=Geron (GERN) : discontinuation of Imetelstat collaboration by Janssen (JNJ)

Geron announces discontinuation of Imetelstat collaboration by Janssen (JNJ)

• Janssen Biotech, Inc. (Janssen) announced today its decision not to continue the collaboration and license agreement with Geron Corporation for imetelstat. The decision not to continue the collaboration is the result of a strategic portfolio evaluation and prioritization of assets within the robust Janssen portfolio. Janssen will work with Geron to transition the imetelstat program back to the company. Patients currently enrolled in the ongoing imetelstat clinical trials will continue to be supported through the respective trial protocols, including treatment and follow-up.
• Patients currently enrolled in the ongoing imetelstat clinical trials in myelofibrosis (IMbark) and myelodysplastic syndromes (IMerge) will continue to be supported through the respective trial protocols, including treatment and follow-up.

As a result of the termination of the CLA and Geron's decision to continue the development of imetelstat independently, the Company has revised its financial projections and now anticipates 2018 operating expenses to be approximately $37 million (previously $30 million). The Company expects its operating expenses to increase as it hires additional personnel and external service providers to support the development of imetelstat. As of August 31, 2018, the Company had approximately $183 million in cash and marketable securities which is expected to be sufficient to support its plans to initiate the Phase 3 portion of IMerge in 2019.