Geron Pharmaceutical Corporation Implements Second Round of Workforce Reduction
Approximately One-Third of Staff Affected to Optimize Operating Costs Following Executive Roster Changes
Geron Corporation, the pharmaceutical company based in Foster City, California, has disclosed a substantial restructuring plan that will involve laying off roughly one-third of its current workforce, which stands at 260 employees. According to a press release dated December 11, this downsizing operation is anticipated to be “substantially complete” during the first quarter of 2026.
The primary objective of this move is to lower the company’s 2026 operating expenses below the levels projected for 2025. Geron expects the savings to begin accumulating in the first three months of next year. Previously, in November, Geron had forecasted its total operating expenses for 2025 to range between $250 million and $260 million. The company also noted that it expects to incur restructuring-related charges, with further details to be disclosed in an upcoming securities filing.
Geron’s new CEO, Harout Semerjian, who took the helm in August, stated that these changes are being implemented “from a position of strength and in the spirit of prudent fiscal management.” He indicated that the leadership team had assessed the business with the goal of streamlining the organizational structure to advance the company’s strategy and generate long-term value.
Maximum Focus on Flagship Product
The restructuring follows Geron’s successful decades-long effort to secure FDA approval last June for its myelodysplastic syndromes (MDS) drug, Rytelo (imetelstat).
Mr. Semerjian reaffirmed the company’s top priorities: maximizing the launch of Rytelo in the marketplace and advancing the late-stage IMpactMF trial, which is studying the same asset in JAK inhibitor relapsed/refractory myelofibrosis. Geron is also exploring opportunities to make Rytelo available outside the United States.
Notably, the workforce reduction comes amidst significant executive turnover. The former Chief Commercial Officer (CCO) departed less than two months after Rytelo’s FDA clearance. Since then, the previous CEO resigned at the end of March, and following Mr. Semerjian’s appointment, both the Chief Operating Officer (COO) and the replacement commercial chief also exited Geron in October.
In the third-quarter earnings report, which concluded in September, Geron reported net product revenue of $47.2 million and a net loss of $18.4 million. Mr. Semerjian acknowledged that the company must continue to push to realize Rytelo’s full potential in the market.
