The Foster City, California-based biopharmaceutical firm confirmed the decision on Wednesday, effectively terminating the research program for this specific patient population. While the clinical trial reached a dead end, the company noted that no unexpected safety signals emerged during the investigation, leaving the drug's established safety profile unchanged.

Following the announcement, trading of Geron shares was suspended during the premarket session. Despite this setback, Rytelo remains approved for use in both the United States and Europe for adults diagnosed with lower-risk myelodysplastic syndromes characterized by anemia.