8 Hot Penny Stocks To Invest In According to Hedge Funds

4. Geron Corporation (NASDAQ:GERN)

Share Price: $4.31

Year to Date Performance: 104.27%

Number of Hedge Fund Holders: 26

Geron (NASDAQ:GERN) is a late-stage clinical biopharmaceutical company that develops and commercializes therapeutic products for myeloid hematologic malignancies. It is developing imetelstat, an investigational first-in-class telomerase inhibitor.

It is in Phase 3 clinical trials, and inhibits the uncontrolled proliferation of malignant stem and progenitor cells in myeloid hematologic malignancies. This treats low or intermediate-1 risk myelodysplastic syndromes and intermediate-2 or high-risk myelofibrosis. The company’s lead indication for imetelstat is in Low or Intermediate-1 risk myelodysplastic syndromes.

The company recently attained FDA approval for RYTELO, which is its branded name for imetelstat. RYTELO is the first and only telomerase commercially available in the US. The efficient mobilization of its team and strong commercial infrastructure at launch have brought about encouraging early launch results for the product.

This positive response in the hematology community highlights the unmet needs for lower-risk MDS patients with symptomatic transfusion-dependent anemia. Since a number of its customers are pushing to gain access to RYTELO, the company is seeing strong market inclinations to add the product to treatment pathways, formularies, and EMRs, along with community settings.

In addition, RYTELO gained the position of a Category 1 and 2A treatment for lower-risk MDS patients after the MDS NCCN Guidelines were updated on July 25. That gives RYTELO approval for use in both RS negative and RS positive first-line ESA ineligible patients and in both RS positive and RS negative second-line patients. This stands regardless of prior first-line treatment. The NCCN Guidelines have proved favorable for the product, putting RYTELO in a strong competitive position.

Geron’s (NASDAQ:GERN) distribution network and specialty distributor networks are fully activated to support customer demand across community oncology clinics and hospitals. RYTELO is available to HCPs across the 48 contiguous states within 24 to 48 hours through the company’s specialty distribution networks. The company ranks fourth on our list of the top hot penny stocks to invest in according to hedge funds.