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Published April 16, 2025
When Geron’s revenue flatlined, investors pulled the plug on their shares, sending the Company’s stock price plummeting 32% overnight. Now those investors are fighting back with a class-action lawsuit against Geron.
Geron is a pharmaceutical company which developed the drug Rytelo. In 2024, Geron announced it would be launching Rytelo and was confident it would be a hit. Soon after, Geron released sales data showing Rytelo was booming. Executives said Rytelo showed promising future growth and continued demand.
But the lawsuit says that was all a lie. Geron concealed that Rytelo was inconvenient to take and its marketing was dull.
Investors learned the truth in February 2025. Geron executives revealed Rytelo sales stalled out and Geron’s revenue flatlined. Furious investors quickly sold off Geron shares and the stock price crashed. Some of those investors are now joining the lawsuit.