Full Press Release Details
Corporation Announces Proposed Public Offering of Common Stock
MENLO PARK, Calif.--(BUSINESS WIRE)--December 6, 2010--Geron Corporation
(Nasdaq: GERN) today announced that it is offering to sell shares of its
common stock in an underwritten public offering. Geron also expects to
grant the underwriters a 30-day option to purchase up to an additional
15% of the shares of common stock offered in the public offering to
cover over-allotments, if any. All of the shares in the offering are to
be sold by Geron. The offering is subject to market conditions, and
there can be no assurance as to whether or when the offering may be
completed, or as to the actual size or terms of the offering.
J.P. Morgan Securities LLC and Lazard Capital Markets LLC are acting as
joint book-running managers of the offering.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any of these securities, nor will there
be any sale of these securities in any state or other jurisdiction in
which such offer, solicitation or sale is not permitted. A shelf
registration statement on Form S-3 relating to the public offering of
the shares of common stock described above was filed with the Securities
and Exchange Commission (SEC) and is effective. A preliminary prospectus
supplement relating to and describing the terms of the offering will be
filed with the SEC and will be available on the SEC's web site at www.sec.gov.
When available, copies of the preliminary prospectus supplement relating
to these securities may also be obtained from the offices of J.P. Morgan
Securities LLC, Attn: Broadridge Financial Solutions, 1155 Long Island
Avenue, Edgewood, New York, 11717, or by phone at (866) 803-9204, and
Lazard Capital Markets LLC at 30 Rockefeller Plaza, 60th Floor, New
York, NY, 10020 or via telephone at (800) 542-0970.
Geron is developing first-in-class biopharmaceuticals for the treatment
of cancer and chronic degenerative diseases. The company is advancing
anti-cancer therapies through multiple Phase 2 clinical trials in
different cancers by targeting the enzyme telomerase and with compounds
designed to penetrate the blood-brain barrier (BBB). The company is
developing cell therapy products from differentiated human embryonic
stem cells for multiple indications, including central nervous system
(CNS) disorders, heart failure, diabetes and osteoarthritis, and has
initiated a Phase 1 clinical trial in spinal cord injury. For more
information, visit www.geron.com.
Investors are cautioned that statements in this press release regarding
the completion, timing and size of the proposed public offering
constitute forward-looking statements that involve risks and
uncertainties, including, without limitation, risks and uncertainties
related to market conditions and the satisfaction of customary closing
conditions related to the proposed public offering. There can be no
assurance that Geron will be able to complete the proposed public
offering at the anticipated size or on the anticipated terms, or at all.
Geron will continue to need significant additional capital to fund its
operations and may be unable to raise capital when needed, which would
force Geron to delay, reduce or eliminate its product candidate
development programs or commercialization efforts. Actual results
may differ materially from the results anticipated in these
forward-looking statements. Additional information on potential factors
that could affect our results and other risks and uncertainties are
detailed from time to time in Geron's periodic reports, including its
Annual Report on Form 10-K for the year ended December 31, 2009, its
quarterly report on Form 10-Q for the quarter ended September 30, 2010
and in the preliminary prospectus supplement related to the proposed
offering to be filed with the Securities and Exchange Commission on
December 6, 2010, each available on the SEC's web site at www.sec.gov.
Anna Krassowska, Ph.D., 650-473-7765