Wedbush raises Geron price target to $6 following Phase 3 IMerge study data

Wedbush analyst Robert Driscoll raised the firm’s price target on Geron to $6 from $5 and keeps an Outperform rating on the shares after the company reported positive topline data from the registration-directed Phase 3 IMerge study of imetelstat in transfusion-dependent, ESA r/r low-risk-MDS patients. Importantly, imetelstat’s safety profile was consistent with the Phase 2 and previous clinical study data, the analyst adds. With Fast Track Designation, Geron expects to file an NDA in mid-2023, and will prepare for commercial launch in the U.S. in the first half of 2024 and in the EU by year-end 2024. Driscoll sees a significant opportunity for imetelstat in r/r LR-MDS.