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

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

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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.

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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.