There are a few other biopharmaceutical companies that could see much more volatility lined up over the next few weeks with key FDA decisions pending. 24/7 Wall St. puts together a monthly calendar of these events and what to look for before the news hits.
Such decisions have the potential to make or break companies. There is a fair amount to a great amount of risk involved, should a study come back negative or should a candidate not be approved. Conversely, if a drug is approved or passes a clinical trial, there can be massive upside.
In terms of Geron, the FDA granted a Fast Track designation to imetelstat for the potential treatment of adult patients with transfusion-dependent anemia due to low or intermediate-1 risk myelodysplastic syndromes that are non-del(5q) and that are refractory or resistant to treatment with an erythropoiesis stimulating agent.
For some quick background: imetelstat is a telomerase inhibitor initially developed by Geron and exclusively licensed to Janssen Biotech, a subsidiary of Johnson & Johnson (NYSE: JNJ), on a worldwide basis. Janssen sponsored the application for Fast Track designation utilizing preliminary data from IMerge, the ongoing clinical trial being conducted by Janssen in lower risk myelodysplastic syndromes.
Through the Fast Track program, a product candidate may be eligible for priority review, if supported by the clinical data, and for the ability to submit completed sections of a New Drug Application (NDA) on a rolling basis as data become available prior to completion of the full application.
Shares of Geron were last seen trading up 7.5% at $2.21, with a consensus analyst price target of $3.75 and a 52-week trading range of $1.81 to $3.15.
Johnson & Johnson traded at $139.36 a share. The stock has a 52-week range of $109.32 to $144.35 and a consensus price target of $144.81.
The Average American Is Losing Their Savings Every Day (Sponsor)
If you’re like many Americans and keep your money ‘safe’ in a checking or savings account, think again. The average yield on a savings account is a paltry .4% today, and inflation is much higher. Checking accounts are even worse.
Every day you don’t move to a high-yield savings account that beats inflation, you lose more and more value.
But there is good news. To win qualified customers, some accounts are paying 9-10x this national average. That’s an incredible way to keep your money safe, and get paid at the same time. Our top pick for high yield savings accounts includes other one time cash bonuses, and is FDIC insured.
Click here to see how much more you could be earning on your savings today. It takes just a few minutes and your money could be working for you.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
