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Why Geron Stock Is Soaring Today

TheMotleyFool

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Shares of Geron Corporation (NASDAQ: GERN) were soaring 15% higher as of 12:04 p.m. ET on Tuesday. The big gain came after the company provided its first-quarter update following the market close on Monday.

Geron reported Q1 revenue of $123,000. It posted a net loss of $30.1 million, or $0.09 per share. This result beat the consensus estimate of a net loss of $0.10 per share.

Investors were perhaps most encouraged by Geron's cash position. The company ended the first quarter with $178.0 million in cash and marketable securities. This amount was boosted by around $70 million in April after Geron conducted a public stock offering.

Source Fool.com

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