Geron Corp. Shares Display Perfect Head-and-Shoulders Pattern
What a site, Geron Corp. (NASDAQ:GERN) shares are displaying a beautiful head-and-shoulders pattern. From $5 a share in May to $9 in July then back down to $5 level today. Stem Cells were all the rage a few months ago, now they've just lost steam.
Geron is the company that made news with its stem cell therapy showing benefits in treating spine injuries in rodents' cervical region.
Geron's experimental therapy, GRNOPC1 had earlier run into safety problems as rodents being treated for spinal cord injury in the thoracic region developed a kind of tumor in the animal studies, which prompted the U.S. health regulator to put an early-stage trial on hold.
Data from the current animal study could be used to release the clinical hold and testing the therapy in patients with spinal injuries in the cervical region, the Food and Drug Administration had said in October.
Last month, the stem cell research company said GRNOPC1, reduced tissue damage and improved recovery of nerve function in the proof-of-concept study.
Seven days after injury, rodents treated with GRNOPC1 did not have a cavity in the spinal cord, had more preserved nerve units, and more neurons with their protective covering myelin, Geron said.
Back to the head-and-shoulders pattern, here's a larger view of the chart thanks to finviz.com. So could the stock be a bottom? You make the call.
Disclaimer: No positions in GERN.
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