Geron | 10-Q: FY2025 Q3 Revenue Misses Estimate at USD 47.23 M

Revenue: As of FY2025 Q3, the actual value is USD 47.23 M, missing the estimate of USD 53.34 M.

EPS: As of FY2025 Q3, the actual value is USD -0.03.

EBIT: As of FY2025 Q3, the actual value is USD -9.507 M.

Segment Revenue

• Product Revenue, Net: For the three months ended September 30, 2025, product revenue was $47.2 million, a 67% increase from $28.2 million in the same period in 2024. For the nine months ended September 30, 2025, product revenue was $135.6 million, a 368% increase from $29.0 million in the same period in 2024.

Operational Metrics

• Net Loss: For the three months ended September 30, 2025, the net loss was $18.4 million, compared to $26.4 million in the same period in 2024. For the nine months ended September 30, 2025, the net loss was $54.6 million, compared to $149.2 million in the same period in 2024.
• Total Costs and Operating Expenses: For the three months ended September 30, 2025, total costs and operating expenses were $61.1 million, an 8% increase from $56.5 million in the same period in 2024. For the nine months ended September 30, 2025, total costs and operating expenses were $178.9 million, a 2% decrease from $183.1 million in the same period in 2024.

Cash Flow

• Net Cash Used in Operating Activities: For the nine months ended September 30, 2025, net cash used in operating activities was $89.0 million, compared to $174.7 million in the same period in 2024.
• Net Cash Provided by Investing Activities: For the nine months ended September 30, 2025, net cash provided by investing activities was $86.1 million, compared to net cash used of $2.5 million in the same period in 2024.

Unique Metrics

• Gross-to-Net Adjustments: For the three months ended September 30, 2025, total gross-to-net adjustments were 21.6% of gross product revenue. For the nine months ended September 30, 2025, total gross-to-net adjustments were 17.0% of gross product revenue.

Future Outlook and Strategy

• Core Business Focus: Geron Corporation plans to drive new patient starts across the breadth of the eligible patient population in RYTELO’s approved indication in the U.S. The strategy includes investing additional resources to increase brand awareness, refining marketing and medical efforts, and expanding key opinion leader support and advocacy. The company also plans to commercialize RYTELO in select EU markets in 2026.
• Non-Core Business: The company does not plan to commercialize RYTELO independently in the EU or in any other regions outside the U.S. where RYTELO may be approved for marketing in the future. Instead, it plans to work with experienced third parties for commercialization and marketing in the EU.