We recently compiled a list of the 10 Firms Mirror Dow Jones Decline on Monday. In this article, we are going to take a look at where Geron Corp. (NASDAQ:GERN) stands against the other stocks.
Ten companies kicked off this week’s trading mirroring a decline on Dow Jones with a series of catalysts dampening investor sentiment. In this article, let’s explore the reasons behind their decline.
To come up with Monday’s top losers, 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)
Shares of Geron Corp. decreased by 3.92 percent on Monday to finish the day at $3.43 apiece as investors remained on the sidelines for further developments from the company.
Earlier, the company reported net loss in the third quarter and the first nine months of the year. Albeit a lower net loss in the third quarter, its first nine months registered a higher loss of $149.2 million as compared with the $132.2 million registered year-on-year.
Investors are also waiting on the sidelines for any updates on its drug Rytelo, which aims to treat specific types of myelodysplastic syndromes. The European Medicines Agency’s Committee for Medicinal Products for Human Use (CHMP) already recommended the drug for approval to the European Commission, which will review the recommendation. A final decision on market authorization is expected in the coming months.
Overall GERN ranks 7th on our list of the stocks that crashed today. 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 timeframe. 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.