Slides
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Q3 2025 Earnings Call November 5, 2025
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2 During the course of this presentation and question-and-answer session, there will be forward-looking statements regarding future events, performance, plans, expectations and other projections, including those relating to: • The launch, commercial opportunity and therapeutic potential of RYTELO® (imetelstat); • Anticipated clinical and commercial events and related timelines; • The sufficiency of Geron’s financial resources; and • Other statements that are not historical fact. Actual events or results could differ materially; refer to the discussion under the heading “Risk Factors” in Geron’s most recent periodic report filed with the SEC, which identifies important factors that could cause actual results to differ materially from those contained in the forward-looking statements, and our future updates to those risk factors. Geron undertakes no duty or obligation to update our forward- looking statements. Forward-Looking Statements
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3 Welcome and Introduction MICHELLE ROBERTSON Executive Vice President, Chief Financial Officer and Treasurer AHMED ELNAWAWI (“NAWAWI”) Executive Vice President, Chief Commercial Officer JOSEPH EID, M.D. Executive Vice President, Research and Development and Chief Medical Officer HAROUT SEMERJIAN President and Chief Executive Officer
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4 Introductory Remarks & Commercial Updates Harout Semerjian President and Chief Executive Officer
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5 Strategy and Commercial Overview o Q3 RYTELO net product revenue of $47.2M o Strengthened leadership team o Initial opportunities identified to improve RYTELO execution Medical Affairs and Pipeline Update o Five abstracts, including one oral presentation, accepted for ASH 2025 Annual Meeting and Advocacy Forum o Additional initiatives to educate HCPs and build RYTELO awareness underway o Enrollment completed in IMpactMF Phase 3 clinical trial in relapsed/refractory myelofibrosis Q3 2025 Financial Update o 2025 operating expenses expected to be $250M to $260M, down from previous guidance of $270M to $285M Q3'25 Overview
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6 A Strong Foundation to Accelerate Growth RYTELO is a compelling drug with meaningful efficacy Clear opportunity to grow RYTELO with improved execution Patient need in lower-risk MDS is high LR-MDS = lower-risk myelodysplastic syndromes; EU MAA = European Union Marketing Authorization Application; CHMP = Committee for Medicinal Products for Human Use *These projections are based on expectations about event rates (deaths) and enrollment, which can change over time and may differ from our current expectations Strong cash position ($421.5M as 0f 9/30/25)
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7 Sources: 1. Geron internal data on file; 2. Estimated based on IQVIA claims data analysis rolling 3 months ending August 2025; 3. Data on File Note: Favorable medical coverage policies defined as consistent with RYTELO FDA label and/or NCCN Guidelines Q3'25 RYTELO Performance Metrics demand decrease in Q3 2025 over Q2 20251 -3% ordering accounts since approval, a 15% increase Q3 2025 over Q2 20251 ~1,150 of RYTELO new patients starts in 1st and 2nd line2 ~36% of covered lives under plans with favorable RYTELO coverage policies3 ~90%
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8 Additional Actions Underway to Maximize Value of RYTELO and Explore Opportunities for Imetelstat Educate U.S. HCPs on RYTELO Increase Presence in Hematology Forums Expand IST Program with U.S. Clinical Sites Path to Accelerating Momentum and Expanding RYTELO (imetelstat) 1 2 3
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9 Medical Updates Joseph Eid, M.D. EVP , Research and Development and Chief Medical Officer
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10 Strong Presence at Upcoming ASH Meeting Five Accepted Abstracts at ASH 2025 Annual Meeting Phase 3 IMerge analysis highlighting potential association between treatment-emergent cytopenias and imetelstat response rates Poster Presentations Data from IMerge, IMbark and IMproveMF highlighting long-term survival outcomes, translational biomarker analyses, an update on our combination therapy trial in MF, and the investigator- sponsored IMpress clinical trial Oral Presentation
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11 Medical Affairs Strategic Initiatives Community Site Penetration Awareness and Education Ramp-Up Initiation of Investigator- Sponsored Trials (ISTs) KOL and Advocacy Alignment
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12 *These projections are based on expectations about event rates (deaths), which can change over time and may differ from our current expectations Phase 3 IMpactMF Clinical Trial for R/R Myelofibrosis enrolled at the end of September 2025 100% projected interim analysis* 2H 2026 Projected final (base case) analysis* 2H 2028
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13 Financial Results Michelle Robertson EVP , Chief Financial Officer
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14 Financial Overview Q3 2025 total OpEx $61.1M Cash and marketable securities as of 9/30/25 $421.5M Cash Balance Operating ExpensesNet Revenue Q3 2025 net product revenue $47.2M Expected 2025 OpEx Range $270M to $285M PreviousUpdated $250M to $260M
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15 Closing Remarks Harout Semerjian President and Chief Executive Officer
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16 Q&A
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Thank you! Contact: Investor Relations investor@geron.com 17