Geron Corporation (NASDAQ:GERN) said Thursday it will carry out a major restructuring effort that includes reducing its workforce by around one-third — a move that will impact roughly 260 employees at the biopharmaceutical firm.
The overhaul is expected to be largely completed during the first quarter of 2026. Geron anticipates that its operating expenses for full-year 2026 will come in below those projected for 2025, with cost savings beginning to materialize early in the year.
“After my first four months at Geron, the leadership team and I have assessed the business with the goal of streamlining our organizational structure to advance our strategy and create long-term value,” said Harout Semerjian, President and Chief Executive Officer of Geron.
According to the company, its main priorities continue to center on expanding the U.S. commercial rollout of RYTELO, assessing avenues to make the therapy available internationally, and pushing forward with its Phase 3 IMpactMF study.
Geron said it will recognize restructuring charges largely made up of cash-related costs tied to the plan. Details will be outlined in a forthcoming Form 8-K filing with the Securities and Exchange Commission.
RYTELO (imetelstat) is currently approved in both the U.S. and the European Union for certain adults with lower-risk myelodysplastic syndromes who require frequent transfusions. The company is also evaluating the drug in a Phase 3 trial for patients with myelofibrosis.
The announcement is based on a statement released by the company.