Geron first-quarter operating revenues rise; net loss shrinks to $9 million

By Lisa Kerner

Erie, Pa., April 28 - Geron Corp. financial results for the three months ended March 31 showed operating revenues of $583,000 and operating expenses of $11.4 million, compared with $59,000 and $10.4 million, respectively, for the comparable 2005 period.

The company reported a net loss for the 2006 period of $9.0 million, or $0.14 per share, compared with a net loss of $9.7 million, or $0.18 per share, in the comparable 2005 period.

Geron said revenues for the first quarter of 2006 reflect revenue from the license and option payment received from Merck & Co., Inc.

Highlights from the first-quarter 2006 include the launch of the human cell line, T HESC; an agreement with Cambrex Bio Science for the manufacture of Geron's telomerase cancer vaccine; and two agreements with the University of Oxford to produce dendritic cells.

The company also started clinical testing of its lead anticancer compound, GRN163L, in patients with solid tumor malignancies.

Geron is a biopharmaceutical company located in Menlo Park, Calif.

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