Geron Corp. Files Q3 2024 10-Q

TL;DR

Geron's Q3 10-Q is in, check financials and biz updates.

AI Summary

Geron Corp. filed its 10-Q for the period ending September 30, 2024. The company reported financial results and provided updates on its business activities. Key financial figures and operational details are included in this filing.

Why It Matters

This filing provides investors with the latest financial performance and operational status of Geron Corp., crucial for understanding the company's trajectory in the pharmaceutical sector.

Risk Assessment

Risk Level: medium — As a pharmaceutical company, Geron faces inherent risks related to drug development, regulatory approvals, and market competition.

Key Numbers

• 2024-09-30 — Reporting Period End Date (The end date for the financial information presented in the 10-Q.)
• 2024-01-01 — Quarter Start Date (The beginning of the third fiscal quarter for which results are reported.)
• 2024-03-31 — First Quarter End Date (Indicates a period related to a public offering of common stock and warrants.)
• 2024-07-01 — Third Quarter Start Date (The beginning of the period for chargeback and distributor service fees.)

Key Players & Entities

• GERON CORP (company) — Filer
• 20240930 (date) — Period of Report
• 20241107 (date) — Filing Date
• Andrew J. Grethlein, PhD (person) — Mentioned in relation to specific periods
• Hercules and Silicon Valley Bank (company) — Mentioned in relation to amendments and credit facilities

FAQ

Key Financial Figures

• $0.001 — ge on which registered: Common Stock, $0.001 par value GERN The Nasdaq Stock Mar

Filing Documents

• gern-20240930.htm (10-Q) — 2559KB
• gern-ex10_1.htm (EX-10.1) — 112KB
• gern-ex31_1.htm (EX-31.1) — 16KB
• gern-ex31_2.htm (EX-31.2) — 16KB
• gern-ex32_1.htm (EX-32.1) — 8KB
• gern-ex32_2.htm (EX-32.2) — 8KB
• 0000950170-24-123282.txt ( ) — 9125KB
• gern-20240930.xsd (EX-101.SCH) — 1138KB
• gern-20240930_htm.xml (XML) — 1636KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1:

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Operations 4 Condensed Consolidated Statements of Comprehensive Loss 5 Condensed Consolidated Statements of Stockholders' Equity 6 Condensed Consolidated Statements of Cash Flows 9 Notes to Condensed Consolidated Financial Statements 10 Item 2:

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 26 Item 3:

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 36 Item 4:

Controls and Procedures

Controls and Procedures 36

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1:

Legal Proceedings

Legal Proceedings 37 Item 1A:

Risk Factors

Risk Factors 37 Item 2: Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securitie s 79 Item 3: Defaults Upon Senior Securities 79 Item 4: Mine Safety Disclosures 79 Item 5: Other Information 79 Item 6: Exhibits 80

SIGNATURES

SIGNATURES 81 RYTELO TM and other trademarks or service marks of Geron Corporation appearing in this Quarterly Report on Form 10-Q (this "Report") are the property of Geron Corporation. This Report contains additional trade names, trademarks and service marks of others, which are the property of their respective owners. We do not intend our use or display of other companies' trade names, trademarks or service marks to imply a relationship with, or endorsement or sponsorship of us by, these other companies.

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS (UNAUDITED)

ITEM 1. FINANCIAL STATEMENTS (UNAUDITED) GERON CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS (IN THOUSANDS) SEPTEMBER 30, DECEMBER 31, 2024 2023 ASSETS Current assets: Cash and cash equivalents $ 60,344 $ 70,023 Restricted cash 1,854 1,115 Marketable securities 279,430 263,676 Accounts receivable, net 28,007 — Interest and other receivables 2,082 1,655 Inventory 20,283 — Prepaid expenses and other current assets 6,057 4,879 Total current assets 398,057 341,348 Noncurrent marketable securities 37,312 43,298 Property and equipment, net 1,595 1,177 Operating leases, right-of-use assets 3,055 3,556 Deposits and other assets 4,931 4,697 $ 444,950 $ 394,076 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 13,734 $ 6,161 Accrued compensation and benefits 15,180 13,759 Operating lease liabilities 968 949 Debt 71,562 46,893 Accrued liabilities 36,489 40,308 Total current liabilities 137,933 108,070 Noncurrent operating lease liabilities 2,458 3,006 Noncurrent debt 12,275 35,051 Commitments and contingencies Stockholders' equity: Common stock 603 545 Additional paid-in capital 2,037,653 1,844,988 Accumulated deficit ( 1,746,989 ) ( 1,597,769 ) Accumulated other comprehensive loss 1,017 185 Total stockholders' equity 292,284 247,949 $ 444,950 $ 394,076 See accompanying notes. 3 GERON CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA) (UNAUDITED) THREE MONTHS ENDED NINE MONTHS ENDED SEPTEMBER 30, SEPTEMBER 30, 2024 2023 2024 2023 Revenues: Product revenue, net 28,209 — 28,989 — Royalties 62 164 468 214 Total revenues $ 28,271 $ 164 $ 29,457 $ 214 Operating expenses: Cost of goods sold 456 — 473 — Research and

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View this 10-Q filing on SEC EDGAR