Why Geron Corporation Stock Is Jumping Today

Shares of the clinical-stage biotech Geron Corporation (NASDAQ: GERN) rose by as much as 13.5% in early morning trading today, thanks to a Fast Track designation from the U.S. Food and Drug Administration (FDA) for the company's experimental blood-cancer medicine, imetelstat, as a treatment for adult patients with transfusion-dependent anemia due to low- or intermediate-1-risk myelodysplastic syndromes.

Imetelstat is a first-in-class telomerase inhibitor being developed by Johnson & Johnson's (NYSE: JNJ) biotech subsidiary Janssen through an exclusive worldwide licensing deal with Geron.

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Source: Fool.com