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2. Geron Corp. (NASDAQ:GERN)

3-Year Revenue CAGR: 50.60%

Year-over-Year Revenue CAGR: 205.11%

Share Price as of September 5: $4.29

Number of Hedge Fund Holders: 26

Geron Corp. (NASDAQ:GERN) is a biotechnology company that specializes in developing and commercializing therapeutic products for cancer. It is primarily working on a drug called imetelstat, sold under the brand name Rytelo, an anti-cancer medication.

In June, FDA approved Rytelo, as the first and only telomerase, which is an enzyme in cells that helps keep them alive by adding DNA to telomeres (the ends of chromosomes). Soon after that, Rytelo became commercially available in the US. As of July 31, the company had successfully contacted 60% of the top decile 1-4 accounts across both community and academic settings. About 160 patients have already tried the product.

Doctors and patients are excited about Rytelo’s potential to help people with lower-risk MDS, a type of blood cancer. Many hospitals and clinics are adding it to their list of approved treatments for patients who need blood transfusions. Healthcare providers can access Rytelo within 24-48 hours in the contiguous 48 states. There are about 1,320 patients in the US who could benefit from Rytelo.

The company filed for a patent term extension to protect its method of use patent, which could extend it until August 2037. There’s progress in efforts to expand reach and commercialize the treatment, including a submission of a marketing authorization application in the EU. The clinical trial for myelofibrosis is also progressing well.

In Q2 2024, 26 hedge funds held the company. Darwin Global Management is the largest shareholder with a position of $106,184,731. The revenue generated in this period was $882,000, exhibiting a 2,941.38% improvement from same period last year.