Boston, MA 11/07/2014 (wallstreetpr) – Geron Corporation (NASDAQ:GERN), a $356 million clinical-stage biopharmaceutical, announced 3Q financial results that brought some joy on the faces of the investors. The company also updated on the FDA issue around its investigational drug known as imetelstat. Both earnings and the FDA update brought enough good news to the stock that it gained near 26% amid extremely huge volume.
Geron Corporation (NASDAQ:GERN) reported a loss of $0.06 per share for 3Q, which was in-line with the estimated loss of $0.06 per share for the quarter. However, its revenue figure fell short of the analyst prediction. Revenue for the quarter came in at $160,000 against $240,000.
Elsewhere, Geron Corporation (NASDAQ:GERN) said that the FDA removed the hold on the investigation new drug application for imetelstat. That means that the clinical development of the drug is now acceptable.
AngloGold Ashanti Limited (ADR) (NYSE:AU) lamented that weak gold price was posing a threat to its short-term view. However, the gold miner stated that it was excited about the medium and long-term fundamentals in the gold business. To survive the turbulent short-term, the company will continue its cost-cutting efforts. Such efforts have helped the company to boost its profits when where revenues have declined.
AngloGold Ashanti Limited (ADR) (NYSE:AU) posted 3Q net income of $41 million, which was far much better than $1 million its posted in the same quarter last year. The gain in profit was attributed to the cost-cutting measures that have also seen the company shutting down some mines.
Revenue in the latest quarter declined to $1.34 billion, which was 5.5% short of the same quarter last year.
Plug Power Inc (NASDAQ:PLUG) entered in a supply deal with California-based Golden State Foods to provide the latter with fuel cell technology to power its vehicles. Plug Power Inc (NASDAQ:PLUG) will supply its so-called GenDrive fuel cell system for use in 39 material handling vehicles. The company is been trying to boost its sales and cut cost so as to become profitable.
Plug Power Inc (NASDAQ:PLUG) reports 3Q earnings later this month during which analysts estimate it would report a loss of $0.03 per share and revenue of $24.4 million.