Geron Corporation (NASDAQ:GERN) shares fell roughly 15% in premarket trading Wednesday after the oncology-focused biotech company reported fourth-quarter 2025 results that came in below Wall Street expectations while reaffirming its full-year guidance.
The developer of blood cancer treatment Rytelo posted a net loss of $0.05 per share on revenue of $48.0 million for the quarter, missing analyst forecasts by more than $2.4 million as revenue remained largely unchanged sequentially.
For the full year, total costs and operating expenses increased about 2% year over year to $254.7 million. Fourth-quarter net loss widened approximately 23% compared with the prior year period to $31.1 million, reflecting a $17.0 million restructuring charge tied to a cost-reduction program launched in December.
Despite the quarterly miss, full-year revenue more than doubled to $183.9 million, supported by the June 2024 U.S. Food and Drug Administration approval of Rytelo for treating myelodysplastic syndromes, a rare form of blood cancer.
Net product revenue from Rytelo reached $48 million during the quarter, representing roughly 9% growth from the third quarter and bringing full-year net product revenue to $183.6 million.
Looking ahead, Geron maintained its outlook, forecasting full-year net product revenue for Rytelo in the range of $220 million to $240 million, alongside projected operating expenses of $230 million to $240 million.