If you are currently looking into stocks that made handsome gains last week, then it might be a good time to take a closer look at the Geron Corporation (NASDAQ:GERN) stock.
On Friday, the stock went up by as much as 30% as investors piled on to it in a big way after Geron published the data from the Phase 2 clinical study of its product imetelstat. The product is meant for treating a rare form of bone marrow cancer named myelofibrosis. In addition to that, it is important to point out that the results were actually published in the Journal of Clinical Oncology.
More importantly, the results proved to be a positive as far as the prospects of the product are concerned. The patients who had earlier had unsatisfactory outcomes from other medicines experienced a range of benefits once they were treated with imetelstat.
Overall survival rate went up and in addition to that, there were improvements with regards to many symptoms as well. However, there is still a long way to go before the product can hit the market. Geron is going to finish the enrolment process for the Phase 3 study of the product at some in the second half of the year.
Market Reaction:
On Friday, GERN stock increased by 29.79% to $1.83 with more than 348.29 million shares, compared to its average volume of 7.40 million shares. The stock has moved within a range of $1.5200 – 2.2300 after opening the trade at $1.63. Over the past 52-week, the stock has been trading within a range of $1.2200 – 2.3600.
Moving Averages
| +/- EMA(20) | 1.47 (+24.49%) |
| +/- SMA(50) | 1.43 (+27.97%) |
| +/- SMA(200) | 1.71 (+7.02%) |
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