Geron (GERN) Q2 2026 earnings summary

Executive summary

• Achieved net revenue of $57.5 million in Q2 2026, up 17% year-over-year and 11% sequentially, with H1 net revenue up 24% year-over-year, driven by increased RYTELO sales and higher pricing.

• Net loss for Q2 2026 was $16.7 million, or $0.02 per share, similar to the prior year, reflecting higher costs and continued investment in R&D and commercialization.

• Expanded RYTELO's reach, strengthened clinical evidence, and maintained financial discipline while investing in future growth.

• Broadened leadership with the appointment of Chinmaya Rath as Chief Business Officer.

• Presented new clinical and real-world data at major hematology and oncology conferences.

Financial highlights

• Q2 2026 net revenue was $57.5 million, compared to $49 million in Q2 2025; six-month revenues were $109.3 million, up 23%.

• Gross to net deductions rose to 20.7% in Q2 2026 from 15.3% in Q2 2025; expected to remain in low to mid-20s for the year.

• Research and development expenses were $22 million in Q2 2026, up slightly from $21.7 million in Q2 2025, due to CMC and supply chain investments offset by lower headcount costs.

• Selling, general, and administrative expenses were $38.9 million in Q2 2026, nearly flat year-over-year, mainly due to higher marketing spend offset by lower personnel costs.

• Cash, equivalents, and marketable securities totaled $327 million as of June 30, 2026.

Outlook and guidance

• Anticipates full-year 2026 RYTELO net product revenue at the mid to high end of $220 million-$240 million guidance.

• Expects total operating expenses for 2026 in the range of $230 million-$240 million, including non-cash items.

• Forecasts consistent quarter-over-quarter net revenue growth for the remainder of 2026.

• Management expects gross-to-net adjustments to remain in the low to mid-twenties percentage range for the remainder of 2026.

• Existing cash and anticipated RYTELO revenues are expected to fund operations for the foreseeable future, though additional capital may be needed if revenue targets are not met or unforeseen events occur.