Geron Corporation
12/16/2025 | Press release | Distributed by Public on 12/16/2025 15:02
Reorganization (Form 8-K)
Item 2.05 Costs Associated with Exit or Disposal Activities.
On December 16, 2025, Geron Corporation (the "Company") began implementation of a strategic restructuring plan intended to position the Company for long-term value creation for patients and shareholders and improve its financial discipline (the "Plan"). The Company's Board of Directors unanimously approved the Plan on December 10, 2025. As part of the Plan, the Company will implement a reduction in workforce of approximately one-third of its current approximately 260 employees (the "RIF"). The Company began notifying affected employees on December 16, 2025, and expects the RIF to be substantially complete in the first quarter of 2026.
The Company estimates that it will incur approximately $18 million in restructuring and restructuring-related charges, consisting primarily of one-time employee severance payments, healthcare and related benefits, and other employee-related costs. The Company anticipates that the restructuring charges will impact its results of operations during the fourth quarter of 2025 and first quarter of 2026, and that most of the cash payments will occur through the first quarter of 2026. The restructuring charges are not currently anticipated to include any non-cash charges associated with equity-based compensation or otherwise.
The restructuring charges and the timing of the charges that the Company expects to incur in connection with the Plan are subject to a number of estimates and assumptions, and actual results may differ materially. The Company may also incur additional costs or charges not currently contemplated due to events that may occur as a result of, or that are associated with, the Plan.
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