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SEC filingRevenue grew 30.9% to $51.8M from higher RYTELO patient volumes despite elevated gross-to-net adjustments, delivering first operating profit of $158K through cost discipline, while net loss narrowed 81.6% to -$3.6M amid intensified cash use for restructuring and inventory.
Geron Corporation reported Q1 FY2026 results reflecting RYTELO commercialization momentum amid disciplined cost management. Revenue rose 30.9% year-over-year to $51.8 million from $39.6 million, as the increase in sales volume stemmed primarily from a higher number of patients on therapy. This growth occurred despite an increase in gross-to-net adjustments, driven by a greater proportion of sales made under governmental managed-care pricing programs and group purchasing organizations, in addition to greater volume of product returns. These dynamics underscore the challenges and opportunities in expanding market penetration for RYTELO.
Net income improved 81.6% to a $3.6 million loss from $19.8 million, with diluted EPS advancing 66.7% to -$0.01 from -$0.03. The narrower loss highlights operational efficiencies outweighing other expense pressures, providing a clearer path toward sustained profitability as RYTELO adoption broadens.
Net cash provided by operating activities deteriorated to -$62.9 million from -$47.9 million, with the increase in net cash used primarily due to payments related to workforce reduction and inventory purchases. These investments align with substantial and often long-term commitments in the supply chain to ensure sufficient drug product for future commercialization requirements and clinical trial needs. Contractual obligations under manufacturing and supply agreements for RYTELO, along with operating leases, form the core of operating expenditures.