Geron Corporation (NASDAQ:GERN) announced the recent issuance of three U.S. patents related to the company’s telomerase inhibitor, imetelstat.
The first patent, U.S. 9,375,485, has claims covering the use of telomerase inhibitor compounds, including imetelstat, for alleviating at least one symptom of myelofibrosis or myelodysplastic syndromes, including chronic myelomonocytic leukemia. This patent is expected to remain in force until at least March 2033. The other two patents, U.S. 9,388,415 and U.S. 9,388,416, have claims covering methods for using imetelstat to inhibit the activity of telomerase and using imetelstat to inhibit cancer cell proliferation, as well as methods for using imetelstat to treat cancer, and are expected to remain in force until at least September 2024. These patents are related to Geron’s existing imetelstat composition of matter patent U.S. 7,494,982, which issued in 2009 and is expected to remain in force until at least December 2025.
Geron’s portfolio of patents related to imetelstat and related products whose mechanism of action is telomerase inhibition have been licensed to Janssen Biotech Inc., (Janssen) under an exclusive worldwide license and collaboration agreement for all human disorders or medical conditions.
Clinical Trials of Imetelstat
Janssen is conducting two clinical trials of imetelstat under the terms of the collaboration agreement between Geron and Janssen:
- IMbarkTM, a Phase 2 clinical trial evaluating two dosing levels of imetelstat in patients with Dynamic International Prognostic Scoring System (DIPSS) Intermediate-2 or High risk myelofibrosis (MF) who have relapsed after or are refractory to prior treatment with a Janus Kinase (Jak) inhibitor.
- IMergeTM, a Phase 2/3 clinical trial evaluating imetelstat in transfusion dependent patients with International Prognostic Scoring System (IPSS) Low or Intermediate-1 risk myelodysplastic syndromes (MDS) who have relapsed after or are refractory to prior treatment with an erythropoiesis stimulating agent (ESA). (Original Source)
Shares of Geron closed yesterday at $2.70, down $0.05 or -1.82%. GERN has a 1-year high of $5.30 and a 1-year low of $2.30. The stock’s 50-day moving average is $2.78 and its 200-day moving average is $3.00.
On the ratings front, FBR analyst Thomas Yip reiterated a Buy rating on GERN, with a price target of $6, in a report issued on May 6. The current price target represents a potential upside of 122.2% from where the stock is currently trading. According to TipRanks.com, Yip has a yearly average return of 66.1%, a 46% success rate, and is ranked #23 out of 4055 analysts.
Geron Corp. discovers and develops therapeutic products for cancer. It is a clinical stage biopharmaceutical company developing a telomerase inhibitor, imetelstat, in hematologic myeloid malignancies. The company’s imetelstat, their sole product candidate, is a potent and specific inhibitor of telomerase. Based on clinical data, they may develop imetelstat to treat one or more hematologic myeloid malignancies such as myelofibrosis, or MF, which includes patients with primary MF, post-essential thrombocythemia MF, myelodysplastic syndromes, acute myelogenous leukemia.