Geron Reiterates 2026 RYTELO Sales and Expense Ranges

The Tip Desk · August 6, 2026 · 4 min read

Second-quarter RYTELO net product revenue reached $57.5 million as the company restated its full-year product-sales and operating-expense outlook.

Geron Corporation (GERN), a commercial-stage biopharmaceutical company focused on blood cancers, reported RYTELO (imetelstat) net product revenue of $57.5 million in the second quarter of 2026, up 11% from $51.8 million in the first quarter.

That sequential gain followed a 1% increase in the first quarter versus the fourth quarter of 2025, when RYTELO net product revenue was $48.0 million. RYTELO demand grew 5% in the second quarter compared with the first quarter, after 9% demand growth in the fourth quarter of 2025 versus the third quarter. Ordering accounts rose roughly 8% in the second quarter to approximately 1,575, after an increase of 150 accounts in the fourth quarter of 2025 to approximately 1,300.

President and Chief Executive Officer Harout Semerjian said the team delivered a third consecutive quarter of RYTELO demand growth. He said that in the first half of 2026 the company grew net revenue by 24% while decreasing total operating expenses by 4% compared with the same period last year. Semerjian said the company is executing a focused strategy to build a leading hematology company, starting with bringing RYTELO to more eligible patients with lower-risk myelodysplastic syndromes in the United States.

For the three months ended June 30, 2026, Geron reported a net loss of $16.7 million, or $0.02 a share, compared with $16.4 million, or $0.02 a share, a year earlier. The increase in net loss was directly attributable to non-cash inventory-related expenses, which were partially offset by an increase in RYTELO net product revenue. Total product revenue, net was $57.5 million in the three months ended June 30, 2026, compared with $49.0 million a year earlier.

Total costs and operating expenses were $70.0 million in the three months ended June 30, 2026, versus $61.5 million a year earlier, primarily due to non-cash inventory-related expenses. Cost of goods sold was approximately $9.2 million, versus $1.2 million a year earlier, primarily from those non-cash inventory-related expenses. Research and development expenses were $22.0 million, reflecting investments in manufacturing partly offset by lower headcount after a December 2025 workforce reduction. Selling, general and administrative expenses were $38.9 million, with lower personnel expense from that workforce reduction.

As of June 30, 2026, Geron had approximately $326.9 million in cash, cash equivalents, restricted cash and marketable securities, compared with $341.0 million as of March 31, 2026. Based on current operating plans, existing cash and anticipated net revenues from U.S. sales of RYTELO will be sufficient to fund projected operating requirements for the foreseeable future.

Geron reiterated 2026 RYTELO net product revenue guidance of $220 million to $240 million and total operating expenses of $230 million to $240 million, unchanged from the ranges issued with fourth-quarter 2025 results. Total operating expenses include non-cash items such as stock-based compensation, amortization of debt discounts and issuance costs, inventory write-offs, and depreciation and amortization.

Semerjian said the company sees a meaningful opportunity to continue growing demand for RYTELO in 2026 and beyond, citing an estimated 8,000 second-line LR-MDS patients in the United States. He also said the company has the opportunity to expand access to RYTELO in other geographies, advance the Phase 3 IMpactMF trial in relapsed/refractory myelofibrosis, and pursue strategic innovation for new blood-cancer therapies.

The company presented the first real-world evidence study of RYTELO in LR-MDS at the European Hematology Association 2026 Congress. A retrospective investigator-sponsored study at Moffitt Cancer Center reported safety and clinical efficacy in advanced, heavily transfusion-dependent patients, including those after luspatercept failure, with results generally consistent with the Phase 3 IMerge trial. Geron also presented two abstracts on imetelstat in relapsed/refractory myelofibrosis at the 2026 American Society of Clinical Oncology Annual Meeting, including an updated overall survival analysis from the Phase 2 IMbark trial.

The company appointed Chinmaya Rath as Chief Business Officer. RYTELO is an oligonucleotide telomerase inhibitor approved in the United States for adult patients with LR-MDS with transfusion-dependent anemia who have not responded to, lost response to, or are ineligible for erythropoiesis-stimulating agents, and is also approved in the European Union for certain transfusion-dependent anemia due to myelodysplastic syndromes.