Geron unbelievable 1 out of 6 trials postive

MENLO PARK, Calif., December 3, 2012 - Geron Corporation (GERN) today announced that the company has discontinued development of GRN1005, its peptide-drug conjugate designed to treat cancers in the brain. Going forward, the company will focus on the development of imetelstat, its telomerase inhibitor, in hematologic myeloid malignancies and in patients with solid tumors that have short telomeres. The company also announced a restructuring to reduce its workforce from 107 positions to 64 full-time positions, and to reduce its annual cash operating expenses from approximately $65 million in 2012 to approximately $33 million in 2013, which includes non-recurring costs of approximately $3 million associated with the restructuring and approximately $3 million for the discontinuation of clinical trials. The company expects to end 2012 with approximately $90 million in cash and investments................................. ....................................................................................... Only one phase 2 trial out of six has positve results. The one trial of Imetelstat it's drug to treat essential thrombocytosis [ET] and certain types of tumors............... ...................................................................................... Geron was down over 20% afterhours. Will start selling a little each week after Dec 9th when Chip will say a few more words about his plans for Geron...................... This is a disaster..................................................................... ......................................................................................................................................................................................................................................................................Good luck in this rigged casino,