Thursday, Geron Corp. (GERN) announced its plans to reduce approximately one-third of its current workforce as part of its restructuring plan, which intends to position the company for long-term value creation for patients and shareholders and improve its financial discipline.
The restructuring plan aims to drive RYTELO commercial growth in the U.S., explore opportunities for making RYTELO available outside the U.S., and continue to advance its Phase 3 IMpactMF trial.
The company expects the plan to have a meaningful impact on its 2026 operating expenses and position Geron to meet the needs of patients.
The plan is anticipated to be substantially complete in the first quarter of 2026, with initial projected full year 2026 operating expenses to be less than the company's projected full year 2025 operating expenses.
Notably, Geron will incur restructuring charges consisting primarily of cash-based expenses in connection with the restructuring plan.
Currently, GERN is trading at $1.32, up 3.12 percent on the Nasdaq.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.