Geron Plummets as FDA Halts Development of Blood Medicine
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Geron Corp., a biotechnology company with no marketed products, plunged the most ever after U.S. regulators halted development of its only experimental drug, imetelstat for blood disorders, because of the possibility of liver damage.
Geron sank 62 percent to $1.69 at the close in New York in its biggest decline since the company first sold shares to the public in 1996. Before today, the shares of the Menlo Park, California-based company had tripled in the last 12 months.