traded volume rose up to over 5 million shares just for a day. It is highly unusual volume for GERN as compared to its average value of approximately 900 thousand shares traded.Apparently, GERN has started moving up as soon as it announced its latest news. For the second quarter of this year the company reported a revenue of $1 million, which is approximately 6 times higher than the previous period.[BANNER]
The quarter revenue appeared to be about three times higher and it totaled $1.9 million.
These values seem to be much tempting for the investors, however not all of them look so positive. According to the report, GERN has registered a $33.7 million net loss for the six months ended this June, which is lower than the previous period, but is still significant.
GERN owns 28% of ViaGen, Inc, a licensee with in-house breeding services and expertise in advanced reproductive technologies for animal cloning.
The company presently relies on its allowance to continue with the clinical trial of Grnopc1, given by the U.S. Food and Drug management, and it is highly optimistic about the future results. Though, it states that: “the successful development of our potential products is highly uncertain”.
GERN expects that its existing capital will be sufficient to fund its current operations by at least December 2011. However, the company claims that its future capital requirements will be substantial and it may need additional financing.
Geron Corporation is a biopharmaceutical company developing biopharmaceuticals for the treatment of cancer and chronic degenerative diseases. Historical data shows that last year the company traded at over $8.00 per share, but after that the stock has moved down. Over the year the price has had frequent changes, while currently its trading range ranks between $5.25 – $5.67.
Based on the recent price change, it looks like the stock has made a significant progress last week, but still it is too soon to be considered as a new uptrend.
