Q2 2026 Geron Corp Earnings Call Transcript
Key Points
- Geron Corp (GERN) reported strong Q2 2026 net revenue of $57.5 million, a 17% year-over-year increase and 11% quarter-over-quarter growth, with first-half revenue up 24% year-over-year.
- The company raised its full-year 2026 RYTELO net revenue guidance to the mid-to-high end of the $220-$240 million range, reflecting solid commercial execution.
- Total operating expenses decreased by 4% in the first half of 2026 compared to the prior year, while net revenue grew 24%, demonstrating improved financial discipline.
- Geron Corp (GERN) expanded its prescribing accounts to approximately 1,575, with an 8% increase in the quarter, and saw 34% of patient starts in the first/second-line setting on a rolling 12-month basis.
- The company presented positive real-world evidence for RYTELO at EHA, which was consistent with Phase 3 IMerge trial results, reinforcing its safety and efficacy profile in lower-risk MDS.
- Geron Corp (GERN) maintains a strong balance sheet with $327 million in cash, providing flexibility to invest in commercial growth and strategic opportunities.
- The company is proactively engaging with regulatory authorities to ensure the interim analysis of the Phase 3 IMPACT MF trial is adequate for potential registration, with timelines unchanged.
- Geron Corp (GERN) is exploring European commercialization strategies, recognizing significant unmet need and potential for thousands of patients, with plans to share details before year-end.
- Gross-to-net deductions increased to 20.7% in Q2 2026 from 15.3% in Q2 2025, which could pressure future net revenue growth.
- The company faces uncertainty regarding the impact of the Inflation Reduction Act's Most Favored Nation (MFN) pricing model on European commercialization, potentially limiting pricing flexibility.
- Geron Corp (GERN) is evaluating a modification to the event threshold for the interim analysis of the IMPACT MF trial, which could introduce regulatory and timeline risks.
- The company's reliance on a limited number of high-volume community accounts for growth may create concentration risk, though depth is becoming a focus.
- Operating expenses remain elevated, with SG&A costs flat year-over-year and R&D expenses increasing due to CMC investments, despite overall cost discipline.
- The company lacks a reliable metric to track duration of therapy, making it difficult to assess patient persistence and long-term adoption trends.
- European commercialization plans are still in exploration, with no concrete timeline for launch, and the company must navigate evolving pricing rules and payer dynamics.
- The IMPACT MF trial's base case timeline extends to the second half of 2028 for final analysis, indicating a long wait for potential upside from the myelofibrosis program.
Hello, and welcome to the Geron Corporation second quarter 2026 earnings call. (Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to turn the call over to Dawn Schottlandt, SVP, Investor Relations and Corporate Affairs.
Good morning, everyone. Welcome to the Geron Corporation second quarter 2026 earnings conference call. Before we begin, please note that during the course of this presentation and question-and-answer session, we will be making forward-looking statements regarding future events, performance, plans, expectations, and other projections, including those related to our 2026 financial guidance, our current RYTELO commercialization strategy, and related opportunities in the US and the EU, the therapy potential of RYTELO, other anticipated clinical and commercial events and related timelines, the sufficiency of our financial resources, and other statements that are not historical fact, which,
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