Geron Faces Investor Suit After FDA Halts Clinical Trial

Law360, New York (March 19, 2014, 7:03 PM EDT) -- Geron Corp. was hit with a shareholder class action Friday in California federal court accusing the drugmaker of improperly touting the prospects of its sole drug candidate before the U.S. Food and Drug Administration put a hold on the drug's clinical trial over concerns of liver toxicity.

Shares in Geron tanked more than 61 percent March 12 on news the company had received verbal communication from the FDA saying the agency was putting the trial of imetelstat, a drug that treats cancer, on hold.

The class action claims...
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