10:37 AM EDT, 03/19/2024 (MT Newswires) -- Geron ( GERN ) said Tuesday it priced an underwritten offering of about 42 million shares and about 8 million pre-funded warrants at $3 per share and $2.999 per pre-funded warrant for gross proceeds of about $150 million.

Net proceeds from the offering, along with existing cash, cash equivalents and current and noncurrent marketable securities, will be used for the commercialization of imetelstat in the US and the potential launch and commercialization of the drug in the European Union, the company said.

Remaining proceeds, if any, will also be used for working capital and general corporate purposes.

The offering is set to close around March 21, subject to closing conditions.

Shares of Geron ( GERN ) added 5.2% in recent trading on Tuesday.

Price: 3.34, Change: +0.17, Percent Change: +5.21