06:29 AM EDT, 06/07/2024 (MT Newswires) -- Geron ( GERN ) said Friday it received approval from the US Food and Drug Administration for its drug Rytelo as a treatment of adult patients with lower-risk myelodysplastic syndrome, a type of leukemia.

Shares of the company rose more than 16% in recent premarket activity on Friday.

The approval was based on Geron's ( GERN ) IMerge phase 3 trial where Rytelo met all endpoints relating to higher rates of proper red blood cell transfusion, the company said.

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