Geron

[anonymous]

Its the idiocy of shared voice / reach and frequency and JS is a big proponent. More importantly it allows JZ to have another excuse to use for the poor Q1 results. Buys the Jims a little time so they can continue sucking off the company teat, They see they the excessive and corrupt exec comp and they want in.

It’s all JS knows because she is a graduate of big pharma. You don’t need to know much at these companies bc it’s fed to you and your job is to only comply like a robot. She would have everything done “like they did at BMS” if she could because she doesn’t know how to operate otherwise. Go another layer deeper and you’ll find she is void of what is takes to do the job without someone telling her what to do every step of the way. She clung to Hassard bc she thinks it helps her position. She’s not going to like how that turns out for her and even her own reps are embarrassed.

 

[anonymous]

Let's skip the bullshit and talk about reality. The drug was never going to achieve forecasted sales. Chip was incompetent and lied to investors. JZ was the wrong hire; he never worked in this space before. On top of all this, Shannon, the SVP of HR, is totally clueless; amazingly, she is still employed. A going-out-of-business sale won't cover the liabilities of issuing stock to cover expenses. I talked to a recruiter who told me that having Geron on my resume is a liability.

 

[anonymous]

They think bringing in reps with zero relationships will be able to do what we do? They will fail and we will all have moved onto bigger and better things, laughing at their failures

It sounds like the current reps cant move the glorified supportive care either, perhaps you are not as talented as you portray on a anonymous message board. Signed JZ

 

[anonymous]

The Board and the EMC are atrocious for Geron and the SVP’s are completely incompetent. JH is maybe the worst of them all and has no clue on what he is doing and is unable to run the business day to day. Can’t make it through an IC call with us, can’t connect with the field teams and berates us every chance he gets. Added to that why are they continuing to hire new people when they are not profitable is beyond idiocy! you don’t need more people you need better leaders.

The real damage to Geron occurred in November when they made a huge mistake on how they financed Geron’s debt. By signing on the dotted line with Royalty Pharma it gave the Board and the EMC a false sense of financial power when all they did was kill the market cap by losing 2 Billion dollars over 6 months, kill the stock by losing over 3+ dollars in value over that same time period and they borrowed, yes borrowed 375MM and will exercise in the coming months the other 125MM , further decreasing the value of Geron. By financing outside the market they killed investor confidence and lost billions of dollars in value. Added to that is the poison pill that if they sell Geron they owe all that and much more, back to Royalty Pharma. Who would buy Geron with that chain around our necks!

So over the first full year Geron could be nearly 180-200MM in sales, which is very strong for a rare disease market/company with one product in their first full year. This creates a very strong mid-size biotech. Amazing work over the first year, by the sales teams and every biotech company would be happy with that performance but the incompetence of JZ, JH, JS, DB the entire Board and the EMC is on display daily and can’t see it or don’t want to!

Why Geron believes in JZ/JH is beyond comprehension given he killed Iovance and now has destroyed Geron. How do these fools get these jobs when they are just terrible and have never actually run a field organization/company before. Incompetent idiots running this place and everyone should run away as fast as they can!!

Don’t believe what I have said, go look on the corporate web site and it is all there in Geron’s own press releases.

Sales are very good at Geron yet the investor’s market is making Geron pay the price on how they are funding Geron, all of these new roles and new positions. Lie until you die or make it up as you go, must be their moto…because JZ, JS JH and now DB have killed Geron!

Geron Corporation Announces Up to $375 Million in Funding with Royalty Pharma and Pharmakon Advisors

November 7, 2024

Geron received $250 million in gross proceeds at closing, with access to an additional $125 million in debt

 

[anonymous]

We get IQVIA data. We just want to figure out what's going behind the scenes. The earnings call was a mess and management isn't offering a coherent narrative around what went wrong and what they plan to fix in 1x1s either.

I'm tempted to long b/c of how much the stock's come down but would like to get an idea of whether this is a fixable problem or not first.

You can read about all of the problems in all of these posts. Jim Z has completely screwed up this company. Goals are unattainable because we are comparing them to LUSPA sales, including high risk disease and other uses. Completely off of our label. They are making changes that are totally unacceptable. Realigning the salesforce and taking away business from the current representatives to give to new representatives that have zero relationships. This is not like Phizer. You don’t need a ton of reps. Jim does not understand this space nor do any of the other executives. They are trying to squeeze blood from a turnip. They are taking away hard earned business from current representatives, who have built relationships with providers over decades, and giving the business to reps that do not have relationships. They have shown time after time since Jim has started that they do not care about the representatives. If you look at each of the representatives, you will see they are all multiple president club winners, have been in industry for 30 years, and know the Hematology space. Jim, Jim and Dan W have never been in a rare disease. Let alone Hematology space. They are running this like a big Pharma company executives are making hundreds of thousands of dollars in salary and millions in stock. They are screwing the representatives out of money and keeping it in their own pockets. They think the reps are replaceable. What they don’t realize is they are the ones that should be replaced.

 

[anonymous]

They think bringing in reps with zero relationships will be able to do what we do? They will fail and we will all have moved onto bigger and better things, laughing at their failures

My hope is that all of the KAMS find better jobs elsewhere, Geron goes bankrupt, the executives lose everything.

 

[anonymous]

More scrutiny and effort was given in hiring the sales team than most of the senior mgmt of Geron. DB spent over 5 years on the BOD and allowed the company to launch a first in class drug with a pathetic medical affairs effort and a marketing campaign that did not resonate at the HCP level. Proof that Geron replaced one failure of a CEO with another. Geron mgmt gets away with blunder after blunder because most folks expect as much with penny stocks like GERN.

 

[anonymous]

They will cling to the belief that the fraud they foolishly hired aka Ziegler was the right choice. Some of them now know it is not, but their pride and egos will not let them course correct and accept they made a mistake in hiring one of the worst CCOs possible. Instead of saving this, they’ll go down in the flames inside the burning house they want to convince you is not burning down. They will blame anyone but themselves for causing the fire. Sad way to go out.

All they had to do was to do the right thing all along.

 

[anonymous]

Let's skip the bullshit and talk about reality. The drug was never going to achieve forecasted sales. Chip was incompetent and lied to investors. JZ was the wrong hire; he never worked in this space before. On top of all this, Shannon, the SVP of HR, is totally clueless; amazingly, she is still employed. A going-out-of-business sale won't cover the liabilities of issuing stock to cover expenses. I talked to a recruiter who told me that having Geron on my resume is a liability.

She’s out of her league here. She doesn’t know the business or sales or how this is supposed to work. She needs to stop gaslighting the field with the regurgitated lies that JZ feeds her. A fraud is a fraud, even when the fraud lies to you in a way that seems believable. Chip had his fraudulent narrative that got his ass in trouble. JZ has his fraudulent narrative where he wants you to believe sales are flat and he’s going to be the hero. Manufactured consent.

There is a false forecast that was never going to be achieved because he lied.

First year launch never has a hockey stick. Quit looking at 4x4 and 8x8 and get full year under the belt and look at quarterly growth. Oh and only after you put some fucking competent Marketing and Medical teams in place. Geron did NO favors to prepare for launch and yet hired Ziegler & Hassard to come in and shit on the only thing (KAMs) that worked at launch.

 

[anonymous]

great news about realigning reps to break up those customer relationships which are a dime a dozen in oncology. The jims are total scumbags enabled by an incompetent CEO and BOD. Only at Gerkcon would anyone think a realignment makes sense now.

 

[anonymous]

great news about realigning reps to break up those customer relationships which are a dime a dozen in oncology. The jims are total scumbags enabled by an incompetent CEO and BOD. Only at Gerkcon would anyone think a realignment makes sense now.

It’s terrifying what an incompetent CCO can convince an even dumber BOD and entire EMC of. It’s a true embarrassment to work at Geron. Here’s hoping those of us deserving of better leadership and opportunity find it soon and get the hell out of here and let these grifters run the company dry and turn on each other!

 

[anonymous]

You can read about all of the problems in all of these posts. Jim Z has completely screwed up this company. Goals are unattainable because we are comparing them to LUSPA sales, including high risk disease and other uses. Completely off of our label. They are making changes that are totally unacceptable. Realigning the salesforce and taking away business from the current representatives to give to new representatives that have zero relationships. This is not like Phizer. You don’t need a ton of reps. Jim does not understand this space nor do any of the other executives. They are trying to squeeze blood from a turnip. They are taking away hard earned business from current representatives, who have built relationships with providers over decades, and giving the business to reps that do not have relationships. They have shown time after time since Jim has started that they do not care about the representatives. If you look at each of the representatives, you will see they are all multiple president club winners, have been in industry for 30 years, and know the Hematology space. Jim, Jim and Dan W have never been in a rare disease. Let alone Hematology space. They are running this like a big Pharma company executives are making hundreds of thousands of dollars in salary and millions in stock. They are screwing the representatives out of money and keeping it in their own pockets. They think the reps are replaceable. What they don’t realize is they are the ones that should be replaced.

 

[anonymous]

Geron is now getting sued by what a fourth entity based in misleading investors and making false statements. What about the false statements to us in the field on compensation and making our goals outrageous so they can save money. They are adjusting our comp for Q1 before they effed up the goals, forced our team to sell
off label to achieve those goals and then told us that it was our fault. JH said there would be an adjustment and that again was a lie, then JZ and DB were on talking about this being a one time thing when they screwed the goals up for the first quarter already. Same thing for quarter 2. Same crappy goals with no methodology and no explanation how they got to those goals. DB has been on the board for 5 years and voted for these two Jack Wagons, JZ and JH. Chip brought in two CCO’s that had no business being in those roles and the management team and The Board allowing JZ to do things to Geron that is destroying the company, the culture and the motivation to go help the patients. The Jim’s and DB don’t give a sh-t about patients and they have destroyed the fundamental value of Geron in less than 6 months. Happy that JZ said he bleeds Pfizer blue at our meeting because he is draining the blood out of Geron’s field teams and out of this company!

Good Job JZ, DB, JH. Take another stock grant out of petty cash from Geron to make yourselves feel better. We can afford that for the great job you all have done. We borrowed so much already what is a few more shares for each of you!!

Jack Wagons!!

 

[anonymous]

DB is proof that going thru the motions just makes her look like the disconnected CEO that she is. Whty waste everyone's time beatch with the one on ones with sales reps and sales districts when you've already indicated that Jims run the show? You don't know how the goals were set, the realignment decisions were made, but you do know how to accept those new option grants in etrade LOL

 

[anonymous]

So the sales department wants to fire and blame everyone?

It’s all JS knows because she is a graduate of big pharma. You don’t need to know much at these companies bc it’s fed to you and your job is to only comply like a robot. She would have everything done “like they did at BMS” if she could because she doesn’t know how to operate otherwise. Go another layer deeper and you’ll find she is void of what is takes to do the job without someone telling her what to do every step of the way. She clung to Hassard bc she thinks it helps her position. She’s not going to like how that turns out for her and even her own reps are embarrassed.

.unless something drastically changed….John Scarlett or “JS” is a male.

 

[anonymous]

So the sales department wants to fire and blame everyone?

.unless something drastically changed….John Scarlett or “JS” is a male.

Not talking about John Scarlett, dipshit

 

[anonymous]

So the sales department wants to fire and blame everyone?

.unless something drastically changed….John Scarlett or “JS” is a male.

You’re so out your league here. Don’t embarrass yourself.

 

[anonymous]

I’ve worked at a lot of pharma companies and I’m really concerned about the materials coming out of marketing. They’re all over the place and they’re cutting data that at best is unethical and at worse it’s illegal. Our new medical affairs VP is a dunce and is clueless about oncology. Run before the FDA catches wind

 

[anonymous]

You can read about all of the problems in all of these posts. Jim Z has completely screwed up this company. Goals are unattainable because we are comparing them to LUSPA sales, including high risk disease and other uses. Completely off of our label. They are making changes that are totally unacceptable. Realigning the salesforce and taking away business from the current representatives to give to new representatives that have zero relationships. This is not like Phizer. You don’t need a ton of reps. Jim does not understand this space nor do any of the other executives. They are trying to squeeze blood from a turnip. They are taking away hard earned business from current representatives, who have built relationships with providers over decades, and giving the business to reps that do not have relationships. They have shown time after time since Jim has started that they do not care about the representatives. If you look at each of the representatives, you will see they are all multiple president club winners, have been in industry for 30 years, and know the Hematology space. Jim, Jim and Dan W have never been in a rare disease. Let alone Hematology space. They are running this like a big Pharma company executives are making hundreds of thousands of dollars in salary and millions in stock. They are screwing the representatives out of money and keeping it in their own pockets. They think the reps are replaceable. What they don’t realize is they are the ones that should be replaced.

This is very helpful, thanks.

I read another comment on this thread about "15% attainment". Is management saying that the salesforce is only hitting 15% attainment based off of ~45mm/qtr sales? If so, we can reasonably argue to Dawn that her commercial heads are setting unattainable targets that accomplish nothing besides alienating the salesforce.

Are attainment targets based off of total sales or other metrics like visits?

 

[anonymous]

This is very helpful, thanks.

I read another comment on this thread about "15% attainment". Is management saying that the salesforce is only hitting 15% attainment based off of ~45mm/qtr sales? If so, we can reasonably argue to Dawn that her commercial heads are setting unattainable targets that accomplish nothing besides alienating the salesforce.

Are attainment targets based off of total sales or other metrics like visits?

They can’t even explain how they are setting targets. They are following basic pharma practice and trying to apply basic DDD data and luspa sales. they have no clue how rare disease works. They won’t give you a straight answer or be transparent. They have no clue what they are doing and Ziegler has consultants infiltrating every aspect of the commercial business. He can’t do the job. He’s completely overhired and they are all
People he knows. He trying to insulate himself with people who will
Protect him. It’s burning down. Geron will burn through all the cash they have. If Dawn Bir can’t see that, she’s not fit to be on the board or an interim or perm ceo.

Institutional shareholders need to vote this board OUT