Geron cancer drug effective in trial, shares soar

[riky]

Geron cancer drug effective in trial, shares soar

Geron Corp said 22 percent of trial patients treated with its experimental blood cancer drug were now free of the disease, a major break for the company after two big setbacks. Shares of Geron more than doubled in morning trade on Thursday to a four-year high. "This is going to save the company, because it's the last thing that they had," MLV & Co analyst George Zavoico told Reuters. "This truly opens the door for other opportunities in other indications." Geron earlier failed to develop the blood cancer drug, imetelstat, to treat breast cancer.

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