GERON CORP GERN
We are a commercial-stage biopharmaceutical company aiming to change lives by changing the course of
blood cancer. Our first-in-class telomerase inhibitor, RYTELO® (imetelstat), harnesses Nobel Prize winning science in a
treatment that scientific evidence suggests reduces proliferation of malignant cells, allowing production of new healthy
cells, which we believe drives differentiated clinical benefits, potentially altering the underlying course and modifying the
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | $237.0K | $596.0K | $1.4M | $253.0K | $460.0K | $1.1M | $1.1M | $6.2M |
| SG&A | $159.3M | $145.7M | $69.1M | $43.6M | $29.7M | $25.7M | $20.9M | $18.7M | $19.3M | $18.8M |
| Total operating expenses | $252.5M | $250.7M | $194.2M | $139.1M | $115.4M | $77.2M | $73.0M | $32.1M | $30.3M | $36.8M |
| Operating income | -$68.6M | -$173.7M | -$193.9M | -$138.6M | -$114.0M | -$76.9M | -$72.5M | -$31.1M | -$29.3M | -$30.6M |
| Interest expense | $32.7M | $18.5M | $8.3M | $6.9M | $3.7M | $760.0K | — | — | — | — |
| Pre-tax income | -$83.4M | -$174.5M | -$181.7M | -$141.9M | — | — | — | — | — | — |
| Income tax | $75.0K | $449.0K | $22.0K | — | — | — | — | — | — | — |
| Net income | -$83.5M | -$174.6M | -$184.1M | -$141.9M | -$116.1M | -$75.6M | -$68.5M | -$27.0M | -$27.9M | -$29.5M |
| EPS, basic | -0.13 | -0.27 | -0.32 | -0.37 | -0.35 | -0.28 | — | — | -0.18 | -0.19 |
| EPS, diluted | -0.13 | -0.27 | -0.32 | -0.37 | -0.35 | -0.28 | -0.36 | -0.15 | -0.18 | -0.19 |
| Shares, diluted (wtd. avg.) | $666.7M | $646.0M | $570.6M | $380.8M | $327.6M | $271.5M | — | — | $159.2M | $159.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $77.6M | $79.0M | $70.0M | $56.8M | $34.9M | $9.9M | $13.6M | $10.6M | $16.3M | $12.8M |
| Short-term investments | — | $327.6M | $263.7M | $115.9M | $148.9M | $186.3M | $125.7M | $152.7M | $78.4M | — |
| Receivables | $37.0M | $35.9M | — | — | — | — | — | — | — | — |
| Inventory | $116.6M | $38.7M | — | — | — | — | — | — | — | — |
| Total current assets | $520.3M | $491.0M | $341.3M | $180.2M | $187.2M | $199.9M | $141.6M | $166.1M | $96.0M | $116.1M |
| Property, plant and equipment | $884.0K | $1.3M | $1.2M | $793.0K | $650.0K | $658.0K | $408.0K | $59.0K | $102.0K | $183.0K |
| Total assets | $570.5M | $593.8M | $394.1M | $190.6M | $226.0M | $270.7M | $165.5M | $185.3M | $110.3M | $130.2M |
| Accounts payable | $11.3M | $8.6M | $6.2M | $10.2M | $6.7M | $6.9M | $1.2M | $982.0K | $503.0K | $225.0K |
| Short-term debt | — | — | $46.9M | $20.9M | — | — | — | — | — | — |
| Total current liabilities | $111.5M | $88.3M | $108.1M | $76.7M | $45.5M | $30.9M | $28.2M | $7.6M | $6.5M | $7.9M |
| Long-term debt | $119.5M | $118.5M | $35.1M | $30.2M | $49.8M | $24.0M | — | — | — | — |
| Total liabilities | $344.7M | $313.5M | $146.1M | $110.6M | $99.6M | $59.8M | $30.4M | — | — | — |
| Retained earnings | -$1.86B | -$1.77B | -$1.60B | -$1.41B | -$1.27B | -$1.16B | -$1.08B | -$1.01B | -$985.8M | -$957.9M |
| Total equity | $225.9M | $280.3M | $247.9M | $80.0M | $126.4M | $210.9M | $135.2M | $177.7M | $103.8M | $122.4M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$111.0M | -$218.6M | -$167.7M | -$127.4M | -$95.6M | -$66.7M | -$43.8M | -$21.0M | -$20.6M | -$18.4M |
| Depreciation and amortisation | — | — | — | — | — | $158.0K | $64.0K | $59.0K | $76.0K | $81.0K |
| Stock-based compensation | $26.7M | $31.2M | $18.5M | $8.0M | $8.1M | $6.9M | $6.1M | $6.4M | $8.1M | $8.2M |
| Capital expenditure | — | $680.0K | $830.0K | $431.0K | $207.0K | $401.0K | $413.0K | $16.0K | — | $57.0K |
| Investing cash flow | $107.2M | -$106.0M | -$180.3M | $62.1M | $71.9M | -$105.3M | $27.4M | -$77.7M | $23.0M | $8.8M |
| Financing cash flow | $2.3M | $334.4M | $362.0M | $87.3M | $48.6M | $168.3M | $19.5M | $93.0M | $1.1M | $1.2M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000886744-26-000024.
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