Geron halts Rytelo trial and shares plunge
Geron has halted a late-stage trial for its blood cancer treatment Rytelo after an independent review found it unlikely to meet its primary survival goal. The setback sent company shares plunging twenty percent in early trading, though analysts noted existing approvals remain secure.
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GERON CORP halted a late-stage trial for its blood cancer drug Rytelo, sending shares plunging 20% in early trading. The setback hits the company's sole commercial product during its market rollout. Rytelo generated $57.5M in second-quarter revenue.
The trial evaluated Rytelo as a myelofibrosis treatment against best available therapy. The study enrolled 327 patients whose disease returned or failed after JAK inhibitor treatment.
