the drug for patients who either did not respond or lost response to or are ineligible for erythropoiesis-stimulating agents. The FDA approved imetelstat under the brand name Rytelo for the above-mentioned indication. Rytelo works by inhibiting telomerase enzymatic activity.
The FDA approval was based on encouraging results from the late-stage IMerge study, which met its primary and key secondary endpoints.
However, Geron is yet to launch Rytelo in the U.S. market for the MDS indication. As a result, the company has not generated any revenues from the sale of the drug yet. Investors can expect an update regarding the commercial launch timeline of Rytelo in the upcoming earnings release.
Imetelstat is also currently under review in the EU for the same MDS indication. The review is expected to be completed in early 2025. An update regarding its status in the EU is also anticipated.
The company is also expected to provide updates regarding the pipeline programs when it reports its second-quarter earnings.
Apart from the MDS indication, Geron is simultaneously evaluating imetelstat in relapsed/refractory myelofibrosis (MF) in an ongoing phase III study as well as in a separate early-stage study for frontline treatment of MF. The candidate is also being evaluated in several other clinical studies for treating different hematologic indications.
Research and development expenses are expected to be consistent with the $29.4 million reported in the first quarter of 2024 as Geron continues to fund its ongoing clinical development program for imetelstat, along with the long-term treatment and follow-up of remaining patients in the pivotal IMerge study.
General and administrative expenses are likely to have risen from the previous quarter as Geron might have incurred new costs for commercial preparatory activities and higher personnel-related expenses for additional headcount.
Earnings Surprise History
Geron beat estimates in three of the trailing four quarters and missed on the remaining occasion, delivering an average surprise of 6.88%. In the last reported quarter, the company came up with an earnings surprise of 10%.
Shares of GERN have skyrocketed 121.8% year to date against the industry’s 2% decline.
Image Source: Zacks Investment Research
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Geron this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the odds of an earnings beat. Unfortunately, that is not the case here, as you will see below. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Earnings ESP: Geron has an Earnings ESP of 0.00% as the Most Accurate Estimate is in line with the Zacks Consensus Estimate.
Zacks Rank: GERN currently carries a Zacks Rank #3.
Here are some stocks worth considering from the healthcare space, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle.
Shares of Agenus have plunged 58.6% in the year-to-date period. Earnings of Agenus beat estimates in two of the trailing four quarters, matching once and missing on the remaining occasion. On average, AGEN delivered a negative surprise of 129.78% in the last four quarters.
Adverum Biotechnologies, Inc. (ADVM - Free Report) has an Earnings ESP of +1.38% and a Zacks Rank #3 at present.
Shares of Adverum Biotechnologies have gained 3.1% in the year-to-date period. Earnings of Adverum Biotechnologies beat estimates in two of the last four quarters and missed twice. ADVM delivered an average negative earnings surprise of 1.55% in the last four quarters.
Amgen Inc. (AMGN - Free Report) has an Earnings ESP of +1.03% and a Zacks Rank #3 at present.
Amgen stock has jumped 16.6% year to date. Amgen beat earnings estimates in each of the trailing last four quarters. AMGN delivered an average earnings surprise of 6.42% in the last four quarters. AMGN is set to report second-quarter earnings on Aug 6.
Image: Bigstock
Geron (GERN) to Report Q2 Earnings: What's in the Cards?
Geron (GERN - Free Report) is slated to report second-quarter 2024 results on Aug 8, before the opening bell.
GERN is a clinical-stage company that focuses on developing novel therapies to treat patients living with hematologic malignancies.
Geron’s only pipeline candidate, imetelstat, is a first-in-class investigational telomerase inhibitor, which is being developed to alter the underlying course of several myeloid hematologic indications.
The Zacks Consensus Estimate is currently pegged at a loss of 11 cents per share. The Zacks Consensus Estimate for revenues is pinned at $0.86 million. Presently, Geron only earns periodic royalty revenues.
Let's see how things might have shaped up for the upcoming quarterly release.
Factors to Consider
It is important to note that in early June 2024, Geron obtained FDA approval for imetelstat to treat adult patients with low to intermediate-1 risk myelodysplastic syndromes (MDS) with transfusion-dependent anemia requiring four or more red blood cell units over eight weeks.
The agency approved the drug for patients who either did not respond or lost response to or are ineligible for erythropoiesis-stimulating agents. The FDA approved imetelstat under the brand name Rytelo for the above-mentioned indication. Rytelo works by inhibiting telomerase enzymatic activity.
The FDA approval was based on encouraging results from the late-stage IMerge study, which met its primary and key secondary endpoints.
However, Geron is yet to launch Rytelo in the U.S. market for the MDS indication. As a result, the company has not generated any revenues from the sale of the drug yet. Investors can expect an update regarding the commercial launch timeline of Rytelo in the upcoming earnings release.
Imetelstat is also currently under review in the EU for the same MDS indication. The review is expected to be completed in early 2025. An update regarding its status in the EU is also anticipated.
The company is also expected to provide updates regarding the pipeline programs when it reports its second-quarter earnings.
Apart from the MDS indication, Geron is simultaneously evaluating imetelstat in relapsed/refractory myelofibrosis (MF) in an ongoing phase III study as well as in a separate early-stage study for frontline treatment of MF. The candidate is also being evaluated in several other clinical studies for treating different hematologic indications.
Research and development expenses are expected to be consistent with the $29.4 million reported in the first quarter of 2024 as Geron continues to fund its ongoing clinical development program for imetelstat, along with the long-term treatment and follow-up of remaining patients in the pivotal IMerge study.
General and administrative expenses are likely to have risen from the previous quarter as Geron might have incurred new costs for commercial preparatory activities and higher personnel-related expenses for additional headcount.
Earnings Surprise History
Geron beat estimates in three of the trailing four quarters and missed on the remaining occasion, delivering an average surprise of 6.88%. In the last reported quarter, the company came up with an earnings surprise of 10%.
Shares of GERN have skyrocketed 121.8% year to date against the industry’s 2% decline.
Image Source: Zacks Investment Research
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Geron this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the odds of an earnings beat. Unfortunately, that is not the case here, as you will see below. You can uncover the best stocks to buy or sell before they're reported with our Earnings ESP Filter.
Earnings ESP: Geron has an Earnings ESP of 0.00% as the Most Accurate Estimate is in line with the Zacks Consensus Estimate.
Zacks Rank: GERN currently carries a Zacks Rank #3.
Geron Corporation Price and Consensus
Geron Corporation price-consensus-chart | Geron Corporation Quote
Stocks to Consider
Here are some stocks worth considering from the healthcare space, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle.
Agenus (AGEN - Free Report) has an Earnings ESP of +7.55% and a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Agenus have plunged 58.6% in the year-to-date period. Earnings of Agenus beat estimates in two of the trailing four quarters, matching once and missing on the remaining occasion. On average, AGEN delivered a negative surprise of 129.78% in the last four quarters.
Adverum Biotechnologies, Inc. (ADVM - Free Report) has an Earnings ESP of +1.38% and a Zacks Rank #3 at present.
Shares of Adverum Biotechnologies have gained 3.1% in the year-to-date period. Earnings of Adverum Biotechnologies beat estimates in two of the last four quarters and missed twice. ADVM delivered an average negative earnings surprise of 1.55% in the last four quarters.
Amgen Inc. (AMGN - Free Report) has an Earnings ESP of +1.03% and a Zacks Rank #3 at present.
Amgen stock has jumped 16.6% year to date. Amgen beat earnings estimates in each of the trailing last four quarters. AMGN delivered an average earnings surprise of 6.42% in the last four quarters. AMGN is set to report second-quarter earnings on Aug 6.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.