Dated August 3, 2016

Press Release Dated August 3, 2016

Geron Corporation Reports

Second Quarter 2016 Financial Results and Recent Events

Conference Call Scheduled

for 4:30 p.m. EDT Today, August 3

MENLO PARK, Calif., August

3, 2016 -- Geron Corporation (Nasdaq: GERN)

today reported financial results for the three and six months ended

June 30, 2016 and recent events.

For the second quarter of

2016, the company reported a net loss of $8.6 million, or $0.05 per share,

compared to $9.4 million, or $0.06 per share, for the

comparable 2015 period. Net loss for the first six months of 2016 was

$17.5 million, or $0.11 per share, compared to $18.7 million, or $0.12 per

share, for the comparable 2015 period. The company ended the

second quarter of 2016 with $136.4 million in cash and investments and

has not incurred any impairment charges on its

marketable securities portfolio.

Revenues for the three and six

months ended June 30, 2016 were $211,000 and $960,000, respectively, compared to $251,000 and $788,000 for the comparable 2015 periods.

Revenues for the three and six month periods ending June 30, 2016

and 2015 included royalty and license fee revenues under various non-imetelstat license agreements.

Total operating expenses for

the three and six months ended June 30, 2016 were $9.1 million and $18.9

million, respectively, compared to $9.7 million and $19.7 million for the

comparable 2015 periods. Research and development expenses for

the three and six months ended June 30, 2016 were $4.6 million and $9.6

million, respectively, compared to $4.8 million and $9.8 million for the

comparable 2015 periods. General and administrative expenses for

the three and six months ended June 30, 2016 were $4.5 million and $9.3

million, respectively, compared to $4.0 million and $8.6

million for the comparable 2015 periods. Operating expenses for the

three and six months ended June 30, 2015 also included restructuring charges of

$941,000 and $1.3 million, respectively, in connection with the

company s organizational resizing announced in March 2015.

The decrease in research and

development expenses for the three and six month periods ending June

30, 2016, compared to the same periods in 2015,

primarily reflects the net result of reduced personnel-related costs resulting from the March 2015 organizational

resizing and lower costs for the manufacturing of imetelstat drug product, partially offset by higher costs for the

company s proportionate share of clinical development expenses under the

imetelstat collaboration with Janssen Biotech, Inc. (Janssen). The

company expects research and development expenses to

increase during the remainder of the year as the clinical development of imetelstat continues in collaboration with Janssen. The

increase in general and administrative expenses for the three and six

month periods ending June 30, 2016, compared to the same periods in

2015, primarily reflects higher non-cash

stock-based compensation expense and increased

allocation of facilities and other overhead costs to

general and administrative activities.

Interest and other income for

the three and six months ended June 30, 2016 was $293,000 and

$549,000, respectively, compared to $145,000 and $294,000

for the comparable 2015 periods. The increase in interest and

other income for the three and six month periods ending June 30, 2016, compared

to the same periods in 2015, primarily reflects higher yields on the

company s marketable securities portfolio.

In July 2016, three U.S.

patents related to imetelstat were issued by the U.S. Patent and Trademark

Office. U.S. 9,375,485 has claims covering the use of

telomerase inhibitor compounds, including imetelstat, for

alleviating at least one symptom of myelofibrosis or

myelodysplastic syndromes, including chronic myelomonocytic leukemia, and is expected to remain in force until at least March 2033.

U.S. 9,388,415 and U.S. 9,388,416 have claims covering methods for

using imetelstat to inhibit the activity of telomerase and using imetelstat

to inhibit cancer cell proliferation, as well as methods for using

imetelstat to treat cancer, and are expected to remain

in force until at least September 2024. These patents are related to Geron s

existing imetelstat composition of matter patent U.S. 7,494,982, which

issued in 2009 and is expected to remain in force until at least

December 2025. Further extension of patent terms may be available for regulatory

Geron s portfolio of patents

related to imetelstat and related products whose mechanism of action

is telomerase inhibition have been licensed to Janssen under an exclusive

worldwide license and collaboration agreement for all human

disorders or medical conditions.

At 4:30 p.m. EDT on August 3,

2016, Geron s management will host a conference call to discuss the

company s second quarter and year to date results as well as

recent company events.

Participants can access the

conference call live via telephone by dialing 877-303-9139 (U.S.); 760-536-5195 (international). The passcode

is 50542873. A live audio-only webcast is also available at

http://edge.media-server.com/m/p/dmhjza72/lan/en. The audio webcast

of the conference call will be available for replay approximately one hour following the live broadcast through September 2,

Geron is a biopharmaceutical

company supporting the clinical stage development of a first-in-class telomerase inhibitor, imetelstat, in hematologic myeloid

malignancies. For more information about Geron, visit www.geron.com.

Except for the historical

information contained herein, this press release contains forward-looking statements made pursuant to the safe harbor provisions of

the Private Securities Litigation Reform Act of 1995. Investors are cautioned that statements in this press release regarding:

(i) expectations regarding the scope and duration of patent

protection, as well as availability of extensions of patent term, for any of (a)

U.S. 9,375,485 remaining in force until at least March

2033; (b) U.S. 7,494,982 remaining in force until at least December 2025, and (c) U.S. 9,388,415 and U.S. 9,388,416 remaining in

force until at least September 2024; (ii) that the Company expects

research and development expenses to increase in the second half of 2016

as the clinical development of imetelstat continues in collaboration with

Janssen; and (iii) other statements that are not historical facts,

constitute forward-looking statements. These statements involve risks