Geron Suppliers Register Shares for Sale (GERN)
Geron Corp. (NASDAQ: GERN) on Monday filed a registration statement for the resale of shares by existing holders. This is not a huge deal on the surface as it is ‘only’ 344,120 shares of common stock with a listed value of roughly $2 million. The following share counts are being filed to possibly be sold as follows:
- 55,545 shares by Hongene Biotechnology Limited,
- 93,244 shares by Samchully Pharm. Co., Ltd.
- 195,331 shares of our common stock by ReSearch Pharmaceutical Services, Inc.
Geron has already noted that it will not receive any of the proceeds from the sale of these shares. As you will also see, this represents an insignificant number of shares in the grand scheme of things.
As of November 11, 2009, Geron had 200,000,000 shares of common stock authorized for issuance and 91,971,441 shares of common stock outstanding. also as of November 11, 2009, Geron has reserved for future issuance approximately 25,831,114 shares of common stock for the company stock plans, potential milestone payments and outstanding warrants.
On November 10, 2009, in payment to Hongene Biotechnology Limited under a manufacturing agreement where Hongene is making certain raw materials intended to be used for the manufacture of drug product for use in human clinical trials, Geron issued to Hongene 55,545 shares of common stock.
On November 10, 2009, in payment to Samchully Pharm. Co., Ltd. under a manufacturing agreement where Samchully is performing certain services and manufacturing certain raw materials and products for use in human clinical trials, Geron issued to Samchully 93,244 shares of common stock.
On November 10, 2009, in payment to ReSearch Pharmaceutical Services, Inc. under a project agreement where RPS is providing certain services in support of Geron’s clinical programs, the company issued 195,331 shares to RPS.
Some insider sales by existing holders have ominous implications, but that does not appear to be the case here on the surface.
Jon C. Ogg
