Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Geron Corporation (GERN)

/EIN News/ -- NEW YORK, March 14, 2025 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of all persons or entities who purchased or otherwise acquired Geron Corporation (“Geron” or the “Company”) (NASDAQ: GERN) securities between June 7, 2024 and February 25, 2025, inclusive (the “Class Period”).

The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company created the false impression that they possessed reliable information pertaining to its projected revenue outlook and anticipated growth while also minimizing risk from seasonality and macroeconomic fluctuations; (ii) in truth, the Company’s optimistic reports of Rytelo’s launch success and potential growth fell short of reality as the impacts of seasonality, existing competition, and the burden of continued monitoring played a much more significant role in patient starts than defendants had implied; and (iii) Rytelo lacked the necessary awareness to penetrate the market, resulting in an inability for Geron to capitalize on the purportedly significant unmet need for the drug, particularly among first-line patients and those outside the academic setting.

The Complaint further alleges that on February 26, 2025, the Company announced its financial results for the fourth quarter of fiscal year 2024, disclosing that Rytelo’s growth had flattened over the preceding months, attributing the diminished growth on seasonality, competition, lack of awareness for Rytelo, and the burden of the monitoring requirement necessary for the drug treatment. On this news, the Company’s stock price declined more than 32%.

Investors who purchased or otherwise acquired shares of Geron should contact the Firm prior to the May 12, 2025 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the firm.