NEW YORK (Thomson Financial) - Shares of Geron Corp. were halted Wednesday
after the company said it received verbal notice from the Food and Drug
Administration that its investigational new drug submission for GRNOPC1 was
placed on clinical hold.
GRNOPC1 is a cell therapy for spinal cord injury.
Geron said it was "disappointed" with the measure, but that it couldn't
comment specifically on the issue because it hadn't yet received a letter from
the FDA explaining the decision. "Once we have the letter and have had a
discussion with the agency, we will communicate our findings and our thinking to
shareholders," the company said in a statement.
Shares of Geron last traded at $4.71, down 3.9% from its Tuesday close of
$4.90. The stock is down 40% over the past 52 weeks.
Ryan Vlastelica
rv/rv/jw
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