• Q1 RYTELO Net Revenues: $39.4 million, down $8 million from Q4.

• Cash and Marketable Securities: Approximately $457.5 million as of March 31, 2025.

• Research and Development Expenses: $15.1 million for Q1 2025, down from $29.4 million in Q1 2024.

• Selling, General, and Administrative Expenses: $40 million for Q1 2025, up from $27.1 million in Q1 2024.

• Total Operating Expenses Forecast: Expected to be in the range of $270 million to $285 million for fiscal year 2025.

• US Covered Lives: Approximately 85% under favorable RYTELO medical coverage policies.

• Sites of Care Utilizing RYTELO: Approximately 900 as of April 2025, an increase of almost 300 new sites since the end of Q4.

• Demand Growth: 10% increase in the current four-week period ending April 2025 compared to the prior four weeks.

• Warning! GuruFocus has detected 5 Warning Signs with GERN.

Release Date: May 07, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• RYTELO's US commercial launch is the top corporate priority, with a focus on increasing brand awareness and expanding prescriber base.

• Geron Corp (NASDAQ:GERN) has a strong financial position with approximately $457.5 million in cash and equivalents as of March 31, 2025.

• The company is implementing strategic enhancements to support US commercial success, including increasing the sales team by more than 20%.

• RYTELO has received positive feedback for its efficacy and manageable safety profile, particularly in hard-to-treat lower-risk MDS patients.

• Geron Corp (NASDAQ:GERN) is pursuing a disciplined approach to EU commercialization, leveraging third-party partnerships to minimize investment.

Negative Points

• Q1 RYTELO net revenues were $39.4 million, down $8 million from Q4, attributed to inventory drawdown among distributors.

• Demand for RYTELO was relatively flat, with only a 1% increase in the 13-week period ending March 28 compared to the prior 13 weeks.

• The company is facing challenges in expanding RYTELO's use in earlier lines of treatment, with most usage currently in the third-line plus setting.

• There is hesitancy among some healthcare providers to switch patients from standard care to RYTELO, partly due to concerns about cytopenias.

• Geron Corp (NASDAQ:GERN) is still in the process of identifying a permanent Chief Executive Officer, with a decision expected within the next six months.

Q & A Highlights

Q: With inventory impacts behind you and demand improving, how are you thinking about Q2 expectations and the expected cadence for the year? A: Jim Ziegler, Executive Vice President, Chief Commercial Officer, explained that the changes being made will start to have an impact now and going forward. The additional reps will be in the field beginning in Q3, with their impact expected later this year. They anticipate continued momentum building into Q2 and sustaining throughout 2025.