Stock

Geron Corporation

GERN

Biotechnology · Healthcare

Also trades as: 0IV3.L GBP 0.01 (-5.17%)

Price

$1.12

-0.01 (-0.88%)

Market Cap

$719.6M

Exchange

NASDAQ

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Data as of Oct 23, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality

Mixed

10/30

Growth

Strong

14/20

Cash Flow

Weak

0/10

Stability

Mixed

4/10

Valuation

Data not available

0/10

Ownership

Good

10/15

Dividends

Not counted

n/a

38 of 95 counted points = Winston Score 40. Pillars marked n/a do not apply to this company and are left out of the total.

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Share count rising — dilution

+103.5% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 327.6M (2021) → 666.7M (2025)

§Winston Score History

The full picture

Geron Corporation is a biotechnology company focused on treating blood cancers. Its main product is imetelstat, a drug that targets an enzyme called telomerase, which helps cancer cells survive longer than normal cells. Imetelstat is approved in the United States under the brand name Rytelo for adults with certain types of myelodysplastic syndromes (MDS), a group of bone marrow disorders that can progress to leukemia.

Geron makes money by selling Rytelo to hospitals and specialty pharmacies, with the drug launched in the US in mid-2024. The company operates primarily in the United States and is relatively small, with a market cap around $800 million. Its high gross margin reflects the typical pricing power of specialty oncology drugs, but Geron is still spending more than it earns, resulting in an operating loss. The key growth driver is expanding Rytelo's use into additional blood cancer indications, while the main risk is its dependence on a single drug for all revenue.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+17.2% YoY

YoY Growth Rate

Steady revenue growth

Reported EPS Growth

+18.7% YoY

Quarterly reporting periods ended:

30 Jun 2025: $-0.0246

30 Jun 2026: $-0.02

Reported/statutory EPS, not adjusted or underlying earnings. One-off items can affect this figure. Provider rounding can affect the growth rate.

YoY Growth Rate

Reported EPS increased year over year

R&D Spend

$74M/ year

↓ Declining (-29% vs prior year)

40.1% of revenue

2.2x the sector average (18%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

12.7%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~5 years

$325M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

$325M cash & investments at current burn rate

Growth context

Geron Corporation is growing revenue at 17% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

83.9%

Premium pricing power — 83.9% gross margin

Profit after running costs

Operating Margin

-21.7%

Losing money on operations — -21.7%

Return on the money invested

ROCE

-11.0%

Weak — -11.0% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

+24.4%

Fast-growing sales (+24.4% YoY)

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

7/8 quarters

Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

-56.2%

Burning cash (-56.2%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

0.56

Conservative — low debt load (0.56)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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