More Bad News for Geron

They're the gang that can't shoot straight. GERN) : Co announces that the company has received verbal notice from FDA that its Investigational New Drug application for imetelstat has been placed on full clinical hold, affecting all ongoing company- sponsored clinical trials. •A full clinical hold is an order that the FDA issues to a trial sponsor to suspend an ongoing clinical trial or delay a proposed trial. The clinical hold affects the remaining eight patients in the company's Phase 2 study in essential thrombocythemia or polycythemia vera and the remaining two patients in the company's Phase 2 study in multiple myeloma. •In addition, the company's planned Phase 2 clinical trial in myelofibrosis will likely be delayed due to the clinical hold. It is possible that other studies using imetelstat, such as ongoing investigator-sponsored trials, may also be placed on clinical hold by the FDA. I'm so glad I sold 90% of the stock in Geron, I wish I sold it at $7 which it hit for very short time a few months and not at below $3 but that's the way it goes. What's upsetting to me is Geron said imetelstat had very few side effects. This is there only drug left. Six trials and only one worked out, this one, the imetelstat. I'm guessing Geron will get the new trials going in a few months [guessing 6 months which would made it in Sept] I made a bet [and that what it is] that when the trials are OK'd by the FDA, and the stock will go up. I got 25 $5 calls for Jan 2016 for 45 cents today. Lets see if the bet pays off. Stock closed at $1.69 on 46 million shares, down over $2.70. Good luck in this rigged casino.