In­vestor suit fu­eled by news ar­ti­cles over failed can­cer drug ends in $24M set­tle­ment

Once rid­ing high with a mar­ket val­ue close to $1 bil­lion, Geron on Tues­day said it set­tled an in­vestor law­suit for $24 mil­lion.

Stock­hold­ers claimed the com­pa­ny wrong­ly tout­ed ear­ly da­ta for a Janssen-part­nered can­cer drug can­di­date and failed to re­veal the ac­tu­al dis­ap­point­ing pri­ma­ry end­point re­sults.

Back in 2018, the com­pa­ny tout­ed the fa­vor­able sur­vival rate of the can­di­date known as ime­tel­stat, say­ing it helps pa­tients live longer with a type of bone mar­row dis­or­der, and the com­pa­ny com­pared the re­sults to oth­er clin­i­cal tri­als, the in­vestors claimed, stat­ing “that mul­ti­ple out­come mea­sures sug­gest­ed clin­i­cal ben­e­fit from the use of ime­tel­stat.”

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER