Geron Corporation reported its financial results for the first quarter of 2025, revealing a significant increase in revenue driven by the commercialization of its product, RYTELO. The company generated total revenues of $39.6 million for the three months ended March 31, 2025, compared to just $304,000 in the same period last year. This increase was primarily attributed to product revenue of $39.4 million from RYTELO, which was launched in June 2024 following FDA approval. The company also recognized $167,000 in royalty revenue, a decrease from $304,000 in the prior year.
In terms of expenses, Geron reported total operating expenses of $56.3 million, slightly down from $56.4 million in the previous year. Notably, research and development expenses decreased by 49% to $15.1 million, reflecting reduced clinical trial costs following the FDA approval of RYTELO. Conversely, selling, general, and administrative expenses rose by 48% to $40.0 million, driven by increased personnel costs to support the product launch. The net loss for the quarter was $19.8 million, a significant improvement from the $55.4 million loss reported in the same quarter of 2024.
Operationally, Geron has made strides in expanding its market presence. The company is preparing for the commercialization of RYTELO in select European markets, following its recent marketing authorization by the European Commission. Geron plans to collaborate with third parties for this expansion, focusing on critical activities such as reimbursement and market access. The company is also advancing its clinical trials for imetelstat, with the Phase 3 IMpactMF trial nearing completion of enrollment.
As of March 31, 2025, Geron had approximately $457.5 million in cash, cash equivalents, restricted cash, and marketable securities, a decrease from $502.9 million at the end of 2024. The company’s liquidity is bolstered by a $125 million loan agreement with Pharmakon Advisors, which provides additional capital for operational needs. However, Geron cautioned that its future financial performance is contingent on the successful commercialization of RYTELO and the ability to generate sufficient revenue to support ongoing operations and development efforts. The company anticipates increased operating expenses as it continues to invest in its commercialization strategy and clinical trials.
About GERON CORP
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