NEW YORK, NY / ACCESSWIRE / April 13, 2018 / Rigel shares were popping on Thursday but unfortunately it was due to a mistake. The company corrected the mistake after-hours and announced that there had been an error that posted inaccurate information regarding the FDA's review of the New Drug Application (NDA) for fostamatinib. Geron also saw big gains as investors eagerly await for Johnson & Johnson to report first quarter earnings next week. Geron is partnered with the giant.

RDI Initiates Coverage on:

Geron Corporation
https://rdinvesting.com/news/?ticker=GERN

Rigel Pharmaceuticals, Inc.
https://rdinvesting.com/news/?ticker=RIGL

Geron Corporation shares closed up 20.54% yesterday on about 14.5 million shares traded and continued to see gains in after-hours trading. The oncology company, which is partnered with giant Johnson & Johnson, saw its shares explode as Wall Street's anticipation heightens for Johnson & Johnson's first quarter earnings report that is scheduled for next Tuesday. Geron is developing imetelstat with Johnson & Johnson, a novel treatment for myeloid-based malignancies. It was in mid-March that Geron released its fourth quarter results during which it included an improved outlook for imetelstat. J&J completed Imetelstat third internal review - IMbark, and is in a position to take a decision whether it wants to hold on to Imetelstat rights. Geron reported earnings per share of ($0.05) for the quarter, dragging behind analyst expectations of ($0.01). Revenue of $0.19 million was also behind the $0.41 million that analysts had expected.

Access RDI's Geron Corporation Research Report at:
https://rdinvesting.com/news/?ticker=GERN

Rigel Pharmaceuticals, Inc. shares closed up 16.72% on about 19.5 million shares traded on Thursday. Unfortunately the rise in price however was a mistake according to the company. Rigel announced after the market closed on Thursday, "Due to an error by the external host of its investor relations website, inaccurate information was displayed regarding the U.S. Food and Drug Administration's (FDA) review of the New Drug Application (NDA) for fostamatinib." Fostamatinib is the company's lead candidate and is for the treatment of adult patients with chronic immune thrombocytopenia. The FDA is still continuing its review of the NDA and the Prescription Drug User Fee Act (PDUFA) with an action date of April 17, 2018. Earlier in the month shares had sunk after the company announced disappointing top-line data from a mid-stage study on the drug.

Access RDI's Rigel Pharmaceuticals, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=RIGL

Our Actionable Research on Geron Corporation (NASDAQ: GERN) and Rigel Pharmaceuticals, Inc. (NASDAQ: RIGL) can be downloaded free of charge at Research Driven Investing.

Research Driven Investing

We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.

RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.

Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker-dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

CONTACT

For any questions, inquiries, or comments reach out to us directly at:

Address:

Research Driven Investing, Unit #901 511 Avenue of the Americas, New York, NY, 10011

Email:

contact@rdinvesting.com

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: RDInvesting.com