Overview

• U.S. biopharma firm's Q1 product revenue rose 8% sequentially and 31% yr/yr

• Net loss narrowed yr/yr, helped by higher revenue and lower operating expenses

• Company reiterated 2026 RYTELO revenue and operating expense guidance

Outlook

• Geron expects 2026 RYTELO net product revenue of $220 mln to $240 mln

• Company forecasts 2026 total operating expenses between $230 mln and $240 mln

• Geron plans to update European RYTELO commercial strategy by end of 2026

Result Drivers

• RYTELO DEMAND - Geron said Q1 revenue growth was driven by increased demand for RYTELO, with a 6% rise in demand from Q4 2025

• MORE ORDERING ACCOUNTS - Ordering accounts for RYTELO grew by about 12% in Q1 2026 to approximately 1,450

• COST CONTROLS - Lower personnel-related expenses from a 2025 workforce reduction contributed to reduced operating expenses

Company press release: ID:nGNX2wXtz7

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Product Revenue		$51.77 mln
Q1 EPS		-$0.01
Q1 Net Income		-$3.64 mln

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Geron Corp is $3.50, about 112.1% above its May 5 closing price of $1.65

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