Geron Corporation Reports 31% Revenue Increase to $51.8 Million in Q1 2026

Geron Corporation reported its financial results for the first quarter of 2026, revealing a total revenue of $51.8 million, a 31% increase from $39.6 million in the same period of 2025. The growth was primarily driven by product revenue from RYTELO, which amounted to $51.8 million, up from $39.4 million a year earlier. The increase in product sales was attributed to higher sales volumes and a modest increase in selling prices, although this was partially offset by increased gross-to-net adjustments, which rose to 20.8% of gross product revenue compared to 13.0% in the prior year.

In terms of expenses, Geron reported total costs and operating expenses of $51.7 million, down 8% from $56.3 million in the previous year. The decrease was largely due to a reduction in selling, general, and administrative expenses, which fell by 11% to $35.4 million, reflecting lower personnel-related costs following a workforce reduction implemented in December 2025. Research and development expenses remained relatively stable at $15.0 million, a slight decrease from $15.1 million in the prior year. The company reported a net loss of $3.6 million for the quarter, significantly improved from a net loss of $19.8 million in the same period last year.

Operationally, Geron has focused on the commercialization of RYTELO, which was launched in the U.S. in June 2024 following FDA approval. The company is also preparing for the product's launch in select European markets, having received marketing authorization from the European Commission in March 2025. Geron has partnered with Tanner Pharma to facilitate patient access to RYTELO outside the U.S. through Named Patient Programs, although revenue from these programs has been minimal to date.

As of March 31, 2026, Geron had cash, cash equivalents, restricted cash, and marketable securities totaling approximately $341 million, a decrease from $401 million at the end of 2025. The company has entered into a loan agreement with Pharmakon Advisors, which includes a $125 million Tranche A Loan and potential additional tranches subject to certain conditions. Geron is also obligated to make royalty payments to Royalty Pharma based on future U.S. net sales of RYTELO, with the total payments capped at multiples of the initial purchase price.

Looking ahead, Geron anticipates that its financial performance will continue to be influenced by the success of RYTELO in the market, as well as ongoing clinical trials for other indications. The company remains focused on expanding its commercialization efforts and managing operational costs effectively, while also preparing for potential future funding needs to support its growth strategy.