Geron reported third‑quarter 2025 revenue of $47.2 million, up 67 % from $28.2 million in the same period a year earlier. Earnings per share were –$0.03, exactly matching the consensus estimate of –$0.03 and confirming the company’s ability to keep costs in line with revenue growth.
The company’s revenue fell short of the consensus range of $52.5 million to $54.5 million, a miss of roughly 13 % to 15 %. Management attributed the shortfall to a 3 % quarter‑over‑quarter decline in demand for RYTELO, the company’s flagship product for lower‑risk myelodysplastic syndromes. The decline reflects a modest slowdown in new patient enrollment and a slight uptick in competition from emerging therapies, which tempered the momentum that had driven the 67 % year‑over‑year jump.
Net loss narrowed to $18.4 million from $26.4 million a year earlier, a 30 % improvement driven by disciplined operating expenses and a modest increase in gross margin. The company’s cost‑control program, which includes a reduction in marketing spend and a focus on high‑margin sales channels, helped offset the revenue shortfall and keep the loss from widening.
Cash and marketable securities stood at $421.5 million as of September 30 2025, down from $502.9 million at the end of 2024. Geron lowered its fiscal‑year 2025 operating‑expense guidance to $250 million–$260 million, a tightening from the prior $270 million–$285 million range. The adjustment signals management’s confidence that cost discipline will sustain profitability even as revenue growth slows.
The company also announced that its Phase 3 IMpactMF trial for relapsed/refractory myelofibrosis is fully enrolled, with an interim analysis expected in the second half of 2026. In addition, Ahmed ElNawawi was named Chief Commercial Officer effective October 20 2025, a move aimed at accelerating RYTELO commercialization. CEO Harout Semerjian said, “Rytelo is a drug that works. With the right execution, we believe it can be positioned for long‑term success.”
Investors reacted cautiously to the earnings, citing the revenue miss as the primary concern. Management emphasized that the company remains focused on cost control, commercial execution, and pipeline development, and that the revised guidance reflects a realistic view of near‑term demand while preserving a strong cash runway for future growth.
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