GERON CORP
For the period ended Dec 31, 2025. Filed Mar 2, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Mar 2, 2026
GERN$0.97-2.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| (In thousands) | |||
| Cash flows from operating activities: | |||
| Net loss | $(83,500) | $(174,572) | $(184,127) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation and amortization | 474 | 546 | 442 |
| Accretion and amortization on investments, net | (6,921) | (9,683) | (11,150) |
| Amortization of debt issuance costs/debt discount | 1,071 | (3,108) | 1,088 |
| Non-cash interest expense on liabilities for sales of future royalties | 18,948 | 5,345 | — |
| Loss of extinguishment of debt | — | 1,707 | — |
| Stock-based compensation for services by non-employees | 88 | 135 | 828 |
| Stock-based compensation for employees and directors | 26,659 | 31,185 | 18,526 |
| Amortization of right-of-use assets | 730 | 675 | 591 |
| Increase in allowance for doubtful accounts | (50) | (251) | — |
| Changes in assets and liabilities: | |||
| Inventory | (77,922) | (37,971) | — |
| Accounts receivable, net | (991) | (35,695) | — |
| Interest and other receivables | 614 | (1,198) | 1,490 |
| Prepaid expenses and other assets | 443 | (175) | (886) |
| Deposit and other assets | (1,865) | 618 | 692 |
| Accounts payable | 2,661 | 2,435 | (4,029) |
| Accrued compensation and benefits | 7,689 | 9,049 | 2,224 |
| Royalty financing obligation | (14,159) | (2,186) | — |
| Accrued liabilities | 15,790 | (4,759) | 7,208 |
| Operating lease liabilities | (796) | (715) | (640) |
| Net cash used in operating activities | (111,037) | (218,618) | (167,743) |
| Cash flows from investing activities: | |||
| Purchases of property and equipment | (49) | (680) | (830) |
| Purchases of marketable securities | (304,421) | (476,932) | (475,594) |
| Proceeds from maturities and sales of marketable securities | 411,717 | 371,608 | 296,102 |
| Net cash provided by (used in) investing activities | 107,247 | (106,004) | (180,322) |
| Cash flows from financing activities: | |||
| Proceeds from issuances of common stock from equity plans | 2,267 | 32,683 | 13,072 |
| Proceeds from issuance of common stock and warrants in public offering, net of paid issuance costs | — | 140,729 | 213,337 |
| Proceeds from exercise of warrants | — | 1,394 | 105,912 |
| Proceeds from sale of future royalties | — | 125,000 | — |
| Proceeds from debt financing, net of paid debt issuance costs and debt discounts | — | 121,120 | 29,700 |
| Repayment of debt | — | (86,554) | — |
| Net cash provided by financing activities | 2,267 | 334,372 | 362,021 |
| Net effect of exchange rates on cash, cash equivalents and restricted cash | 87 | (12) | (27) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | (1,436) | 9,738 | 13,929 |
| Cash, cash equivalents and restricted cash at the beginning of the period | 80,876 | 71,138 | 57,209 |
| Cash, cash equivalents and restricted cash at the end of the period | $79,440 | $80,876 | $71,138 |
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