Updated version 2 - Geron terminates a late-stage clinical trial of a blood cancer medication

Added stock price information in paragraph 1, and supplemented trial termination details and background throughout the text.

Reuters, October 28 - Geron (GERN.O) said on Wednesday it would halt its late-stage clinical trial for the treatment of a rare blood cancer, causing the pharmaceutical company's shares to fall 9% in premarket trading.

The drug, marketed under the name Rytelo, was previously being evaluated as a treatment for myelofibrosis. Myelofibrosis is a rare blood cancer in which scar tissue gradually builds up in the patient's bone marrow.

Geron stated that the decision was based on the recommendation of an independent data monitoring committee, which determined that, compared to the best available therapy, the trial was unlikely to achieve its primary goal of extending overall survival.

Geron said it will conduct a detailed analysis of the data and will release results from the study at a later date.

The trial enrolled a total of 327 high-risk myelofibrosis patients whose disease had recurred or failed to respond after treatment with JAK inhibitors, which are drugs used to control symptoms and reduce spleen enlargement.

"While we conduct a comprehensive analysis of the IMpactMF trial data, we remain committed to increasing demand for Rytelo in the United States and expanding access to eligible patients outside the U.S.," CEO Harout Semerjian said.

Rytelo was approved in the United States in 2024 for the treatment of transfusion-dependent anemia in patients with lower-risk myelodysplastic syndromes (MDS), a group of blood cancers.

The drug is Geron's only commercial product and competes with Bristol Myers Squibb's BMY.N Reblozyl. In the second quarter, Rytelo generated $57.5 million in revenue.

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