FDA Approves Geron's Blood Disorder Treatment

Geron's Rytelo to Compete with Bristol Myers Squibb, Stock Up 18%

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Geron's stock surged +18% June 7th after the FDA approved its blood disorder treatment, Rytelo.

Although analysts had anticipated the approval, it occurred sooner than expected.

The health regulator's nod allows the injectable drug, branded as Rytelo, to be used for treating transfusion-dependent anemia in patients with lower-risk myelodysplastic syndromes (MDS), a group of blood cancers.

Rytelo is set to compete with Bristol Myers Squibb's (BMY.N), Reblozyl, which received FDA's expanded approval last year to treat the same disease indication.

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