Geron reports no SVB deposits; $55M loan availability uncertain after SVB closure

GERON CORP

Geron holds no cash or securities at Silicon Valley Bank (SVB).
Under loan with Hercules (65%) and SVB (35%), $50M drawn of $125M total; $55M remains available.
SVB's closure by FDIC on March 10 creates uncertainty about Geron's ability to draw remaining $55M.
Geron expects existing cash (including Jan 2023 offering and warrant proceeds) to fund operations through Q3 2025.
Funding runway covers potential imetelstat NDA submission and U.S. commercial launch in lower risk MDS in H1 2024.

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