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LOS ANGELES, April 28, 2025 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Geron Corporation ("Geron" or the "Company") (NASDAQ: GERN) investors of a class action representing investors that bought securities between February 28, 2024 and February 25, 2025, inclusive (the "Class Period"). Acadia Healthcare investors have until May 12 2025 to file a lead plaintiff motion.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
The Geron class action lawsuit alleges that, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (i) defendants falsely suggested they possessed reliable information regarding Geron’s projected revenue outlook and anticipated growth, while downplaying risks related to seasonality and broader macroeconomic conditions; (ii) in reality, Geron’s optimistic portrayals of Rytelo’s launch success and growth potential were overstated, as seasonality, existing competition, and the ongoing monitoring requirements had a far greater impact on patient uptake than defendants had indicated; and (iii) Rytelo lacked sufficient market awareness to achieve meaningful penetration, preventing Geron from capitalizing on the purportedly significant unmet need for the drug, particularly among first-line patients and those outside academic medical settings.
The lawsuit further claims that, on February 26, 2025, Geron announced its financial results for the fourth quarter of fiscal year 2024, revealing that Rytelo’s growth had stagnated over the prior months. The company attributed the slowed growth to seasonality, competitive pressures, limited awareness of Rytelo, and the burden associated with the drug’s required monitoring. Following this announcement, Geron’s stock price fell by more than 32%, according to the complaint.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
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