Geron Corp

Health Care
Biotechnology: Pharmaceutical Preparations
www.geron.com

Moat Score
Safety Score

Market Cap $2.51B
PE -13
Debt $164.07M
Cash $60.34M
EV $2.62B
FCF -$216.50M

Earnings

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Sales & Net Margins

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Earnings	-$201.19M
EBIT	-$207.97M
ROE	-69%
ROA	-47%
FCF	-$216.50M
Equity	$292.28M
Growth Stability	1
PE	-12.5
PB	8.6
P/FCF	-11.62
P/S	85.31
Price/Cash	0.02
Debt/Equity	0.56
Debt/FCF	-0.76
Net Margins	-507%
Op. Margins	-705%
Sales Growth YoY	17K%
Sales Growth QoQ	3K%
Sales CAGR	-24%
Equity CAGR	8%
Earnings Growth YoY	-41%

Earnings Growth QoQ	-61%
Sales CAGR 5Y	37%
Equity CAGR 5Y	14%
Earnings CAGR 3Y	24%
Sales CAGR 3Y	24%
Equity CAGR 3Y	60%
Market Cap	$2.51B
Revenue	$29.48M
Assets	$444.95M
Total Debt	$164.07M
Cash	$60.34M
Shares Outstanding	639.93M
EV	2.62B
Moat Score	1%
Safety Score	64%
Working Capital	260.12M
Current Ratio	2.89
Shares Growth 3y	32%
Equity Growth QoQ	-5%
Equity Growth YoY	1%

Assets & ROA

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Stockholders Equity & ROE

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Geron Corp is a clinical-stage biopharmaceutical company focused on the research and development of cancer treatments. The company's leading drug in development, Imelstat, is being tested for the treatment of myelodysplastic syndromes, which are disorders of the blood, and myelofibrosis, which is a rare blood cancer affecting bone marrow. The company earns revenue through collaboration agreements, milestones, royalties, and licensing arrangements. Geron possesses global rights to this drug.

SEC Filings

Direct access to Geron Corp (GERN) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Geron Corp compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Geron Corp compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

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Geron Corp Discounted Cash Flow

Fully customizable DCF calculator online for Geron Corp.

Years

Calculation mode

= -$2.2B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	-$216M	-$216M	-$216M	-$216M	-$216M	-$216M	-$216M	-$216M	-$216M	-$216M	-$216M	-$2.2B
DCF		-$197M	-$179M	-$163M	-$148M	-$134M	-$122M	-$111M	-$101M	-$92M	-$83M	-$835M
Value	-$2.2B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	-3K%	0%	-479%	-3K%	-3K%	-15K%	-30K%	-8K%	-24K%	-78K%	-507%
ROA	-	-0%	-24%	-27%	-17%	-44%	-28%	-50%	-73%	-49%	-47%
ROE	-	0%	-24%	-27%	-15%	-51%	-36%	-92%	-177%	-74%	-69%

Bad Net Margins (-506.57%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	-	-	-	-	-	-0.36	-0.52	-0.4	-0.49	-0.76
Debt over Equity	-	-	-	-	-	-	0.11	0.39	0.64	0.33	0.56
Growth Stability	-	-	-	-	-	-	-	-	-	-	1

Good Debt/FCF ratio (-0.76)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Good Debt/Equity ratio (0.56)

The company is not overleveraged and has a good balance between equity and debt.

Good Graham’s Stability (1)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	3K%	-83%	-83%	0%	-57%	-45%	451%	-57%	-60%	37%
Earnings YoY growth	-	-100%	-64K%	-5%	-3%	154%	10%	54%	22%	30%	-
Equity YoY growth	-	9%	-14%	-15%	71%	-24%	56%	-40%	-37%	210%	14%
FCF YoY growth	-	-363%	-24%	-	-	110%	52%	43%	33%	32%	-