The Scarlett Letter
Posted: Mon Nov 30, 2020 8:42 pm
Every year there is a run up in stock price before ASH. Then a sell off. This year looks different. It's like the financial analysts haven't read the abstracts. Its like big Pharma haven't read the abstracts. Geron is presenting amazing data to support a drug that changes the natural history of diseases. Evidence that Imetelstat prolongs life and inhibits the cancer stem cell. Dr. Ma has shown a direct effect of Imetelstat showing the ability of the drug to stop progression of chronic myelocytic leukemia to blast crisis (AACR data) and death of the myelofibrosis stem cell (ASH presentation) while sparing the normal hematopoietic stem cell. Hundreds of blood transfusion have been avoided just with the small studies already done. Definite suppression of malignant mutations have been demonstrated. The stock is down because it carries a "Scarlett Letter"--and its a "J". Because J and J said no, the stock has had a reputation to rebuild. Fortunately for us, J and J made its decision on the basis of very incomplete data. It's an unfair situation in the face of amazing progress in presenting a drug with a completely new MOA and one that strikes at the actual root of a problem. But it can't get no respect because it was jilted by Janssen. The market appears to have a long memory but some partner (and us), will benefit as a result from this under the radar drug. The Geron team under the guidance of Dr. Rizo doesn't get much better. And do not underestimate the power of an association with the Catriona Jamison lab in San Diego. If anyone knows of a drug that can selectively attach the malignant clone in MPDs please post the info. More after ASH. Best Wishes, stay healthy, bp