Geron Corp (NASDAQ:GERN) Reports Mixed Q3 2025 Results, Misses Revenue Estimates

Geron Corporation (NASDAQ:GERN) reported its third quarter 2025 financial results, delivering a mixed performance that has elicited a cautious response from investors in early trading. While the company demonstrated significant year-over-year revenue growth for its flagship product RYTELO, it fell short of analyst sales expectations for the quarter, contributing to negative pre-market price movement.

Financial Performance Versus Estimates

The biopharmaceutical company's Q3 2025 results present a complex picture of commercial execution and market expectations.

• Revenue Results: Geron reported total revenues of $47.2 million for the quarter, falling short of the analyst consensus estimate of approximately $53.9 million. This represents a significant 67% increase from the $28.3 million reported in Q3 2024 but indicates that sales growth may be decelerating relative to market forecasts.
• Earnings Performance: The company reported a net loss of $18.4 million, or $0.03 per share. This slightly outperformed the estimated loss of $0.0337 per share, indicating better-than-expected cost control despite the revenue miss.
• Product Demand: A notable detail from the report was a 3% quarter-over-quarter decline in demand for RYTELO, though the company expanded its ordering accounts by approximately 150 to reach 1,150 total accounts.

Market Reaction and Outlook

The market's initial reaction appears to be weighing the revenue miss more heavily than the earnings beat. The stock traded down approximately 2.6% in pre-market activity following the earnings release. This negative sentiment aligns with the stock's recent performance trends, which have seen declines over the past week, two weeks, and month.

Looking forward, the company provided updated financial guidance for 2025, lowering its total operating expense projection to a range of $250-$260 million from the previously guided $270-$285 million. This cost discipline suggests management is taking a prudent approach to cash management. Geron stated that its current financial resources, combined with anticipated RYTELO revenues, should fund operations "for the foreseeable future."

Business Highlights and Pipeline Progress

Beyond the financial figures, Geron highlighted several significant operational milestones in the quarter.

The company completed enrollment of 320 patients in its pivotal IMpactMF Phase 3 clinical trial for relapsed/refractory myelofibrosis in September 2025. This represents a major inflection point for Geron's pipeline, with an interim analysis for overall survival expected in the second half of 2026 and final analysis anticipated in the second half of 2028.

Geron also strengthened its leadership team with the appointment of Ahmed ElNawawi as Chief Commercial Officer and three additional executives, signaling a focus on optimizing commercial execution for RYTELO. The company will have multiple data presentations at the upcoming ASH 2025 Annual Meeting, which may serve as future catalysts for physician education and adoption.

Financial Position

Geron's balance sheet remains robust, with approximately $421.5 million in cash, cash equivalents, restricted cash and marketable securities as of September 30, 2025. While this represents a decrease from the $502.9 million reported at the end of 2024, the company's reduced operating expense guidance suggests a lengthened cash runway.

The company continues to invest heavily in commercial operations, with selling, general and administrative expenses reaching $39.0 million for the quarter, up from $35.9 million in the same period last year, primarily due to increased sales and marketing personnel and programs.

For investors seeking more detailed analysis, additional earnings information and future estimates for Geron Corporation can be reviewed here.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. The author has no position in GERON CORP (GERN). Investors should conduct their own research and consult with a qualified financial advisor before making any investment decisions.