Geron Corp. leadership overhyped its flagship blood cancer treatment’s commercial prospects before revealing its lack of traction flattened revenue trends, a shareholder lawsuit said.
Share prices fell more than 32% on Feb. 26 after the company revealed the stagnation at the start of the first quarter alongside its fourth fiscal quarter and full-year results, a stockholder told the US District Court for the Northern District of California on Tuesday. It was the stock’s biggest single-day drop since September 2018, according to data compiled by Bloomberg.
Top brass in a Feb. 26 investor call attached curtailed growth from the treatment, Rytelo, ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.