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FDA Approves Geron's Rytelo for Lower-Risk MDS; Shares Surge 22.4%

Jun 7, 2024, 10:30 AM

The U.S. Food and Drug Administration (FDA) has approved Geron's drug Rytelo (imetelstat), an oligonucleotide telomerase inhibitor, for the treatment of patients with lower-risk myelodysplastic syndromes (MDS) who have transfusion-dependent anemia. This marks the first FDA approval for Geron, a biotech company based in Foster City, CA, founded in 1990 by Mike West and Alex Barkas. Following the announcement, Geron's shares surged by 22.4% in pre-market trading and rose almost 16% on Friday.