Geron Corporation (GERN) posted a net loss of $18.4 million, or 20 cents per share in the fourth quarter of 2009, higher than the Zacks Consensus Estimate of a loss of 17 cents. However, the result was better than the year-ago loss of 22 cents. For 2009, the company reported a loss per share of 80 cents compared to a loss of 79 cents in 2008.

Revenues for the quarter increased 11.2% year-over-year to $605,000. Revenues consisted of $225,000 from collaborative agreements and $380,000 from royalties and license fees. Geron has several license agreements with various oncology, diagnostics, research tools, and agriculture and biologics production companies.

Collaborative revenues for 2009 reflect revenues recognized under the company’s collaboration with GE Healthcare Ltd. For the full year, Geron’s revenues came in at $1.7 million compared to $1.3 million (excluding $1.5 million of milestone payments in 2008).

Total operating expenses for the quarter were $19 million, up from $18.2 million reported in the year-ago period. Research and development expenses increased 7.7% to $15.3 million and general and administrative expenses declined 10% to $3.6 million.

Going forward, we expect research and development expenses to increase as Geron progresses with the development of Imetelstat and GRNVAC1. While the company intends to develop GRNOPC1 initially for spinal cord injury, the company has plans to study the candidate for other neurological diseases Incorporatedluding multiple sclerosis, stroke and Alzheimer’s disease.

Besides GRNOPC1, Geron has other pipeline candidates that are being developed for the treatment of cancer and chronic degenerative diseases.

Imetelsat, the company’s lead anti-cancer drug, is currently being tested in patients with chronic lymphoproliferative diseases, solid tumor malignancies, non-small cell lung cancer, breast cancer and multiple myeloma. The company also has a cancer vaccine, GRNVAC1, which is being tested in patients with acute myelogenous leukemia.

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