Geron Corporation (GERN) has 28,117,312 shares of shorts outstanding as on August 15, 2016, with 23 days left to cover or roll them over. On Jul 29, 2016, the open interest of short positions was 28,575,938 shares. The stock has a decent trading volume of 1,234,525 shares daily. The marginal decrease in the short positions is by -1.6%, which amounts to -458,626 shares. Short positions are 17.8% of the available float. The short interest information was released on Wednesday Aug 24th after the market close.
Geron Corporation (NASDAQ:GERN): The stock opened at $2.72 on Wednesday but the bulls could not build on the opening and the stock topped out at $2.80 for the day. The stock traded down to $2.65 during the day, due to lack of any buying support eventually closed down at $2.65 with a loss of -2.93% for the day. The stock had closed at $2.73 on the previous day. The total traded volume was 2,263,461 shares.
In a related news, Bloom Olivia Kyusuk, officer (EVP, Chief Financial Officer) of Geron Corp, unloaded 2,380 shares at an average price of $3.84 on May 29, 2015. The total amount of the transaction was worth $9,139, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
Geron Corporation (Geron) is a clinical stage biopharmaceutical company focused on the development of a telomerase inhibitor, imetelstat, in hematologic myeloid malignancies. The Company operates in one segment, the discovery and development of therapeutic products for oncology. Telomerase is an enzyme that enables cancer cells, including malignant progenitor cells, to maintain telomere length, which provides a capacity for limitless, uncontrolled proliferation. Telomerase consists of two essential components: a ribonucleic acid (RNA) template (hTR), which binds to the telomere, and a catalytic subunit (hTERT) with reverse transcriptase activity, which adds a specific DNA (deoxyribonucleic acid) sequence to the chromosome ends. Using its nucleic acid chemistry, the Company designed imetelstat to be an oligonucleotide that targets and binds with high affinity to the active site of telomerase, thereby directly inhibiting telomerase activity and impeding malignant cell proliferation.