Geron Turns to Profit as RYTELO Demand Growth Reaccelerates

The Tip Desk · November 11, 2026 · 3 min read

The company posted $60.1 million of RYTELO net product revenue in the third quarter and swung to $1.4 million of net income.

Geron Corporation (GERN), a hematology-focused commercial-stage biopharmaceutical company, reported net income of $1.4 million, or $0.00 a share, for the three months ended September 30, 2026, compared with a net loss of $18.4 million, or $0.03 a share, a year earlier.

The company said the swing was primarily attributable to increased revenue and continued financial discipline lowering operating expenses. A quarter earlier, Geron had posted a net loss of $16.7 million.

RYTELO (imetelstat) net product revenue was $60.1 million in the third quarter of 2026, up 5% from $57.5 million in the second quarter after an 11% sequential increase in the prior period. Total product revenue, net, was $60.1 million, compared with $47.2 million for the three months ended September 30, 2025.

Demand growth reaccelerated. Geron said RYTELO demand grew 10% in the third quarter versus the second quarter, after 5% demand growth in the second quarter versus the first. Ordering accounts increased by roughly 8% in the third quarter to approximately 1,700, after a similar increase to about 1,575 in the second quarter. President and Chief Executive Officer Harout Semerjian said increased demand growth was being driven by community practices and that the company had initiated a gated commercial launch to bring RYTELO to targeted European markets.

Total costs and operating expenses were $54.4 million in the three months ended September 30, 2026, down from $70.0 million in the three months ended June 30, 2026. The company said the year-over-year decrease versus $61.1 million was primarily due to lower personnel-related and clinical development expenses, partially offset by non-cash inventory-related expenses. Research and development expenses were $12.7 million, versus $21.1 million a year earlier, which the company attributed to lower personnel-related expenses and lower clinical and chemistry, manufacturing, and controls costs. Selling, general and administrative expenses were $35.7 million, versus $39.0 million a year earlier, primarily from lower personnel-related expenses.

Cost of goods sold was approximately $6.1 million, versus $1.0 million a year earlier, which the company said consisted of costs to manufacture and distribute RYTELO and was primarily due to non-cash inventory-related expenses. Income from operations was $5.8 million, versus an operating loss of $13.9 million a year earlier.

Geron reiterated that it continues to expect 2026 RYTELO net product revenue at the mid-to-high end of the $220 million to $240 million range. It lowered its 2026 total operating expenses range to $220 million to $230 million from $230 million to $240 million. The company said that, based on current operating plans, existing cash, cash equivalents, restricted cash and marketable securities together with anticipated net revenues from U.S. sales of RYTELO will be sufficient to fund projected operating requirements for the foreseeable future.

Cash, cash equivalents, restricted cash and marketable securities were $339.4 million as of September 30, 2026, compared with $326.9 million as of June 30, 2026.

RYTELO is expected to be available in Germany later this year and France in 2027. Geron also announced the discontinuation of the Phase 3 IMpactMF trial evaluating imetelstat in JAK inhibitor relapsed/refractory myelofibrosis, based on a recommendation from the independent Data Monitoring Committee that the trial was unlikely to meet the primary endpoint of overall survival. The company said there were no new safety signals that change the known safety profile of imetelstat.