We recently published a list of 10 Firms End 2024 Stronger With Impressive Gains. In this article, we are going to take a look at where Geron Corp. (NASDAQ:GERN) stands against other firms end 2024 stronger with impressive gains.
A lackluster trading persisted throughout the last day of the year, with Wall Street’s main indices ending the day mixed.
The Dow Jones Industrial Average dipped by 0.07 percent, the S&P 500 shed 0.43 percent, and the Nasdaq Composite declined by 0.90 percent. Meanwhile, NYSE Composite inched up by 0.10 percent and S&P Composite rose by 0.44 percent.
Despite the lack of catalysts to spark trading, 10 companies–predominantly in the biopharmaceuticals sector–posted impressive gains. Let’s explore the reasons behind their outstanding performance.
To come up with Monday’s top gainers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.
A close-up of a laboratory technician in a laboratory, measuring a newly developed biopharmaceutical drug.
Geron Corp. (NASDAQ:GERN)
Geron Corp. (NASDAQ:GERN) rose for a third day on Wednesday, ending the year stronger by 4.12 percent at $3.54 apiece. Year-to-date, the company eked out gains of 65.4 percent from the $2.14 registered on January 2, 2024.
Based on three continuous days of rally, investors resorted to buying while waiting for fresh developments about its business updates.
Just recently, the company announced that the European Medicines Agency’s Committee for Medicinal Products for Human Use has recommended approval of its drug Rytelo for treating specific types of myelodysplastic syndromes (MDS).
The recommendation is expected to be endorsed by the European Commission, with a final decision on market authorization expected in the coming months.
Geron Corporation (NASDAQ:GERN) is a late-stage clinical biopharmaceutical company that focuses on developing and commercializing therapeutics for myeloid hematologic malignancies. The company’s lead product, Imetelstat, effectively treats MDS and myelofibrosis (MF). Consequently, the company is well-positioned to be a key player in the oncology market.
Overall, GERN ranks 7th on our list of firms end 2024 stronger with impressive gains. While we acknowledge the potential of GERN as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than GERN but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.