Geron (GERN) Corporate presentation summary

Strategic growth and financial outlook

• Projected 2026 net product revenue for RYTELO is $220M–$240M, with total operating expenses guided at $230M–$240M, reflecting disciplined financial management and strong commercial execution targeting second-line U.S. patients.

• Expansion plans include pursuing ex-U.S. markets for LR-MDS and potential entry into relapsed/refractory myelofibrosis pending Phase 3 trial results.

• RYTELO net revenue reached $184M in 2025, with a 9% demand increase in Q4 2025 over Q3 and approximately 1,300 ordering accounts since approval.

RYTELO clinical performance and differentiation

• RYTELO is a first-in-class telomerase inhibitor approved in the U.S. and EU for lower-risk myelodysplastic syndromes (LR-MDS) with transfusion-dependent anemia.

• Phase 3 IMerge trial showed 39.8% of patients achieved ≥8-week transfusion independence versus 15% with placebo, with a median response duration of 52 weeks.

• Safety profile is characterized by predictable, generally manageable cytopenias, with 80% of Grade 3/4 events recovering within 2–4 weeks and no increase in clinical consequences.

• NCCN guidelines recommend imetelstat as a preferred second-line treatment for both RS+ and RS– patients, and as a first-line option for ESA-ineligible patients.

Market opportunity and expansion

• The addressable U.S. second-line LR-MDS market is estimated at ~8,000 patients, with RYTELO positioned to lead based on favorable FDA labeling, updated guidelines, and growing real-world data.

• Expansion into relapsed/refractory myelofibrosis could address ~12,000 U.S. JAK inhibitor-treated patients, 75% of whom fail or discontinue current therapies.

• Ongoing and planned trials aim to broaden RYTELO’s indications across myeloid malignancies, including frontline and combination therapies.