Geron Corporation (NASDAQ:GERN) is due to hold its annual meeting of shareholders on May 9, 2017, at 4:00 pm, PDT. The company has invited all stockholders to attend the meeting, which would be held at its office location, at 149 Commonwealth Drive, Menlo Park, California. Added to this, shareholders also have the option to attend the meeting via conference call. Stockholders are requested to submit their queries ahead of the meeting, but would also be allowed to do so, during the meet-up.
The company noted that it would also release its financial results for the 1Q2017, on the same date, as well, after the markets close. However, since the shareholder meeting is being held on the same day, a follow-up conference call is unnecessary. The meeting comes at a time when Geron is working to reach a settlement, with its stockholders, between December 10, 2012 and March 11, 2014. The company’s proposed settlement is pending court approval, which is expected to be received on July 21, 2017.
A court hearing has been scheduled on the same date, which aims to determine if the $6.25 million settlement is fair and reasonable. During the hearing, the court would also determine if the settlement should be dismissed with prejudice or the plan be approved. Finally, the court would also assess if the application by the lead counsel, for payment of attorneys’ fees, fixed at 25% of the settlement amount is to be approved.
Earlier, Geron announced that Janssen Research & Development LLC has completed the second internal data review of its IMerge and IMbark clinical trials. The company noted that the benefit/risk profile of the IMerge trial was in support of continued development of the drug. As such, GERN would be providing a data package for proposed trial design, refinements and plans.
Geron Corporation (NASDAQ:GERN) completed the May 3 trading session, with a trade volume of 1.07 million, only to loose 0.77% , to close at $2.58 per share.
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