Geron (GERN) Corporate presentation summary

Strategic priorities and 2026 outlook

• Priorities: maximize RYTELO value, pursue opportunistic innovation, and maintain operational execution and financial discipline.

• 2026 guidance: RYTELO net product revenue of $220M-$240M and total operating expenses of $230M-$240M.

• EU LR-MDS commercial strategy planned for communication by year-end 2026; balance sheet may support innovation.

RYTELO clinical profile

• Imetelstat is a first-in-class telomerase inhibitor designed to block telomerase activity in malignant cells and trigger apoptosis.

• In Phase 3 IMerge, 39.8% achieved at least 8-week transfusion independence (TI) versus 15% with placebo (P<0.001); median response duration was 51.6 weeks versus 13.3 weeks.

• The presentation describes cytopenias as predictable and generally manageable; 80% of Grade 3/4 cytopenias recovered to Grade 2 or lower within 2-4 weeks, with no increase in clinical consequences.

• Post hoc ASH 2025 analyses associated early platelet or neutrophil reductions with higher RBC-TI and hemoglobin response rates; findings were presented as potentially consistent with on-target activity.

• At 45 months of IMerge follow-up, a post hoc analysis reported no increased risk of death (HR 0.82) and AML progression similar to placebo; the study was not powered to detect significant overall survival differences.

Market and commercial progress

• U.S. estimates cited ~16,000 LR-MDS diagnoses annually, ~8,000 annual second-line starts, 90% symptomatic anemia, and 51% transfusion dependence within six months of diagnosis.

• Q2 2026 RYTELO net revenue was $57.5M, up 17% YoY and 11% QoQ; demand increased 5% QoQ, and ~34% of new patient starts were in first or second line.

• ~1,575 ordering accounts since approval, up ~8% in Q2 2026 versus Q1; annual net revenue was $77M in 2024 and $184M in 2025.

• The stated second-line U.S. addressable market is ~8,000 patients; positioning cites the FDA label, updated NCCN guidelines, and growing real-world data and experience.

• Commercial, medical affairs, and advocacy efforts include high-volume account targeting, digital and third-party education, real-world evidence studies, and community HCP education.