Geron : Clinical Trial Activities Impacted By COVID-19 Pandemic, Cuts Spending

(RTTNews) - Geron Corp. (GERN) said that its clinical trial activities are being impacted in countries where healthcare systems are severely affected by the COVID-19 pandemic.

Due to the circumstances, the company no longer expects to complete enrollment in the IMerge Phase 3 trial or to commence our proof of concept study in high risk MDS and AML by the end of 2020, as it had originally planned.

The company said it cannot predict the long-term effect on IMerge timelines until it has more visibility on the length of the COVID-19, crisis and its impact on its IMerge clinical trial activities.

The company said that, to actively conserve its financial resources during these uncertain times, it has implemented measures to manage its near-term cash burn, and expect its spending in 2020 will be lower than the $70 to $75 million it previously guided.