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<SEC-DOCUMENT>0001206774-10-000130.txt : 20100127
<SEC-HEADER>0001206774-10-000130.hdr.sgml : 20100127
<ACCEPTANCE-DATETIME>20100127171555
ACCESSION NUMBER:		0001206774-10-000130
CONFORMED SUBMISSION TYPE:	S-3
PUBLIC DOCUMENT COUNT:		4
FILED AS OF DATE:		20100127
DATE AS OF CHANGE:		20100127

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GERON CORP
		CENTRAL INDEX KEY:			0000886744
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				752287752
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-164555
		FILM NUMBER:		10551333

	BUSINESS ADDRESS:	
		STREET 1:		230 CONSTITUTION DRIVE
		CITY:			MENLO PARK
		STATE:			CA
		ZIP:			94025
		BUSINESS PHONE:		6504737700

	MAIL ADDRESS:	
		STREET 1:		200 CONSTITUTION DRIVE
		CITY:			MENLO PARK
		STATE:			CA
		ZIP:			94025

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GERON CORPORATION
		DATE OF NAME CHANGE:	19960521
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-3
<SEQUENCE>1
<FILENAME>geron_s3.htm
<DESCRIPTION>REGISTRATION STATEMENT FOR SPECIFIED TRANSACTIONS BY CERTAIN ISSUERS
<TEXT>
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    <title>geron_s3.htm</title>
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            <td nowrap width="99%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-WEIGHT: bold; FONT-FAMILY: serif">As filed with the
      Securities and Exchange Commission on January 27, 2010</font></font>
</td>
          </tr><tr valign="bottom">
            <td nowrap width="99%" style="BORDER-BOTTOM: #000000 2pt double; TEXT-ALIGN: right"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif"><font style="FONT-WEIGHT: bold">Registration No.
      333-&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></font>
  </td>
          </tr></table>
    </div><br>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="4" style="FONT-FAMILY: serif">UNITED STATES <br></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="4" style="FONT-FAMILY: serif">SECURITIES AND EXCHANGE COMMISSION <br></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Washington, D.C. 20549</font></font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;
</font><font size="2" style="FONT-FAMILY: serif"><br></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="4" style="FONT-FAMILY: serif">FORM S-3 <br></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="FONT-FAMILY: serif">REGISTRATION STATEMENT <br>UNDER
<br></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="FONT-FAMILY: serif">THE SECURITIES ACT OF 1933</font></font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;
<br></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="5" style="FONT-FAMILY: serif">GERON CORPORATION</font></font> <font size="5" style="FONT-FAMILY: serif"><br></font><font size="1" style="FONT-FAMILY: serif">(Exact Name of Registrant as Specified in Its Charter) <br></font><font size="2" style="FONT-FAMILY: serif">&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;</font></div>
    <div>&#160;</div>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" width="100%" style="">
<tr valign="bottom" style="HEIGHT: 14pt;">
            <td nowrap width="50%" style="TEXT-ALIGN: center">
              <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif">Delaware</font></div>
            </td>
            <td nowrap width="49%" style="TEXT-ALIGN: center">
              <div style="DISPLAY: block; TEXT-INDENT: 0pt">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman, serif">75-2287752</font></div>
              </div>
            </td>
          </tr><tr valign="bottom" style="HEIGHT: 14pt;">
            <td nowrap width="50%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">(State or Other Jurisdiction
of</font></td>
            <td nowrap width="49%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">(I.R.S. Employer</font></td>
          </tr><tr valign="bottom" style="HEIGHT: 14pt;">
            <td nowrap width="50%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">Incorporation or Organization)</font></td>
            <td nowrap width="49%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">Identification
No.)</font></td>
          </tr></table>
    </div><br>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;<br><font style="DISPLAY: inline; FONT-WEIGHT: bold">230 Constitution Drive <br>Menlo
Park, California 94025 <br>(650) 473-7700&#160;<br></font></font><font size="1" style="FONT-FAMILY: serif">(Address, Including Zip Code and Telephone
Number, <br>Including Area Code, of Registrant&#8217;s Principal Executive
Offices)</font></div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;</font>
<font size="2" style="FONT-FAMILY: serif"><br></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Thomas B. Okarma <br>President and Chief Executive Officer <br>Geron
Corporation <br>230 Constitution Drive <br>Menlo Park, California 94025
<br>(650) 473-7700 <br></font></font><font size="1" style="FONT-FAMILY: serif">(Name, Address, Including Zip Code and Telephone Number, <br>Including
Area Code, of Agent for Service) <br></font><font size="2" style="FONT-FAMILY: serif">&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;</font> <font size="2" style="FONT-FAMILY: serif"><br>Copies
to:<br></font><font size="2" style="FONT-FAMILY: serif">&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;</font> <font size="2" style="FONT-FAMILY: serif"><br>Alan C. Mendelson, Esq.<br>Mark V. Roeder,
Esq. <br>Latham &amp; Watkins LLP <br></font><font size="2" style="FONT-FAMILY: serif">140 Scott Drive <br>Menlo Park, California 94025 <br>(650) 328-4600
<br></font><font size="2" style="FONT-FAMILY: serif">&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;</font> <font size="2" style="FONT-FAMILY: serif"><br></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">Approximate date of commencement of proposed sale to the
public:</font></font> <font size="2" style="FONT-FAMILY: serif">From time to time
after this Registration Statement becomes effective. <br></font><font size="2" style="FONT-FAMILY: serif">&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;&#8211;</font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="1" style="FONT-FAMILY: serif">If the only securities being registered on this form are being offered
pursuant to dividend or interest reinvestment plans, please check the following
box.&#160;<font size="2" face="Wingdings">o</font><br></font><font size="1" style="FONT-FAMILY: serif"><font size="3">&#160;&#160;&#160;&#160;&#160;</font>If any of the securities being
registered on this Form are to be offered on a delayed or continuous basis
pursuant to Rule 415 under the Securities Act of 1933, other than securities
offered only in connection with dividend or interest reinvestment plans, check
the following box.&#160;<font size="2" face="Wingdings">x</font><font size="1"><br></font></font>&#160;&#160;&#160;&#160;&#160;<font size="1" style="FONT-FAMILY: serif">If this Form is filed to register additional
securities for an offering pursuant to Rule 462(b) under the Securities Act,
please check the following box and list the Securities Act registration
statement number of the earlier effective registration statement for the same
offering.&#160;<font size="2" face="Wingdings">o</font><br></font>&#160;&#160;&#160;&#160;&#160;<font size="1" style="FONT-FAMILY: serif">If this Form is a post-effective amendment
filed pursuant to Rule 462(c) under the Securities Act, check the following box
and list the Securities Act registration statement number of the earlier
effective registration statement for the same offering. <font size="2" style="FONT-FAMILY: wingdings">o</font><br></font>&#160;&#160;&#160;&#160;&#160;<font size="1" style="FONT-FAMILY: serif">If this Form is a registration statement
pursuant to General Instruction I.D. or a post-effective amendment thereto that
shall become effective upon filing with the Commission pursuant to Rule 462(e)
under the Securities Act, check the following box. <font size="2" face="Wingdings">o</font><br></font>&#160;&#160;&#160;&#160;&#160;<font size="1" style="FONT-FAMILY: serif">If this Form is a post-effective amendment to
a registration statement filed pursuant to General Instruction I.D. filed to
register additional securities or additional classes of securities pursuant to
Rule 413(b) under the Securities Act, check the following box.&#160;<font size="2" face="Wingdings">o</font><br></font>&#160;&#160;&#160;&#160;&#160;<font size="1" style="FONT-FAMILY: serif">Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, a non-accelerated filer, or
a smaller reporting company. See the definitions of &#8220;large accelerated filer,&#8221;
&#8220;accelerated filer&#8221; and &#8220;smaller reporting company&#8221; in Rule 12b2 of the Exchange
Act.</font></div>
    <div>&#160;</div>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" width="100%" style="">
<tr valign="bottom">
            <td align="left" nowrap width="1%">&#160;&#160;&#160;&#160;&#160;</td>
            <td align="left" nowrap width="48%"><font size="1" style="FONT-FAMILY: serif"><font size="2" style="FONT-FAMILY: wingdings">o<font size="3" style="FONT-FAMILY: times new roman">&#160;</font></font>Large
      accelerated filer</font></td>
            <td align="left" nowrap width="3%">&#160;</td>
            <td align="left" nowrap width="47%"><font size="1"><font size="2" style="FONT-FAMILY: wingdings">x<font size="3" style="FONT-FAMILY: times new roman">&#160;</font></font>Accelerated filer</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="1%">&#160;</td>
            <td align="left" nowrap width="48%"><font size="1"><font size="2" style="FONT-FAMILY: wingdings">o</font><font size="3" style="FONT-FAMILY: times new roman">&#160;</font>Non-accelerated
      filer (Do not check if a smaller reporting company)</font></td>
            <td align="left" nowrap width="3%">
            </td>
            <td align="left" nowrap width="47%"><font size="1"><font size="2" style="FONT-FAMILY: wingdings">o</font><font size="3" style="FONT-FAMILY: times new roman">&#160;</font>Smaller reporting
      company</font></td>
          </tr></table>
    </div>
    <div align="center">____________</div>&#160;<br>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" width="100%" style="">
<tr valign="bottom">
            <td colspan="5" width="99%" style="BORDER-BOTTOM: #000000 2pt double; TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-WEIGHT: bold">CALCULATION OF REGISTRATION FEE</font></font> </td>
          </tr><tr valign="bottom">
            <td nowrap width="24%" style="BORDER-RIGHT: #000000 1pt solid">&#160;</td>
            <td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; TEXT-ALIGN: center">
              <div style="DISPLAY: block; TEXT-INDENT: 0pt">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">
                  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><font size="1"><font style="FONT-WEIGHT: bold">Amount to be</font></font> </div>
                </div>
              </div>
            </td>
            <td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; TEXT-ALIGN: center"><font size="1"><font style="FONT-WEIGHT: bold"><font style="FONT-WEIGHT: normal"><font style="FONT-WEIGHT: bold"><font style="FONT-WEIGHT: normal"><font style="FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Proposed Maximum</font><font size="3" style="FONT-WEIGHT: bold">&#160;</font></font></font></font></font></font></font></td>
            <td nowrap width="23%" style="BORDER-RIGHT: #000000 1pt solid; TEXT-ALIGN: center"><font size="1"><font style="FONT-WEIGHT: bold">Proposed
      Maximum</font></font> </td>
            <td width="12%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-WEIGHT: bold">Amount of</font></font> </td>
          </tr><tr valign="bottom">
            <td nowrap width="24%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="1"><font style="FONT-WEIGHT: bold"><font style="FONT-WEIGHT: normal"><font style="FONT-WEIGHT: bold"><font style="FONT-WEIGHT: normal"><font style="FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Title of Securities to be
      Registered</font></font></font></font></font></font></font> </td>
            <td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="1"><font style="FONT-WEIGHT: bold"><font style="FONT-WEIGHT: normal"><font style="FONT-WEIGHT: bold"><font style="FONT-WEIGHT: normal"><font style="FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Registered
      (1)</font></font></font></font></font></font></font> </td>
            <td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="1"><font style="FONT-WEIGHT: bold"><font style="FONT-WEIGHT: normal"><font style="FONT-WEIGHT: bold"><font style="FONT-WEIGHT: normal"><font style="FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Offering Price per
      share</font><font size="3" style="FONT-WEIGHT: bold">&#160;</font></font></font></font></font></font></font></td>
            <td nowrap width="23%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="1"><font style="FONT-WEIGHT: bold">Aggregate
      Offering Price</font></font> </td>
            <td nowrap width="12%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center">
              <div><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="1" style="FONT-WEIGHT: bold">Registration
Fee</font></font></div>
            </td>
          </tr><tr valign="bottom">
            <td nowrap width="24%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: left"><font size="1">Common Stock, par value $.001 per<font size="3"> </font>share&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font> </td>
            <td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="1">287,401 shares</font> </td>
            <td nowrap width="20%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="1">$5.85 (2)<font size="3">&#160;</font></font></td>
            <td nowrap width="23%" style="BORDER-RIGHT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="1">$1,681,296</font> </td>
            <td nowrap width="12%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="1">$119.88 (3)</font> </td>
          </tr></table>
    </div><br>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" style="">
<tr>
            <td nowrap valign="top"><font size="1">(1)</font></td>
            <td nowrap valign="top">
            </td>
            <td valign="top" width="100%"><font size="1">In the event of a stock split,
      stock dividend, or similar transaction involving Geron&#8217;s common stock, in
      order to prevent dilution, the number of shares registered shall
      automatically be increased to cover the additional shares in accordance
      with Rule 416(a) under the Securities Act.</font></td>
          </tr><tr>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">&#160;&#160;&#160;&#160;&#160;</td>
            <td valign="top" width="100%">
            </td>
          </tr><tr>
            <td nowrap valign="top"><font size="1">(2)</font></td>
            <td nowrap valign="top">
            </td>
            <td valign="top" width="100%"><font size="1">The offering price is estimated
      solely for the purpose of calculating the registration fee in accordance
      with Rule 457(c) and based upon the average of the high and low prices
      reported by the Nasdaq Global Market on January 25, 2010.</font></td>
          </tr><tr>
            <td colspan="3" valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top"><font size="1">(3)</font></td>
            <td nowrap valign="top">
            </td>
            <td valign="top" width="100%"><font size="1">Calculated in accordance with
      Rule 457(o) under the Securities Act of
1933.</font></td>
          </tr></table>
    </div><br>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif"><font style="DISPLAY: inline; FONT-WEIGHT: bold">THE REGISTRANT HEREBY
AMENDS THIS REGISTRATION STATEMENT ON SUCH DATE OR DATES AS MAY BE NECESSARY TO
DELAY ITS EFFECTIVE DATE UNTIL THE REGISTRANT SHALL FILE A FURTHER AMENDMENT
WHICH SPECIFICALLY STATES THAT THIS REGISTRATION STATEMENT SHALL HEREAFTER
BECOME EFFECTIVE IN </font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">ACCORDANCE WITH SECTION 8(A) OF THE SECURITIES ACT OF 1933 OR UNTIL THE
REGISTRATION STATEMENT SHALL BECOME EFFECTIVE ON SUCH DATE AS THE SECURITIES AND
EXCHANGE COMMISSION, ACTING PURSUANT TO SAID SECTION 8(A), MAY DETERMINE.
</font></font></div>
    <div align="left">&#160;</div>
    <div align="left">
      <hr align="center" noshade size="2" width="100%">
    </div>
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">THE INFORMATION IN THIS PROSPECTUS IS NOT
COMPLETE AND MAY BE CHANGED. THE SELLING STOCKHOLDER MAY NOT SELL THESE
SECURITIES UNTIL THE REGISTRATION STATEMENT FILED WITH THE SECURITIES AND
EXCHANGE COMMISSION IS EFFECTIVE. </font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">THIS PROSPECTUS IS NOT AN OFFER TO SELL THESE SECURITIES AND IT IS NOT
SOLICITING AN OFFER TO BUY THESE SECURITIES IN ANY STATE WHERE THE OFFER OR SALE
IS NOT </font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">PERMITTED. </font></font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">SUBJECT TO COMPLETION, DATED JANUARY 27, 2010
</font></font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">UP TO 287,401 SHARES OF </font></font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">GERON CORPORATION </font></font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">COMMON STOCK </font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Our common stock is traded on the Nasdaq Global Market under the symbol
&#8220;GERN.&#8221; On January 25, 2010, the closing price of our common stock was $5.71.
</font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">This prospectus relates to the sale of up to 287,401 shares of our common
stock by Samchully Pharm. Co., Ltd. We will not receive any of the proceeds from
the sale of these shares covered by this prospectus. </font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">INVESTING IN OUR COMMON STOCK INVOLVES A HIGH DEGREE OF RISK. SEE &#8220;RISK
FACTORS&#8221; BEGINNING ON PAGE 1. </font></font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">______________________
</font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Neither the Securities and Exchange Commission (the SEC) nor any state
securities commission has approved or disapproved of these securities or passed
upon the accuracy or adequacy of this prospectus. Any representation to the
contrary is a criminal offense. </font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">______________________
</font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">The date of this
prospectus is&#160;&#160;&#160;&#160;&#160;, 2010. </font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">TABLE OF CONTENTS </font></font></div>
    <div>&#160;</div>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
            <td align="left" nowrap width="97%">
            </td>
            <td nowrap width="2%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">Page</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="97%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">ABOUT GERON</font></td>
            <td align="right" nowrap width="2%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">1</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="97%"><font size="2" style="FONT-FAMILY: serif">RISK FACTORS</font></td>
            <td align="right" nowrap width="2%"><font size="2" style="FONT-FAMILY: serif">1</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="97%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">FORWARD-LOOKING STATEMENTS</font></td>
            <td align="right" nowrap width="2%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">16</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="97%"><font size="2" style="FONT-FAMILY: serif">USE OF PROCEEDS</font></td>
            <td align="right" nowrap width="2%"><font size="2" style="FONT-FAMILY: serif">16</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="97%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">DESCRIPTION OF OUR COMMON
STOCK</font></td>
            <td align="right" nowrap width="2%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">16</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="97%"><font size="2" style="FONT-FAMILY: serif">TRANSFER AGENT AND REGISTRAR</font></td>
            <td align="right" nowrap width="2%"><font size="2" style="FONT-FAMILY: serif">16</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="97%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">SELLING STOCKHOLDER</font></td>
            <td align="right" nowrap width="2%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">17</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="97%"><font size="2" style="FONT-FAMILY: serif">PLAN OF DISTRIBUTION</font></td>
            <td align="right" nowrap width="2%"><font size="2" style="FONT-FAMILY: serif">18</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="97%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">VALIDITY OF THE SECURITIES</font></td>
            <td align="right" nowrap width="2%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">19</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="97%"><font size="2" style="FONT-FAMILY: serif">EXPERTS</font></td>
            <td align="right" nowrap width="2%"><font size="2" style="FONT-FAMILY: serif">19</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="97%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">MATERIAL CHANGES</font></td>
            <td align="right" nowrap width="2%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">19</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="97%"><font size="2" style="FONT-FAMILY: serif">LIMITATION ON LIABILITY AND DISCLOSURE OF COMMISSION POSITION
      ON</font></td>
            <td align="left" nowrap width="2%">
            </td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="97%"><font size="2" style="FONT-FAMILY: serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;INDEMNIFICATION FOR
      SECURITIES ACT LIABILITIES</font></td>
            <td align="right" nowrap width="2%"><font size="2" style="FONT-FAMILY: serif">19</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="97%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">WHERE YOU CAN FIND MORE
      INFORMATION</font></td>
            <td align="right" nowrap width="2%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">19</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="97%"><font size="2" style="FONT-FAMILY: serif">DOCUMENTS WE HAVE INCORPORATED BY REFERENCE</font></td>
            <td align="right" nowrap width="2%"><font size="2" style="FONT-FAMILY: serif">20</font></td>
          </tr></table>
    </div><br>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">ABOUT GERON </font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Geron is developing first-in-class biopharmaceuticals for the treatment
of cancer and chronic degenerative diseases, including spinal cord injury, heart
failure and diabetes. We are advancing an anti-cancer drug and a cancer vaccine
that target the enzyme telomerase through multiple clinical trials in different
cancers. </font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">We were incorporated in 1990 under the laws of Delaware. Our principal
executive offices are located at 230 Constitution Drive, Menlo Park, California
94025 and our telephone number is (650) 473-7700.</font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">RISK FACTORS </font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Our business is subject to various risks, including those described
below. You should carefully consider these risk factors, together with all of
the other information included in this Registration Statement. Any of these
risks could materially adversely affect our business, operating results and
financial condition. </font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">RISKS RELATED TO OUR BUSINESS
</font></font></div>
    <div>&#160;</div>
    <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">Our business is at an early stage of
development.</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif"> </font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Our business is at an early stage of development, in that we do not yet
have product candidates in late-stage clinical trials or on the market. We have
begun clinical testing of our lead anti-cancer drug, imetelstat, in patients
with chronic lymphoproliferative diseases, solid tumor malignancies, non-small
cell lung cancer, breast cancer and multiple myeloma. Clinical testing of our
telomerase cancer vaccine, GRNVAC1, in patients with acute myelogenous leukemia
is now closed and we are awaiting the results from this Phase II trial. We have
no other product candidates in clinical testing. Currently, the human clinical
trial of GRNOPC1, our hESC-derived therapy targeted for the treatment of acute
spinal cord injury, has been placed on clinical hold by the U.S. Food and Drug
Administration (FDA). We are in discussions with the FDA to answer its questions
and seek the release of the clinical hold to permit us to proceed with the
clinical trial. Our ability to develop product candidates that progress to and
through clinical trials is subject to our ability to, among other things:
</font></div>
    <ul>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">succeed in our
  research and development efforts; </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">select therapeutic
  compounds or cell therapies for development;</font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">obtain required
  regulatory approvals, including release by the FDA of the clinical hold for
  GRNOPC1;</font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">manufacture product
  candidates; and</font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">collaborate
  successfully with clinical trial sites, academic institutions, physician
  investigators, clinical research organizations and other third parties.
  </font></div>
      </li>
    </ul>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Potential lead drug compounds or other product candidates and
technologies require significant preclinical and clinical testing prior to
regulatory approval in the United States and other countries. Our product
candidates may prove to have undesirable and unintended side effects or other
characteristics adversely affecting their safety, efficacy or cost-effectiveness
that could prevent or limit their commercial use. In addition, our product
candidates may not prove to be more effective for treating disease or injury
than current therapies. Accordingly, we may have to delay or abandon efforts to
research, develop or obtain regulatory approvals to market our product
candidates. In addition, we will need to determine whether any of our potential
products can be manufactured in commercial quantities at an acceptable cost. Our
research and development efforts may not result in a product that can be or will
be approved by regulators or marketed successfully. Competitors may have
proprietary rights which prevent us from developing and marketing our products
or they may sell similar, superior or lower-cost products. Because of the
significant scientific, regulatory and commercial milestones that must be
reached for any of our development programs or product candidates to be
successful, any program or product candidate may be abandoned, even after we
have expended significant resources, such as our investments in telomerase
technology, human embryonic stem cells, imetelstat, GRNVAC1 and GRNOPC1, which
could adversely affect our business and cause a sharp drop in our stock price.
</font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">1 </font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The science and technology of telomere biology and telomerase and human
embryonic stem cells are relatively new. There is no precedent for the
successful commercialization of therapeutic product candidates based on our
technologies. These development programs are therefore particularly risky. In
addition, we, our licensees or our collaborators must undertake significant
research and development activities to develop product candidates based on our
technologies, which will require additional funding and may take years to
accomplish, if ever. </font></div>
    <div>&#160;</div>
    <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">Restrictions on the use of human embryonic stem cells, political
commentary and the ethical and social implications of research involving human
embryonic stem cells could prevent us from developing or gaining acceptance for
commercially viable products based upon such stem cells and adversely affect the
market price of our common stock.</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif"> </font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Some of our most important programs involve the use of stem cells that
are derived from human embryos. The use of human embryonic stem cells gives rise
to ethical and social issues regarding the appropriate use of these cells. Our
research related to human embryonic stem cells may become the subject of adverse
commentary or publicity, which could significantly harm the market price for our
common stock. </font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Some political and religious groups have voiced opposition to our
technology and practices. We use stem cells derived from human embryos that had
been created for </font><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">in vitro</font></font><font size="2" style="FONT-FAMILY: serif"> fertilization procedures but were no longer
desired or suitable for that use and were donated with appropriate informed
consent. Many research institutions, including some of our scientific
collaborators, have adopted policies regarding the ethical use of human
embryonic tissue. These policies may have the effect of limiting the scope of
research conducted using human embryonic stem cells, thereby impairing our
ability to conduct research in this field. </font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Furthermore, on March 9, 2009, President Obama issued Executive Order
13505, entitled &#8220;Removing Barriers to Responsible Scientific Research Involving
Human Stem Cells&#8221; (the Executive Order). As a result, in July 2009 the Secretary
of Health and Human Services, through the Director of the National Institutes of
Health (NIH), issued new guidelines relating to human stem cell research. Under
the new guidelines, federal funding is allowed for research using human
embryonic stem cells derived from embryos created by </font><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">in vitro</font></font><font size="2" style="FONT-FAMILY: serif">
fertilization for reproductive purposes, but are no longer needed for that
purpose. Strict ethics requirements must be followed to qualify new stem cell
lines, including extensive documentation around consent forms and written
policies and procedures. Certain states are considering enacting, or already
have enacted, legislation relating to stem cell research, including California,
whose voters approved Proposition 71 to provide state funds for stem cell
research in November 2004. In the United Kingdom and other countries, the use of
embryonic or fetal tissue in research (including the derivation of human
embryonic stem cells) is regulated by the government, whether or not the
research involves government funding. </font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Government-imposed restrictions with respect to use of embryos or human
embryonic stem cells in research and development could have a material adverse
effect on us, including: </font></div>
    <ul>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">harming our ability to
  establish critical partnerships and collaborations;</font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">delaying or preventing
  progress in our research, product development or clinical
testing;</font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">preventing
  commercialization of therapies derived from human embryonic stem cells;
  and</font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">as a result of the
  potential adverse effects above, causing a decrease in the price of our stock.
  </font></div>
      </li>
    </ul>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">2 </font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">RISKS RELATED TO OUR FINANCIAL POSITION AND
NEED FOR ADDITIONAL FINANCING </font></font></div>
    <div>&#160;</div>
    <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">We have a history of losses and anticipate future losses, and continued
losses could impair our ability to sustain operations.</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif"> </font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">We have incurred operating losses every year since our operations began
in 1990. As of September 30, 2009, our accumulated deficit was approximately
$559 million. Losses have resulted principally from costs incurred in connection
with our research and development activities and from general and administrative
costs associated with our operations. We expect to incur additional operating
losses and, as our development efforts and clinical testing activities continue,
our operating losses may increase in size. </font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Substantially all of our revenues to date have been research support
payments under collaboration agreements and revenues from our licensing
arrangements. We may be unsuccessful in entering into any new corporate
collaboration or license agreement that results in revenues. We do not expect
that the revenues generated from these arrangements will be sufficient alone to
continue or expand our research or development activities and otherwise sustain
our operations. </font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">While we receive royalty revenue from licenses, we do not currently
expect to receive sufficient royalty revenues from these licenses to
independently sustain our operations. Our ability to continue or expand our
research and development activities and otherwise sustain our operations is
dependent on our ability, alone or with others, to, among other things,
manufacture and market therapeutic products. </font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">We also expect to experience negative cash flow for the foreseeable
future as we fund our operating losses and capital expenditures. This will
result in decreases in our working capital, total assets and stockholders&#8217;
equity, which may not be offset by future financings. We will need to generate
significant revenues to achieve profitability. We may not be able to generate
these revenues, and we may never achieve profitability. Our failure to achieve
profitability could negatively impact the market price of our common stock. Even
if we do become profitable, we cannot assure you that we would be able to
sustain or increase profitability on a quarterly or annual basis. </font></div>
    <div>&#160;</div>
    <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">We will need additional capital to conduct our operations and develop our
product candidates, and our ability to obtain the necessary funding is
uncertain. </font></font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">We will require substantial capital resources in order to conduct our
operations and develop our product candidates, and we cannot assure you that our
existing capital resources, interest income and equipment financing arrangement
will be sufficient to fund future planned operations. The timing and degree of
any future capital requirements will depend on many factors, including:
</font></div>
    <ul>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">the accuracy of the
  assumptions underlying our estimates for our capital needs for the 2010 fiscal
  year and beyond;</font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">the magnitude and
  scope of our research and development programs; </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">the progress we make
  in our research and development programs, preclinical development and clinical
  trials; </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">our ability to
  establish, enforce and maintain strategic arrangements for research,
  development, clinical testing, manufacturing and marketing;</font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">the number and type of
  product candidates that we pursue;</font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">the time and costs
  involved in obtaining regulatory approvals and clearances; and </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">the costs involved in
  preparing, filing, prosecuting, maintaining, defending and enforcing patent
  claims. </font></div>
      </li>
    </ul>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">We do not have any committed sources of capital. Additional financing
through strategic collaborations, public or private equity financings, capital
lease transactions or other financing sources may not be available on acceptable
terms, or at all. The receptivity of the public and private equity markets to
proposed financings is substantially affected by the general economic, market
and political climate and by <font size="2" style="FONT-FAMILY: serif">other
factors which are unpredictable and over which we have no control. Additional
equity financings, if we obtain them, could result in significant dilution to
stockholders. Further, in the event that additional funds are obtained through
arrangements with collaborative partners, these arrangements may require us to
relinquish rights to some of our technologies, product candidates or proposed
products that we would otherwise seek to develop and commercialize ourselves. If
sufficient capital is not available, we may be required to delay, reduce the
scope of or eliminate one or more of our programs, any of which could have a
material adverse effect on our business. </font></font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3</font> </font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">RISKS RELATED TO CLINICAL AND
COMMERCIALIZATION ACTIVITIES </font></font></div>
    <div>&#160;</div>
    <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">Delays in the commencement of clinical testing of our current and
potential product candidates could result in increased costs to us and delay our
ability to generate revenues.</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif"> </font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The commencement of clinical trials can be delayed for a variety of
reasons, including delays in: </font></div>
    <ul>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">demonstrating
  sufficient safety and efficacy to obtain regulatory clearance to commence a
  clinical trial; </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">manufacturing
  sufficient quantities or producing drugs meeting our quality standards of a
  product candidate; </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">obtaining approval of
  an Investigational New Drug (IND) application or proposed trial design from
  the FDA; </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">reaching agreement on
  acceptable terms with our collaborators on all aspects of the clinical trial,
  including the contract research organizations (CROs) and the trial sites; and
  <br>&#160;</font></div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">obtaining
  institutional review board approval to conduct a clinical trial at a
  prospective site. </font></div>
      </li>
    </ul>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">In addition, clinical trials may be delayed due to insufficient patient
enrollment, which is a function of many factors, including the size and nature
of the patient population, the nature of the protocol, the proximity of patients
to clinical sites, the availability of effective treatments for the relevant
disease, and the eligibility criteria for the clinical trial. Delays in
commencing clinical testing of our product candidates could have a material
adverse effect on our business. </font></div>
    <div>&#160;</div>
    <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">We do not have experience as a company conducting large-scale clinical
trials, or in other areas required for the successful commercialization and
marketing of our product candidates.</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif"> </font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">We have no experience as a company in conducting large-scale, late stage
clinical trials. We cannot be certain that planned clinical trials will begin or
be completed on time, if at all. Large-scale trials would require either
additional financial and management resources, or reliance on third-party
clinical investigators, CROs or consultants. Relying on third-party clinical
investigators or CROs may force us to encounter delays that are outside of our
control. Any such delays could have a material adverse effect on our business.
</font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">We also do not currently have marketing and distribution capabilities for
our product candidates. Developing an internal sales and distribution capability
would be an expensive and time-consuming process. We may enter into agreements
with third parties that would be responsible for marketing and distribution.
However, these third parties may not be capable of successfully selling any of
our product candidates. The inability to commercialize and market our product
candidates could materially adversely affect our business. </font></div>
    <div>&#160;</div>
    <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">Obtaining regulatory approvals to market our product candidates in the
United States and other countries is a costly and lengthy process and we cannot
predict whether or when we will be permitted to commercialize our product
candidates.</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif"> </font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Federal, state and local governments in the United States and governments
in other countries have significant regulations in place that govern many of our
activities and may prevent us from creating commercially viable products from
our discoveries. The regulatory process, particularly for <font size="2" style="FONT-FAMILY: serif">biopharmaceutical product candidates like
ours, is uncertain, can take many years and requires the expenditure of
substantial resources. </font></font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">4 </font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Our potential product candidates will require extensive preclinical and
clinical testing prior to submission of any regulatory application to commence
commercial sales. In particular, human pharmaceutical therapeutic product
candidates are subject to rigorous requirements of the FDA in the United States
and similar health authorities in other countries in order to demonstrate safety
and efficacy. Data obtained from preclinical and clinical activities is
susceptible to varying interpretations that could delay, limit or prevent
regulatory agency approvals. In addition, delays or rejections may be
encountered as a result of changes in regulatory agency policy during the period
of product development and/or the period of review of any application for
regulatory agency approval for a product candidate. </font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Any product candidate that we or our collaborators develop must receive
all relevant regulatory agency approvals before it may be marketed in the United
States or other countries. Obtaining regulatory approval is a lengthy, expensive
and uncertain process. Because certain of our product candidates involve the
application of new technologies or are based upon a new therapeutic approach,
they may be subject to substantial additional review by various government
regulatory authorities, and, as a result, the process of obtaining regulatory
approvals for them may proceed more slowly than for product candidates based
upon more conventional technologies. </font></div>
    <div>&#160;</div>
    <div align="left"><font size="2" style="FONT-FAMILY: serif"><font size="3">&#160;&#160;&#160;&#160;&#160;</font>Delays in obtaining regulatory
agency approvals could: </font></div>
    <ul>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">significantly harm the
  marketing of any products that we or our collaborators develop;</font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">impose costly
  procedures upon our activities or the activities of our
  collaborators;</font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">diminish any
  competitive advantages that we or our collaborators may attain; or
  </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">adversely affect our
  ability to receive royalties and generate revenues and profits.
  </font></div>
      </li>
    </ul>
    <div align="left"><font size="2" style="FONT-FAMILY: serif">Even if we commit the
necessary time and resources, the required regulatory agency approvals may not
be obtained for any product candidates developed by us or in collaboration with
us. If we obtain regulatory agency approval for a new product, this approval may
entail limitations on the indicated uses for which it can be marketed that could
limit the potential commercial use of the product. </font></div>
    <div>&#160;</div>
    <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">Failure to achieve continued compliance with government regulation over
approved products could delay or halt commercialization of our products.
</font></font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Approved products and their manufacturers are subject to continual
review, and discovery of previously unknown problems with a product or its
manufacturer may result in restrictions on the product or manufacturer,
including withdrawal of the product from the market. The sale by us or our
collaborators of any commercially viable product will be subject to government
regulation from several standpoints, including the processes of:</font></div>
    <ul>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">manufacturing;
  </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">advertising and
  promoting; </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">selling and marketing;
  </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">labeling; and
  </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">distribution.
  </font></div>
      </li>
    </ul>
    <div align="left"><font size="2" style="FONT-FAMILY: serif">If, and to the extent
that, we are unable to comply with these regulations, our ability to earn
revenues will be materially and negatively impacted. </font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Failure to comply with regulatory requirements can result in severe civil
and criminal penalties, including but not limited to: </font></div>
    <ul>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">recall or seizure of
  products; </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">injunction against the
  manufacture, distribution and sales and marketing of products; and
  </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif"><font size="2" style="FONT-FAMILY: serif">criminal prosecution.
  </font></font></div>
      </li>
    </ul>
    <div align="left"><font size="2" style="FONT-FAMILY: serif">The imposition of any of
these penalties or other commercial limitations could significantly impair our
business, financial condition and results of operations. </font></div>
    <div>&#160;</div>
    <div align="center"><font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">5</font> </div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">RISKS RELATED TO PROTECTING OUR INTELLECTUAL
PROPERTY </font></font></div>
    <div>&#160;</div>
    <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">Impairment of our intellectual property rights may adversely affect the
value of our technologies and product candidates and limit our ability to pursue
their development.</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif"> </font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Protection of our proprietary technology is critically important to our
business. Our success will depend in part on our ability to obtain and enforce
our patents and maintain trade secrets, both in the United States and in other
countries. Further, our patents may be challenged, invalidated or circumvented,
and our patent rights may not provide proprietary protection or competitive
advantages to us. In the event that we are unsuccessful in obtaining and
enforcing patents, our business would be negatively impacted.</font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The patent positions of pharmaceutical and biopharmaceutical companies,
including ours, are highly uncertain and involve complex legal and technical
questions. In particular, legal principles for biotechnology patents in the
United States and in other countries are evolving, and the extent to which we
will be able to obtain patent coverage to protect our technology, or enforce
issued patents, is uncertain. In the United States, recent court decisions in
patent cases as well as proposed legislative changes to the patent system only
exacerbate this uncertainty. Furthermore, significant amendments to the
regulations governing the process of obtaining patents were proposed in a new
rule package by the United States Patent and Trademark Office (the Patent
Office) in 2007. The proposed new rules were widely regarded as detrimental to
the interests of biotechnology and pharmaceutical companies. The implementation
of the rule package was blocked by a court injunction requested by a
pharmaceutical company. The Patent Office challenged the court decision through
an appeal to the U.S. Court of Appeals for the Federal Circuit (CAFC), but the
appeal was dismissed in November 2009, after the Patent Office changed course
and rescinded the proposed new rules. At this point we do not know whether the
Patent Office will attempt to introduce new rules to replace those that were
recently withdrawn or whether any such new rules would also be
challenged.</font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">In Europe, the European Patent Convention prohibits the granting of
European patents for inventions that concern &#8220;uses of human embryos for
industrial or commercial purposes.&#8221; The European Patent Office (EPO) was earlier
interpreting this prohibition broadly, and applying it to reject claims in any
patent application that pertained to hESCs. An early patent application filed by
the Wisconsin Alumni Research Foundation (WARF) with claims covering the
original isolation of hESCs was appealed as a test case, and examination of
other hESC patent applications was suspended while that case was heard. In
November 2008, the EPO Enlarged Board of Appeals held that the claims in the
WARF application were unpatentable. Geron holds a worldwide license under this
patent family, and since the decision is not subject to further appeal, this
WARF patent family will not afford protection to Geron&#8217;s hESC-based product
candidates in Europe. However, the reason given by the EPO for the decision was
narrowly focused: the EPO found the claims objectionable on the basis that at
the time that WARF filed the patent application it was necessary to use a human
embryo to obtain hESCs since no cell lines were available. In contrast, the
hESCs that we use, and which we employed in the technologies claimed in our own
European patent applications, were sourced from established hESC lines.
Consequently, the decision in the WARF case does not directly address the
patentability of the subject matter in our filings. The EPO has recently
restarted examination of hESC patent applications, but is being inconsistent in
its application of the WARF decision to these later filed cases. At this time,
we do not know whether or to what extent we will be able to obtain patent
protection for our hESC technologies in Europe. If we are unable to protect our
inventions related to hESCs in Europe, our business would be negatively
impacted.</font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">6 </font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">Challenges to our patent rights can result in costly and time-consuming
legal proceedings that may prevent or limit development of our product
candidates.</font></font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Publication of discoveries in scientific or patent literature tends to
lag behind actual discoveries by at least several months and sometimes several
years. Therefore, the persons or entities that we or our licensors name as
inventors in our patents and patent applications may not have been the first to
invent the inventions disclosed in the patent applications or patents, or the
first to file patent applications for these inventions. As a result, we may not
be able to obtain patents for discoveries that we otherwise would consider
patentable and that we consider to be extremely significant to our future
success. </font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Where several parties seek U.S. patent protection for the same
technology, the Patent Office may declare an interference proceeding in order to
ascertain the party to which the patent should be issued. Patent interferences
are typically complex, highly contested legal proceedings, subject to appeal.
They are usually expensive and prolonged, and can cause significant delay in the
issuance of patents. Moreover, parties that receive an adverse decision in an
interference can lose important patent rights. Our pending patent applications,
or our issued patents, may be drawn into interference proceedings which may
delay or prevent the issuance of patents, or result in the loss of issued patent
rights. By way of example, we are currently a party to an interference
proceeding that involves patent filings for making endoderm cells from hESCs. We
requested that the Patent Office declare this interference after Novocell Inc.
was granted patent claims that conflict with subject matter we filed in an
earlier patent application. The interference proceeding will determine whether
we or Novocell are entitled to such patent claims. Since this interference is
still ongoing, we cannot predict what the outcome will be. </font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Outside of the United States, certain jurisdictions, such as Europe, New
Zealand and Australia, permit oppositions to be filed against the granting of
patents. Because our intent is to commercialize products internationally,
securing both proprietary protection and freedom to operate outside of the
United States is important to our business. We are involved in both opposing the
grant of patents to others through such opposition proceedings and in defending
our patent applications against oppositions filed by others. For example, we
have been involved in two patent oppositions before the EPO with a Danish
company, Pharmexa. Pharmexa (which acquired the Norwegian company GemVax in
2005) was developing a cancer vaccine that employs a short telomerase peptide to
induce an immune response against telomerase and was conducting a Phase III
clinical trial. Pharmexa obtained a European patent with broad claims to the use
of telomerase vaccines for the treatment of cancer, and Geron opposed that
patent in 2004. In 2005, the Opposition Division (OD) of the EPO revoked the
claims originally granted to Pharmexa, but permitted Pharmexa to add new,
narrower claims limited to five specific small peptide fragments of telomerase.
The decision was appealed to the Technical Board of Appeals (TBA). In August
2007, the TBA ruled, consistent with the decision of the OD, that Pharmexa was
not entitled to the originally granted broad claims but was only entitled to the
narrow claims limited to the five small peptides. </font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">In parallel, Pharmexa opposed a European patent held by Geron, the claims
of which cover many facets of human telomerase, including the use of telomerase
peptides in cancer vaccines. In June 2006, the OD of the EPO revoked three of
the granted claims in Geron&#8217;s patent, specifically the three claims covering
telomerase peptide cancer vaccines. We have appealed that decision to the TBA,
and that appeal is still pending. Because this appeal is ongoing, the outcome
cannot be determined at this time. We are also seeking to obtain patent coverage
in Europe for telomerase peptides through a European divisional patent
application. If and when those patent claims are issued, they too may be subject
to an opposition proceeding. In late 2008, Pharmexa reported that it sold its
telomerase vaccine program to a Korean company, KAEL Co. Ltd. </font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">European opposition and appeal proceedings can take several years to
reach final decision. The oppositions discussed above reflect the complexity of
the patent landscape in which we operate, and illustrate the risks and
uncertainties. We are also currently involved in other patent opposition
proceedings in Europe and Australia. </font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Patent opposition proceedings are not currently available in the U.S.
patent system, but legislation has been proposed to introduce them. However,
issued U.S. patents can be reexamined by the Patent Office at <font size="2" style="FONT-FAMILY: serif">the request of a third party. Patents owned or
licensed by Geron may therefore be subject to reexamination. As in any legal
proceeding, the outcome of patent reexaminations is uncertain, and a decision
adverse to our interests could result in the loss of valuable patent rights.
</font></font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">7 </font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">In July 2006, requests were filed on behalf of the Foundation for
Taxpayer and Consumer Rights (now renamed as &#8220;Consumer Watchdog&#8221;) for
reexamination of three issued U.S. patents owned by WARF and relating to human
embryonic stem cells. These three patents (U.S. Patent Nos. 5,843,780, 6,200,806
and 7,029,913), which are the U.S. equivalents of the European WARF case
discussed above, are licensed to Geron pursuant to a January 2002 license
agreement with WARF. The license agreement conveys exclusive rights to Geron
under the WARF patents for the development and commercialization of therapeutics
based on neural cells, cardiomyocytes and pancreatic islet cells, derived from
human embryonic stem cells, as well as nonexclusive rights for other product
opportunities. In October 2006, the Patent Office initiated the reexamination
proceedings. After initially rejecting the patent claims, the Patent Office
recently issued decisions in all three cases upholding the patentability of the
claims. The decisions to uphold the 5,843,780 and 6,200,806 patents are final
and not subject to further appeal. Consumer Watchdog appealed the decision on
the 7,029,913 patent. We cooperated with WARF in these reexamination actions and
expect that WARF will continue to vigorously defend its patent position in this
appeal. While the decisions in these reexamination proceedings to date have all
been favorable to our patent position, the outcome of the appeal or of any
future reexamination proceedings cannot be determined at this time. Reduction or
loss of claim scope in these WARF embryonic stem cell patents would negatively
impact Geron&#8217;s proprietary position in this technology. </font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">As more groups become engaged in scientific research and product
development in the areas of telomerase biology and embryonic stem cells, the
risk of our patents being challenged through patent interferences, oppositions,
reexaminations or other means will likely increase. Challenges to our patents
through these procedures can be extremely expensive and time-consuming, even if
the outcome is favorable to us. An adverse outcome in a patent dispute could
severely harm our business by:</font></div>
    <ul>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">losing patent rights
  in the relevant jurisdiction(s); </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">subjecting us to
  litigation, or otherwise preventing us from commercializing potential products
  in the relevant jurisdiction(s); </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">requiring us to obtain
  licenses to the disputed patents; </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">forcing us to cease
  using the disputed technology; or </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">requiring us to
  develop or obtain alternative technologies. </font></div>
      </li>
    </ul>
    <div align="left"><font size="2" style="FONT-FAMILY: serif">Furthermore, if such
challenges to our patent rights are not resolved promptly in our favor, our
existing business relationships may be jeopardized and we could be delayed or
prevented from entering into new collaborations or from commercializing certain
products, which could materially harm our business. </font></div>
    <div>&#160;</div>
    <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">If we fail to meet our obligations under license agreements, we may lose
our rights to key technologies on which our business
depends.</font></font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Our business depends on several critical technologies that are based in
part on patents licensed from third parties. Those third-party license
agreements impose obligations on us, such as payment obligations and obligations
to diligently pursue development of commercial products under the licensed
patents. If a licensor believes that we have failed to meet our obligations
under a license agreement, the licensor could seek to limit or terminate our
license rights, which could lead to costly and time-consuming litigation and,
potentially, a loss of the licensed rights. During the period of any such
litigation our ability to carry out the development and commercialization of
potential products could be significantly and negatively affected. If our
license rights were restricted or ultimately lost, our ability to continue our
business based on the affected technology platform would be severely adversely
affected. </font></div>
    <div>&#160;</div>
    <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">We may be subject to litigation that will be costly to defend or pursue
and uncertain in its outcome.</font></font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Our business may bring us into conflict with our licensees, licensors, or
others with whom we have contractual or other business relationships, or with
our competitors or others whose interests differ from <font size="2" style="FONT-FAMILY: serif">ours. If we are unable to resolve those
conflicts on terms that are satisfactory to all parties, we may become involved
in litigation brought by or against us. That litigation is likely to be
expensive and may require a significant amount of management&#8217;s time and
attention, at the expense of other aspects of our business. The outcome of
litigation is always uncertain, and in some cases could include judgments
against us that require us to pay damages, enjoin us from certain activities, or
otherwise affect our legal or contractual rights, which could have a significant
adverse effect on our business. </font></font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">8 </font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">We may be subject to infringement claims that are costly to defend, and
which may limit our ability to use disputed technologies and prevent us from
pursuing research and development or commercialization of potential
products.</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif"> </font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Our commercial success depends significantly on our ability to operate
without infringing patents and the proprietary rights of others. Our
technologies may infringe the patents or proprietary rights of others. In
addition, we may become aware of discoveries and technology controlled by third
parties that are advantageous to our programs. In the event our technologies
infringe the rights of others or we require the use of discoveries and
technology controlled by third parties, we may be prevented from pursuing
research, development or commercialization of potential products or may be
required to obtain licenses to those patents or other proprietary rights or
develop or obtain alternative technologies. We have obtained licenses from
several universities and companies for technologies that we anticipate
incorporating into our potential products, and we initiate negotiation for
licenses to other technologies as the need or opportunity arises. We may not be
able to obtain a license to patented technology on commercially favorable terms,
or at all. If we do not obtain a necessary license, we may need to redesign our
technologies or obtain rights to alternate technologies, the research and
adoption of which could cause delays in product development. In cases where we
are unable to license necessary technologies, we could be prevented from
developing certain potential products. Our failure to obtain alternative
technologies or a license to any technology that we may require to research,
develop or commercialize our product candidates would significantly and
negatively affect our business.</font></div>
    <div>&#160;</div>
    <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">Much of the information and know-how that is critical to our business is
not patentable and we may not be able to prevent others from obtaining this
information and establishing competitive enterprises.</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif"> </font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">We sometimes rely on trade secrets to protect our proprietary technology,
especially in circumstances in which we believe patent protection is not
appropriate or available. We attempt to protect our proprietary technology in
part by confidentiality agreements with our employees, consultants,
collaborators and contractors. We cannot assure you that these agreements will
not be breached, that we would have adequate remedies for any breach, or that
our trade secrets will not otherwise become known or be independently discovered
by competitors, any of which would harm our business significantly.
</font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">RISKS RELATED TO OUR RELATIONSHIPS WITH THIRD
PARTIES </font></font></div>
    <div>&#160;</div>
    <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">We depend on other parties to help us develop, manufacture and test our
product candidates, and our ability to develop and commercialize potential
products may be impaired or delayed if collaborations are
unsuccessful.</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif"> </font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Our strategy for the development, clinical testing and commercialization
of our product candidates requires that we enter into collaborations with
corporate partners, licensors, licensees and others. We are dependent upon the
subsequent success of these other parties in performing their respective
responsibilities and the continued cooperation of our partners. By way of
examples: Merck is developing cancer vaccines targeted to telomerase other than
dendritic cell-based vaccines; Sienna is developing cancer diagnostics using our
telomerase technology; and GE Healthcare is developing cell-based assays using
cells derived from our human embryonic stem cells. Our collaborators may not
cooperate with us or perform their obligations under our agreements with them.
We cannot control the amount and timing of our collaborators&#8217; resources that
will be devoted to activities related to our collaborative agreements with them.
Our collaborators may choose to pursue existing or alternative technologies in
preference to those being developed in collaboration with us. </font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">9 </font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Under agreements with other parties, we may rely significantly on them
to, among other activities: </font></div>
    <ul>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">conduct research and
  development activities in conjunction with us; </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">design and conduct
  advanced clinical trials in the event that we reach clinical trials;
  </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">fund research and
  development activities with us; </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">manage and license
  certain patent rights; </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">pay us fees upon the
  achievement of milestones; and </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">market with us any
  commercial products that result from our collaborations.</font></div>
      </li>
    </ul>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The development and commercialization of potential products will be
delayed if collaborators or other partners fail to conduct these activities in a
timely manner or at all. In addition, our collaborators could terminate their
agreements with us and we may not receive any development or milestone payments.
If we do not achieve milestones set forth in the agreements, or if our
collaborators breach or terminate their collaborative agreements with us, our
business may be materially harmed. </font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">We also rely on other companies for certain process development,
manufacturing or other technical scientific work, especially with respect to our
imetelstat, GRNVAC1, GRNOPC1 and GRNCM1 programs. We have contracts with these
companies that specify the work to be done and results to be achieved, but we do
not have direct control over their personnel or operations. If these companies
do not perform the work which they were assigned, our ability to develop or
manufacture our product candidates could be significantly harmed. </font></div>
    <div>&#160;</div>
    <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">Our reliance on the activities of our non-employee consultants, research
institutions, and scientific contractors, whose activities are not wholly within
our control, may lead to delays in development of our product
candidates.</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif"> </font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">We rely extensively upon and have relationships with scientific
consultants at academic and other institutions, some of whom conduct research at
our request, and other consultants who assist us in formulating our research and
development and clinical strategy or other matters. These consultants are not
our employees and may have commitments to, or consulting or advisory contracts
with, other entities that may limit their availability to us. We have limited
control over the activities of these consultants and, except as otherwise
required by our collaboration and consulting agreements, can expect only limited
amounts of their time to be dedicated to our activities. </font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">In addition, we have formed research collaborations with many academic
and other research institutions throughout the world. These research facilities
may have commitments to other commercial and noncommercial entities. We have
limited control over the operations of these laboratories and can expect only
limited amounts of their time to be dedicated to our research goals.
</font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">If any of these third parties are unable or refuse to contribute to
projects on which we need their help, our ability to generate advances in our
technologies and develop our product candidates could be significantly harmed.
</font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">RISKS RELATED TO COMPETITIVE FACTORS
</font></font></div>
    <div>&#160;</div>
    <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">The loss of key personnel could slow our ability to conduct research and
develop product candidates.</font></font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Our future success depends to a significant extent on the skills,
experience and efforts of our executive officers and key members of our
scientific staff. We face intense competition for qualified individuals from
numerous pharmaceutical, biopharmaceutical and biotechnology companies, as well
as academic and other research institutions. We may be unable to retain our
current personnel or attract or assimilate other highly qualified management and
scientific personnel in the future on acceptable terms. The loss of any or all
of these individuals could harm our business and might significantly delay or
prevent the achievement of research, development or business objectives.
</font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">10 </font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">Our product candidates are likely to be expensive to manufacture, and
they may not be profitable if we are unable to significantly reduce the costs to
manufacture them.</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif"> </font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Our telomerase inhibitor compound, imetelstat, and our hESC-based
products are likely to be more expensive to manufacture than most other drugs
currently on the market today. Oligonucleotides are relatively large molecules
with complex chemistry, and the cost of manufacturing an oligonucleotide like
imetelstat is greater than the cost of making most small-molecule drugs. Our
present manufacturing processes are conducted at a modest scale and we hope to
substantially reduce manufacturing costs through process improvements, as well
as through scale increases. If we are not able to do so, however, and, depending
on the pricing of the potential product, the profit margin on the telomerase
inhibitor may be significantly less than that of most drugs on the market today.
</font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Our manufacturing processes for differentiated cells from hESCs are
conducted at a small scale and at a high cost per unit measure. The cell-based
therapies we are developing based on hESCs will probably require large
quantities of cells. We continue to develop processes to scale up production of
the cells in a cost-effective way. We may not be able to charge a high enough
price for any cell therapy product we develop, even if it is safe and effective,
to make a profit. If we are unable to realize significant profits from our
potential product candidates, our business would be materially harmed.
</font></div>
    <div>&#160;</div>
    <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">Some of our competitors may develop technologies that are superior to or
more cost-effective than ours, which may impact the commercial viability of our
technologies and which may significantly damage our ability to sustain
operations.</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif"> </font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The pharmaceutical and biotechnology industries are intensely
competitive. Other pharmaceutical and biotechnology companies and research
organizations currently engage in or have in the past engaged in efforts related
to the biological mechanisms that are the focus of our programs in oncology and
human embryonic stem cell therapies, including the study of telomeres,
telomerase and human embryonic stem cells. In addition, other products and
therapies that could compete directly with the product candidates that we are
seeking to develop and market currently exist or are being developed by
pharmaceutical and biopharmaceutical companies and by academic and other
research organizations. </font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Many companies are developing alternative therapies to treat cancer and,
in this regard, are competitors of ours. According to public data from the FDA
and NIH, there are more than 200 approved anti-cancer products on the market in
the United States, and several thousand in clinical development. </font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Many of the pharmaceutical companies developing and marketing these
competing products (including GlaxoSmithKline, Bristol-Myers Squibb Company and
Novartis AG, among others) have significantly greater financial resources and
expertise than we do in: </font></div>
    <ul>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">research and
  development; </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">manufacturing;
  </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">preclinical and
  clinical testing; </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">obtaining regulatory
  approvals; and </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">marketing and
  distribution.</font></div>
      </li>
    </ul>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Smaller companies may also prove to be significant competitors,
particularly through collaborative arrangements with large and established
companies. Academic institutions, government agencies and other public and
private research organizations may also conduct research, seek patent protection
and establish collaborative arrangements for research, clinical development and
marketing of products similar to ours. These companies and institutions compete
with us in recruiting and retaining qualified scientific and management
personnel as well as in acquiring technologies complementary to our programs.
</font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">In addition to the above factors, we expect to face competition in the
following areas: </font></div>
    <ul>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">product efficacy and
  safety;</font></div>
      </li>
    </ul>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">11 </font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <ul>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">the timing and scope
  of regulatory consents; </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">availability of
  resources; </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">reimbursement
  coverage; </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">price; and
  </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">patent position,
  including potentially dominant patent positions of
others.</font></div>
      </li>
    </ul>
    <div align="left"><font size="2" style="FONT-FAMILY: serif">As a result of the
foregoing, our competitors may develop more effective or more affordable
products, or achieve earlier patent protection or product commercialization than
we do. Most significantly, competitive products may render any product
candidates that we develop obsolete, which would negatively impact our business
and ability to sustain operations. </font></div>
    <div>&#160;</div>
    <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">To be successful, our product candidates must be accepted by the health
care community, which can be very slow to adopt or unreceptive to new
technologies and products.</font></font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Our product candidates and those developed by our collaborators, if
approved for marketing, may not achieve market acceptance since hospitals,
physicians, patients or the medical community in general may decide not to
accept and utilize these products. The product candidates that we are attempting
to develop represent substantial departures from established treatment methods
and will compete with a number of conventional drugs and therapies manufactured
and marketed by major pharmaceutical companies. The degree of market acceptance
of any of our developed potential products will depend on a number of factors,
including: </font></div>
    <ul>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">our establishment and
  demonstration to the medical community of the clinical efficacy and safety of
  our product candidates; </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">our ability to create
  products that are superior to alternatives currently on the market;
  </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">our ability to
  establish in the medical community the potential advantage of our treatments
  over alternative treatment methods; and </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">reimbursement policies
  of government and third-party payors. </font></div>
      </li>
    </ul>
    <div align="left"><font size="2" style="FONT-FAMILY: serif">If the health care
community does not accept our potential products for any of the foregoing
reasons, or for any other reason, our business would be materially harmed.
</font></div>
    <div>&#160;</div>
    <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">If we fail to obtain acceptable prices or adequate reimbursement for our
product candidates, the use of our potential products could be severely
limited.</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif"> </font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Our ability to successfully commercialize our product candidates will
depend significantly on our ability to obtain acceptable prices and the
availability of reimbursement to the patient from third-party payors.
Significant uncertainty exists as to the reimbursement status of newly-approved
health care products, including pharmaceuticals. If our potential products are
not considered cost-effective or if we fail to generate adequate third-party
reimbursement for the users of our potential products and treatments, then we
may be unable to maintain price levels sufficient to realize an appropriate
return on our investment for potential products currently in development. In
both U.S. and other markets, sales of our potential products, if any, will
depend in part on the availability of reimbursement from third-party payors,
examples of which include: </font></div>
    <ul>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">government health
  administration authorities; </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">private health
  insurers; </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">health maintenance
  organizations; and </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">pharmacy benefit
  management companies. </font></div>
      </li>
    </ul>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Both federal and state governments in the United States and governments
in other countries continue to propose and pass legislation designed to contain
or reduce the cost of health care. Legislation and regulations affecting the
pricing of pharmaceuticals and other medical products may be adopted before any
of our potential products are approved for marketing. Cost control initiatives
could decrease the price that we receive for any product candidate we may
develop in the future. In addition, third-party payors are <font size="2" style="FONT-FAMILY: serif">increasingly challenging the price and
cost-effectiveness of medical products and services and any of our potential
products may ultimately not be considered cost-effective by these third parties.
Any of these initiatives or developments could materially harm our business.
</font></font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">12 </font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">RISKS RELATED TO ENVIRONMENTAL AND PRODUCT
LIABILITY </font></font></div>
    <div>&#160;</div>
    <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">Our activities involve hazardous materials, and improper handling of
these materials by our employees or agents could expose us to significant legal
and financial penalties.</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif"> </font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Our research and development activities involve the controlled use of
hazardous materials, chemicals and various radioactive compounds. As a
consequence, we are subject to numerous environmental and safety laws and
regulations, including those governing laboratory procedures, exposure to
blood-borne pathogens and the handling of biohazardous materials. We may be
required to incur significant costs to comply with current or future
environmental laws and regulations and may be adversely affected by the cost of
compliance with these laws and regulations. </font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Although we believe that our safety procedures for using, handling,
storing and disposing of hazardous materials comply with the standards
prescribed by state and federal regulations, the risk of accidental
contamination or injury from these materials cannot be eliminated. In the event
of such an accident, state or federal authorities could curtail our use of these
materials and we could be liable for any civil damages that result, the cost of
which could be substantial. Further, any failure by us to control the use,
disposal, removal or storage, or to adequately restrict the discharge, or assist
in the clean up, of hazardous chemicals or hazardous, infectious or toxic
substances could subject us to significant liabilities, including joint and
several liability under certain statutes. Any such liability could exceed our
resources and could have a material adverse effect on our business, financial
condition and results of operations. Additionally, an accident could damage our
research and manufacturing facilities and operations. </font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Additional federal, state and local laws and regulations affecting us may
be adopted in the future. We may incur substantial costs to comply with these
laws and regulations and substantial fines or penalties if we violate any of
these laws or regulations, which would adversely affect our business.
</font></div>
    <div>&#160;</div>
    <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">We may not be able to obtain or maintain sufficient insurance on
commercially reasonable terms or with adequate coverage against potential
liabilities in order to protect ourselves against product liability
claims.</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif"> </font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Our business exposes us to potential product liability risks that are
inherent in the testing, manufacturing and marketing of human therapeutic and
diagnostic products. We may become subject to product liability claims if the
use of our potential products is alleged to have injured subjects or patients.
This risk exists for product candidates tested in human clinical trials as well
as potential products that are sold commercially. We currently have limited
clinical trial liability insurance and we may not be able to maintain this type
of insurance for any of our clinical trials. In addition, product liability
insurance is becoming increasingly expensive. Being unable to obtain or maintain
product liability insurance in the future on acceptable terms or with adequate
coverage against potential liabilities could have a material adverse effect on
our business. </font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">RISKS RELATED TO OUR COMMON STOCK AND
FINANCIAL REPORTING </font></font></div>
    <div>&#160;</div>
    <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">Our stock price has historically been very
volatile.</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif"> </font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Stock prices and trading volumes for many biopharmaceutical companies
fluctuate widely for a number of reasons, including factors which may be
unrelated to their businesses or results of operations such as media coverage,
legislative and regulatory measures and the activities of various interest
groups or organizations. This market volatility, as well as general domestic or
international economic, market and political conditions, could materially and
adversely affect the market price of our common stock and the return on your
investment. </font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">13 </font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Historically, our stock price has been extremely volatile. Between
January 2000 and December 2009, our stock has traded as high as $75.88 per share
and as low as $1.41 per share. Between January 1, 2007 and January 25, 2010, the
price has ranged between a high of $9.85 per share and a low of $1.95 per share.
The significant market price fluctuations of our common stock are due to a
variety of factors, including: </font></div>
    <ul>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">the demand in the
  market for our common stock; </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">the experimental
  nature of our product candidates; </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">fluctuations in our
  operating results; </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">market conditions
  relating to the biopharmaceutical and pharmaceutical industries; </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">announcements of
  technological innovations, new commercial products, or clinical progress or
  lack thereof by us, our collaborative partners or our competitors;
  </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">announcements
  concerning regulatory developments, developments with respect to proprietary
  rights and our collaborations; </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">comments by securities
  analysts; </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">general market
  conditions; </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">political developments
  related to human embryonic stem cell research; </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">public concern with
  respect to our product candidates; or </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">the issuance of common
  stock to partners, vendors or to investors to raise additional capital.
  </font></div>
      </li>
    </ul>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">In addition, the stock market is subject to other factors outside our
control that can cause extreme price and volume fluctuations. In the third and
fourth quarters of 2008, as well as during 2009, broad distress in the financial
markets and the economy have resulted in greatly increased market uncertainty
and instability in both U.S. and international capital and credit markets. These
conditions, combined with volatile oil prices, declining business and consumer
confidence and increased unemployment have recently contributed to substantial
market volatility, and if such market conditions persist, the price of our
common stock may fluctuate or decline. Securities class action litigation has
often been brought against companies, including many biotechnology companies,
which experience volatility in the market price of their securities.
</font><font size="2" style="FONT-FAMILY: serif">Litigation brought against us
could result in substantial costs and a diversion of management&#8217;s attention and
resources, which could adversely affect our business. </font></div>
    <div>&#160;</div>
    <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">The sale of a substantial number of shares may adversely affect the
market price for our common stock.</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif"> </font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The sale of a substantial number of shares of our common stock in the
public market, or the perception that such sales could occur, could
significantly and negatively affect the market price for our common stock. As of
January 25, 2010, we had 200,000,000 shares of common stock authorized for
issuance and 97,513,617 shares of common stock outstanding. In addition, as of
January 25, 2010, we have reserved for future issuance approximately 20,220,898
shares of common stock for our stock plans, potential milestone payments and
outstanding warrants. </font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">In addition, we have issued common stock to certain parties, such as
vendors and service providers, as payment for products and services. Under these
arrangements, we typically agree to register the shares for resale soon after
their issuance. We may continue to pay for certain goods and services in this
manner, which would dilute your interest in us. Also, sales of the shares issued
in this manner could negatively affect the market price of our stock.
</font></div>
    <div>&#160;</div>
    <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">Our undesignated preferred stock may inhibit potential acquisition bids;
this may adversely affect the market price for our common stock and the voting
rights of holders of our common stock.</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif"> </font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Our certificate of incorporation provides our Board of Directors with the
authority to issue up to 3,000,000 shares of undesignated preferred stock and to
determine or alter the rights, preferences, privileges and restrictions granted
to or imported upon these shares without further vote or action by our
stockholders. As of the date of this filing, 50,000 shares of preferred stock
have been designated Series A Junior Participating Preferred Stock and the Board
of Directors still has authority to designate and issue up to 2,950,000 shares
of preferred stock in one or more classes or series. The issuance of shares of
preferred <font size="2" style="FONT-FAMILY: serif">stock may delay or prevent a
change in control transaction without further action by our stockholders. As a
result, the market price of our common stock may be adversely affected.
</font></font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">14 </font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">In addition, if we issue preferred stock in the future that has
preference over our common stock with respect to the payment of dividends or
upon our liquidation, dissolution or winding up, or if we issue preferred stock
with voting rights that dilute the voting power of our common stock, the rights
of holders of our common stock or the market price of our common stock could be
adversely affected. </font></div>
    <div>&#160;</div>
    <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">Provisions in our share purchase rights plan, charter and bylaws, and
provisions of Delaware law, may inhibit potential acquisition bids for us, which
may prevent holders of our common stock from benefiting from what they believe
may be the positive aspects of acquisitions and
takeovers.</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif"> </font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Our Board of Directors has adopted a share purchase rights plan, commonly
referred to as a &#8220;poison pill.&#8221; This plan entitles existing stockholders to
rights, including the right to purchase shares of common stock, in the event of
an acquisition of 15% or more of our outstanding common stock. </font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Our share purchase rights plan could prevent stockholders from profiting
from an increase in the market value of their shares as a result of a change of
control of us by delaying or preventing a change of control. In addition, our
Board of Directors has the authority, without further action by our
stockholders, to issue additional shares of common stock, and to fix the rights
and preferences of one or more series of preferred stock. </font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">In addition to our share purchase rights plan and the undesignated
preferred stock, provisions of our charter documents and bylaws may make it
substantially more difficult for a third party to acquire control of us and may
prevent changes in our management, including provisions that: </font></div>
    <ul>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">prevent stockholders
  from taking actions by written consent; </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">divide the Board of
  Directors into separate classes with terms of office that are structured to
  prevent all of the directors from being elected in any one year; and
  </font></div>
        <div>&#160;</div>
      </li>
      <li>
        <div align="left"><font size="2" style="FONT-FAMILY: serif">set forth procedures
  for nominating directors and submitting proposals for consideration at
  stockholders&#8217; meetings. </font></div>
      </li>
    </ul>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Provisions of Delaware law may also inhibit potential acquisition bids
for us or prevent us from engaging in business combinations. In addition, we
have severance agreements with several employees and a change of control
severance plan which could require an acquiror to pay a higher price. Either
collectively or individually, these provisions may prevent holders of our common
stock from benefiting from what they may believe are the positive aspects of
acquisitions and takeovers, including the potential realization of a higher rate
of return on their investment from these types of transactions. </font></div>
    <div>&#160;</div>
    <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">We do not intend to pay cash dividends on our common stock in the
foreseeable future.</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif"> </font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">We do not anticipate paying cash dividends on our common stock in the
foreseeable future. Any payment of cash dividends will depend upon our financial
condition, results of operations, capital requirements and other factors and
will be at the discretion of the Board of Directors. Furthermore, we may incur
additional indebtedness that may severely restrict or prohibit the payment of
dividends. </font></div>
    <div>&#160;</div>
    <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: serif">Failure to achieve and maintain effective internal controls in accordance
with Section 404 of the Sarbanes-Oxley Act of 2002 could have a material adverse
effect on our business and stock price.</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif"> </font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">Section 404 of the Sarbanes-Oxley Act of 2002 (the Sarbanes-Oxley Act)
requires that we establish and maintain an adequate internal control structure
and procedures for financial reporting. Our annual report on Form 10-K must
contain an assessment by management of the effectiveness of our internal control
over financial reporting and must include disclosure of any material weaknesses
in internal control over financial reporting that we have identified. In
addition, our independent registered public accounting firm must annually
provide an opinion on the effectiveness of our internal control over financial
reporting. </font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">15 </font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The requirements of Section 404 of the Sarbanes-Oxley Act are ongoing and
also apply to future years. We expect that our internal control over financial
reporting will continue to evolve as our business develops. Although we are
committed to continue to improve our internal control processes and we will
continue to diligently and vigorously review our internal control over financial
reporting in order to ensure compliance with Section 404 requirements, any
control system, regardless of how well designed, operated and evaluated, can
provide only reasonable, not absolute, assurance that its objectives will be
met. </font><font size="2" style="FONT-FAMILY: serif">Therefore, we cannot be
certain that in the future material weaknesses or significant deficiencies will
not exist or otherwise be discovered. If material weaknesses or other
significant deficiencies occur, these weaknesses or deficiencies could result in
misstatements of our results of operations, restatements of our consolidated
financial statements, a decline in our stock price, or other material adverse
effects on our business, reputation, results of operations, financial condition
or liquidity. </font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">FORWARD-LOOKING STATEMENTS
</font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">This prospectus and the documents incorporated by reference into this
prospectus contain forward-looking statements that are based on current
expectations, estimates and projections about our industry, management&#8217;s
beliefs, and assumptions made by management. Words such as &#8220;anticipates,&#8221;
&#8220;expects,&#8221; &#8220;intends,&#8221; &#8220;plans,&#8221; &#8220;believes,&#8221; &#8220;seeks,&#8221; &#8220;estimates,&#8221; and variations
of such words and similar expressions are intended to identify such
forward-looking statements. These statements are not guarantees of future
performance and are subject to certain risks, uncertainties and assumptions that
are difficult to predict; therefore, actual results may differ materially from
those expressed or forecasted in any forward-looking statements. The risks and
uncertainties include, without limitation, risks related to the development and
commercialization of our potential products, dependence on collaborative
partners, need for additional capital, need for regulatory approvals or
clearances, the maintenance of our intellectual property rights and other risks
that are described in &#8220;Risk Factors&#8221; above and in the documents incorporated by
reference. We undertake no obligation to update publicly any forward-looking
statements, whether as a result of new information, future events or otherwise.
</font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">USE OF PROCEEDS </font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">We are filing the registration statement of which this prospectus is a
part under our contractual obligations to the holders named in the section
entitled &#8220;Selling Stockholder.&#8221; We will not receive any of the proceeds from
resale of these shares of common stock by the selling stockholder.</font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">DESCRIPTION OF OUR COMMON STOCK
</font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The following summary is a general description of our common stock.
Complete details can be found in our Charter and bylaws, copies of which are on
file with the SEC as exhibits to registration statements previously filed by us.
See &#8220;Where You Can Find More Information.&#8221; </font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">We have authority to issue 200,000,000 shares of common stock, $0.001 par
value per share. As of January 25, 2010, we had 97,513,617 shares of common
stock outstanding. </font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The holders of our common stock are entitled to one vote per share on all
matters to be voted upon by the stockholder. Subject to preferences that may be
applicable to any outstanding shares of our preferred stock, the holders of
common stock are entitled to receive ratably such dividends, if any, as may be
declared from time to time by our Board of Directors out of funds legally
available for that purpose. In the event of a liquidation, dissolution or
winding up of our company, the holders of our common stock are entitled to share
ratably in all assets remaining after payment of liabilities, subject to
preferences applicable to shares of our preferred stock, if any, then
outstanding. The common stock has no preemptive or conversion rights or other
subscription rights. There are no redemption or sinking fund provisions
available to the common stock. All outstanding shares of our common stock are,
and the shares of common stock offered by this prospectus will be, fully paid
and nonassessable. </font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">TRANSFER AGENT AND REGISTRAR
</font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The transfer agent and registrar for the common stock is Computershare
Trust Company, N.A. </font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">16 </font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif">SELLING STOCKHOLDER </font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: serif">The following table sets forth the name of the selling stockholder, the
number of shares of common stock owned beneficially by the selling stockholder
as of January 25, 2010, the number of shares which may be offered pursuant to
this prospectus and the number of shares to be owned by the selling stockholder
after this offering. In the aggregate, the selling stockholder may sell up to
287,401</font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: serif"> </font></font><font size="2" style="FONT-FAMILY: serif">shares of our common stock pursuant to this
prospectus. Since the selling stockholder may offer all, some or none of its
common stock, no definitive estimate as to the number of shares thereof that
will be held by the selling stockholder after the offering can be provided. In
addition, since the date the selling stockholder provided information regarding
its ownership of the shares, it may have sold, transferred or otherwise disposed
of all or a portion of its shares of common stock in transactions exempt from
the registration requirements of the Securities Act of 1933, as amended (the
Securities Act). Information concerning the selling stockholder may change from
time to time and, when necessary, any changed information will be set forth in a
prospectus supplement to this prospectus. </font></div>
    <div>&#160;</div>
    <div align="left"><font size="2" style="FONT-FAMILY: serif"><font size="3">&#160;&#160;&#160;&#160;&#160;</font>On January 25, 2010, in payment to
Samchully Pharm. Co., Ltd. (Samchully) under Addendum Agreement No. 12 to a
manufacturing agreement pursuant to which Samchully is manufacturing certain
products for us intended for therapeutic use in humans, we issued to Samchully
287,401 shares of our common stock, pursuant to a Common Stock Purchase
Agreement dated as of January 22, 2010.</font></div>
    <div>&#160;</div>
    <div align="left"><font size="2" style="FONT-FAMILY: serif"><font size="3">&#160;&#160;&#160;&#160;&#160;</font>To our knowledge, Samchully has sole
voting and investment power with respect to all shares of common stock
beneficially owned by it. This information is based upon information provided to
us by the selling stockholder. </font></div>
    <div>&#160;</div>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
            <td align="left" nowrap width="75%">
            </td>
            <td nowrap width="1%">
            </td>
            <td nowrap width="4%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">Total</font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="8%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="5%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="4%" style="TEXT-ALIGN: center">
            </td>
          </tr><tr valign="bottom">
            <td nowrap width="75%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="4%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">Number of</font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="8%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">Maximum Number of</font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="5%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="4%" style="TEXT-ALIGN: center">
            </td>
          </tr><tr valign="bottom">
            <td nowrap width="75%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
            <td nowrap width="4%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">Shares Held</font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">&#160;</td>
            <td nowrap width="8%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">Shares Available Pursuant</font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="5%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">Shares Owned</font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="4%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">Percentage</font></td>
          </tr><tr valign="bottom">
            <td nowrap width="75%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">Name</font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
            <td nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">(1)</font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center"><font style="FONT-FAMILY: serif">&#160;&#160;&#160;&#160;&#160;</font></td>
            <td nowrap width="8%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">to this
      Prospectus</font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
            <td nowrap width="5%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">After Offering
      (2)</font></td>
            <td nowrap width="1%" style="TEXT-ALIGN: center">&#160;&#160;&#160;&#160;&#160;</td>
            <td nowrap width="4%" style="BORDER-BOTTOM: #000000 1pt solid; TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">(3)</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="75%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">Samchully Pharm. Co., Ltd.</font></td>
            <td nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td nowrap width="4%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">287,401</font></td>
            <td nowrap width="1%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="8%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">287,401</font></td>
            <td nowrap width="1%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="5%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">0</font></td>
            <td nowrap width="1%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center">
            </td>
            <td nowrap width="4%" bgcolor="#c0c0c0" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: serif">*</font></td>
          </tr></table>
    </div>
    <div align="left"><font size="2" style="FONT-FAMILY: serif">____________________</font></div>
    <div>&#160;</div>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" width="100%" style="">
<tr>
            <td valign="top" width="1%">
              <div align="left"><font size="2" style="FONT-FAMILY: serif">(1)&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></div>
            </td>
            <td valign="top" width="99%">
              <div align="left"><font size="2" style="FONT-FAMILY: serif">Based on
      information available as of January 25, 2010. </font></div>
            </td>
          </tr><tr>
            <td valign="top" width="1%">&#160;</td>
            <td valign="top" width="99%">
            </td>
          </tr><tr>
            <td valign="top" width="1%">
              <div align="left"><font size="2" style="FONT-FAMILY: serif">(2)</font></div>
            </td>
            <td valign="top" width="99%">
              <div align="left"><font size="2" style="FONT-FAMILY: serif">Assumes the sale
      of all shares of common stock offered by this prospectus.
  </font></div>
            </td>
          </tr><tr>
            <td valign="top" width="1%">&#160;</td>
            <td valign="top" width="99%">
            </td>
          </tr><tr>
            <td valign="top" width="1%">
              <div align="left"><font size="2" style="FONT-FAMILY: serif">(3)</font></div>
            </td>
            <td valign="top" width="99%">
              <div align="left"><font size="2" style="FONT-FAMILY: serif">Based on
      97,513,617 shares of common stock outstanding as of January 25, 2010.
      </font></div>
            </td>
          </tr><tr>
            <td valign="top" width="1%">&#160;</td>
            <td valign="top" width="99%">
            </td>
          </tr><tr>
            <td valign="top" width="1%">
              <div align="left"><font size="2" style="FONT-FAMILY: serif">*</font></div>
            </td>
            <td valign="top" width="99%">
              <div align="left"><font size="2" style="FONT-FAMILY: serif">Less than 1%.
      </font></div>
            </td>
          </tr></table>
    </div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">&#160;</font></div>
    <div align="center"><font size="2" style="FONT-FAMILY: serif">17 </font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">PLAN OF DISTRIBUTION </font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">We are
registering a total of 287,401</font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
</font></font><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">shares
of our common stock on behalf of the selling stockholder. The selling
stockholder and any of its pledgees, assignees and successors-in-interest may,
from time to time, sell any or all of the shares of common stock offered hereby
on any stock exchange, market or trading facility on which the shares are traded
or in private transactions. These sales may be at fixed or negotiated prices.
The selling stockholder may use any one or more of the following methods when
selling shares:</font></div>
    <ul>
      <li><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">sales on the Nasdaq Global Market;<br>&#160;</font>
        </li>
      <li><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">sales in the over-the-counter market;<br>&#160;</font>
        </li>
      <li><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">ordinary brokerage transactions and transactions in which the
  broker-dealer solicits purchasers;<br>&#160;</font>
        </li>
      <li><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">block trades in which the broker-dealer will attempt to sell the shares
  as agent but may position and resell a portion of the block as principal to
  facilitate the transaction;<br>&#160;</font>
        </li>
      <li><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">purchases by a broker-dealer as principal and resale by the
  broker-dealer for its account;<br>&#160;</font>
        </li>
      <li><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">an exchange distribution in accordance with the rules of the applicable
  exchange;<br>&#160;</font>
        </li>
      <li><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">privately negotiated transactions;<br>&#160;</font>
        </li>
      <li><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">short sales;<br>&#160;</font>
        </li>
      <li><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">transactions in which broker-dealers agree with the selling stockholder
  to sell a specified number of such shares at a stipulated price per
  share;<br>&#160;</font>
        </li>
      <li><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">a combination of any such methods of sale; and<br>&#160;</font>
        </li>
      <li><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">any other method permitted pursuant to applicable law.</font> </li>
    </ul>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">The
selling stockholder may also sell the shares directly to market makers acting as
principals and/or broker-dealers acting as agents for themselves or their
customers. These broker-dealers may receive compensation in the form of
discounts, concessions or commissions from the selling stockholder and/or the
purchasers of shares for whom the broker-dealers may act as agents or to whom
they sell as principal or both, which compensation as to a particular
broker-dealer might be in excess of customary commissions. Market makers and
block purchasers purchasing the shares will do so for their own account and at
their own risk. It is possible that the selling stockholder will attempt to sell
shares of common stock in block transactions to market makers or other
purchasers at a price per share which may be below the then market price. The
selling stockholder cannot assure that all or any of the shares offered in this
prospectus will be issued to, or sold by, the selling stockholder. The selling
stockholder and any brokers, dealers or agents, upon effecting the sale of any
of the shares offered in this prospectus, may be deemed &#8220;underwriters&#8221; as that
term is defined under the Securities Act or the Securities Exchange Act of 1934,
as amended (the Exchange Act), or the rules and regulations under such
acts.</font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">The
selling stockholder, alternatively, may sell all or any part of the shares
offered in this prospectus through an underwriter. To our knowledge, the selling
stockholder has not entered into any agreement with a prospective underwriter
and we cannot assure you that any such agreement will be entered into. If the
selling stockholder enters into this type of an agreement or agreements, the
relevant details will be set forth in a supplement or revision to this
prospectus.</font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">The
selling stockholder and any other persons participating in the sale or
distribution of the shares will be subject to applicable provisions of the
Exchange Act and the rules and regulations under such act, including, without
limitation, Regulation M. These provisions may restrict certain activities of,
and limit the timing of purchases and sales of any of the shares by, the selling
stockholder or any other person. Furthermore, under Regulation M, persons
engaged in a distribution of securities are prohibited from </font><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">simultaneously engaging in market making and certain other activities
with respect to the securities for a specified period of time prior to the
commencement of the distributions, subject to specified exceptions or
exemptions. All of these limitations may affect the marketability of the
shares.</font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">18
</font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">The
selling stockholder also may sell all or a portion of its shares in open market
transactions in reliance upon Rule 144 under the Securities Act, provided it
meets the criteria and conforms to the requirements of Rule 144.</font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">VALIDITY OF THE SECURITIES </font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">Latham
&amp; Watkins LLP, Menlo Park, California, will pass on the validity of the
issuance of the shares of common stock offered by this prospectus. </font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">EXPERTS </font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">The
consolidated financial statements of Geron Corporation appearing in Geron&#8217;s
Annual Report on Form 10-K for the year ended December 31, 2008, and the
effectiveness of internal control over financial reporting as of December 31,
2008, have been audited by Ernst &amp; Young LLP, independent registered public
accounting firm, as set forth in their reports thereon, included therein, and
incorporated herein by reference. Such consolidated financial statements are
incorporated herein by reference in reliance upon such reports given on the
authority of such firm as experts in accounting and auditing.</font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">MATERIAL CHANGES </font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">There
have been no material changes in our affairs since December 31, 2008, which have
not been described in subsequent reports on Form 10-Q or Form 8-K. </font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">LIMITATION ON LIABILITY AND DISCLOSURE OF COMMISSION POSITION
ON<br>INDEMNIFICATION FOR SECURITIES ACT LIABILITIES </font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">Our
bylaws provide for indemnification of our directors and officers to the fullest
extent permitted by law. Insofar as indemnification for liabilities under the
Securities Act may be permitted to directors, officers or controlling persons of
Geron pursuant to Geron&#8217;s Certificate of Incorporation, bylaws and the Delaware
General Corporation Law, Geron has been informed that in the opinion of the
Securities and Exchange Commission such indemnification is against public policy
as expressed in the Securities Act and is therefore unenforceable.</font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">WHERE YOU CAN FIND MORE INFORMATION </font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">We
file annual, quarterly and special reports, proxy statements and other
information with the SEC. We make available free of charge on or through our
Internet website our annual reports on Form 10-K, quarterly reports on Form
10-Q, current reports on Form 8-K and all amendments to those reports as soon as
reasonably practicable after they are electronically filed with, or furnished
to, the Securities and Exchange Commission. Our Internet website address is
www.geron.com. You may read and copy any document we file at the SEC&#8217;s public
reference room located at Room 1580, 100 F Street, N.E., Washington, D.C. 20549.
Please call the SEC at 1-800-SEC-0330 for further information on the public
reference room. Our SEC filings are also available to the public at the SEC&#8217;s
website at http://www.sec.gov. You may also inspect copies of these materials
and other information about us at the offices of the Nasdaq Stock Market, Inc.,
National Market System, 1735 K Street, N.W., Washington, D.C.
20006-1500.</font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">19
</font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">DOCUMENTS WE HAVE INCORPORATED BY REFERENCE </font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">The
SEC allows us to &#8220;incorporate by reference&#8221; the information we file with them
which means that we can disclose important information to you by referring you
to those documents instead of having to repeat the information in this
prospectus. The information incorporated by reference is considered to be part
of this prospectus, and later information that we file with the SEC will
automatically update and supersede this information. We incorporate by reference
the documents listed below and any future filings made with the SEC under
Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act until the selling
stockholder sells all the shares:</font></div>
    <ul style="FONT-SIZE: 10pt">
      <li><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">Our annual report on Form 10-K for the fiscal year ended December 31,
  2008, filed with the SEC on February 27, 2009;<br>&#160;</font>
        </li>
      <li><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">Our quarterly report on Form 10-Q for the quarter ended March 31, 2009,
  filed with the SEC on April 30, 2009;<br>&#160;</font>
        </li>
      <li><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">Our quarterly report on Form 10-Q for the quarter ended June 30, 2009,
  filed with the SEC on July 31, 2009;<br>&#160;</font>
        </li>
      <li><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">Our quarterly report on Form 10-Q for the quarter ended September 30,
  2009, filed with the SEC on October 30, 2009;<br>&#160;</font>
        </li>
      <li><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">Our definitive proxy statement filed with the SEC on April 10,
  2009;<br>&#160;</font>
        </li>
      <li><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">Our current reports on Form 8-K filed with the SEC on January 23, 2009,
  January 28, 2009, February 12, 2009, February 12, 2009, February 17, 2009,
  March 30, 2009, April 27, 2009, July 2, 2009, August 18, 2009, September 10,
  2009, October 30, 2009, December 15, 2009 and January 15, 2010;
  and<br>&#160;</font>
        </li>
      <li><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">The description of our common stock set forth in our registration
  statement on Form 8-A, filed with the SEC on June 13, 1996 (File No.
  0-20859).</font> </li>
    </ul>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">All
documents we file under Section 13(a), 13(c), 14 or 15(d) of the Exchange Act
after the date of this registration statement and prior to the filing of a
post-effective amendment that indicates that all securities offered have been
sold or that deregisters all securities then remaining unsold, shall be deemed
to be incorporated by reference in this registration statement and to be a part
of it from the respective dates of filing those documents. Any statement
contained in a document incorporated or deemed to be incorporated by reference
herein shall be deemed to be modified or superseded for purposes of this
registration statement to the extent that a statement contained herein modifies
or supersedes that statement. Any statement so modified or superseded shall not
be deemed, except as so modified or superseded, to constitute a part of this
registration statement.</font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">We
will furnish without charge to you, on written or oral request, a copy of any or
all of the documents incorporated by reference, including exhibits to these
documents. You should direct any requests for documents to David L. Greenwood,
Chief Financial Officer, Geron Corporation, 230 Constitution Drive, Menlo Park,
California 94025, telephone: (650) 473-7700.</font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">20
</font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div align="left">&#160;</div>
    <div>&#160;</div>
    <div align="left">&#160;</div>
    <div>&#160;</div>
    <div align="left">&#160;</div>
    <div>&#160;</div>
    <div align="left">&#160;</div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">287,401 SHARES OF COMMON STOCK </font></font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">GERON CORPORATION </font></font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">PROSPECTUS </font></font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">,
2010 </font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;</div>
    <div>&#160;</div>
    <div align="left">&#160;</div>
    <div>&#160;</div>
    <div align="left">&#160;</div>
    <div>&#160;</div>
    <div align="left">&#160;</div>
    <div>&#160;</div>
    <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">YOU SHOULD RELY ONLY ON THE INFORMATION CONTAINED OR INCORPORATED BY
REFERENCE IN THIS PROSPECTUS. WE HAVE NOT AUTHORIZED ANYONE TO PROVIDE YOU WITH
DIFFERENT INFORMATION. YOU SHOULD NOT ASSUME THAT THE </font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">INFORMATION CONTAINED OR INCORPORATED BY REFERENCE IN THIS PROSPECTUS IS
ACCURATE AS OF ANY DATE OTHER THAN THE DATE OF THIS PROSPECTUS. WE ARE NOT
MAKING AN OFFER OF THESE SECURITIES IN ANY STATE WHERE THE OFFER IS NOT
PERMITTED. </font></font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">21
</font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">PART II </font></font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">INFORMATION NOT REQUIRED IN THE PROSPECTUS </font></font></div>
    <div>&#160;</div>
    <div align="left"><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">Item
14. Other Expenses of Issuance and Distribution. </font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">The
following sets forth the costs and expenses, all of which shall be borne by the
Registrant, in connection with the offering of the securities pursuant to this
Registration Statement: </font></div>
    <div>&#160;</div>
    <div align="left">
      <table border="0" cellpadding="0" cellspacing="0" width="30%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
            <td align="left" nowrap width="1%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</td>
            <td align="left" nowrap width="76%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Registration Fee</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">&#160;&#160;&#160;&#160;&#160;</td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">$</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">&#160;&#160;</td>
            <td align="right" nowrap width="15%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">120</font></td>
            <td align="left" nowrap width="5%" bgcolor="#c0c0c0">
            </td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="76%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Accounting Fees and Expenses</font></td>
            <td align="right" nowrap width="1%">
            </td>
            <td align="right" nowrap width="1%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">$</font></td>
            <td align="right" nowrap width="1%">
            </td>
            <td align="right" nowrap width="15%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">10,000</font></td>
            <td align="left" nowrap width="5%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">*</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="76%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Legal Fees and Expenses</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">$</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="15%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">10,000</font></td>
            <td align="left" nowrap width="5%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">*</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="1%">&#160;</td>
            <td align="left" nowrap width="76%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Miscellaneous</font></td>
            <td align="right" nowrap width="1%">
            </td>
            <td align="right" nowrap width="1%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">$</font></td>
            <td align="right" nowrap width="1%">
            </td>
            <td align="right" nowrap width="15%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">1,500</font></td>
            <td align="left" nowrap width="5%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">*</font></td>
          </tr><tr>
            <td width="1%">
            </td>
            <td colspan="6" width="99%">&#160;</td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="76%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Total</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">$</font></td>
            <td align="right" nowrap width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="right" nowrap width="15%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">21,620</font></td>
            <td align="left" nowrap width="5%" bgcolor="#c0c0c0">&#160; </td>
          </tr><tr>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="76%">&#160;</td>
            <td align="right" nowrap width="1%">
            </td>
            <td align="right" nowrap width="1%">
            </td>
            <td align="right" nowrap width="1%">
            </td>
            <td align="right" nowrap width="15%">
            </td>
            <td align="left" nowrap width="5%">
            </td>
          </tr><tr>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="76%" bgcolor="#ffffff">
              <div align="left"><font size="1" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">*&#160;&#160;&#160;Estimated </font></div>
            </td>
            <td align="right" nowrap width="1%">
            </td>
            <td align="right" nowrap width="1%">
            </td>
            <td align="right" nowrap width="1%">
            </td>
            <td align="right" nowrap width="15%">
            </td>
            <td align="left" nowrap width="5%">
            </td>
          </tr></table>
    </div><br>
    <div align="left"><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">Item
15. Indemnification of Directors and Officers.</font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">Section 145(a) of the General Corporation Law of the State of Delaware
(the DGCL) provides that a Delaware corporation may indemnify any person who was
or is a party or is threatened to be made a party to any threatened, pending or
completed action, suit or proceeding, whether civil, criminal, administrative or
investigative (other than an action by or in the right of the corporation) by
reason of the fact that such person is or was a director, officer, employee or
agent of the corporation or is or was serving at the request of the corporation
as a director, officer, employee or agent of another corporation or enterprise,
against expenses, judgments, fines and amounts paid in settlement actually and
reasonably incurred by such person in connection with such action, suit or
proceeding if he or she acted in good faith and in a manner he or she reasonably
believed to be in or not opposed to the best interests of the corporation, and,
with respect to any criminal action or proceeding, had no cause to believe his
or her conduct was unlawful.</font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">Section 145(b) of the DGCL provides that a Delaware corporation may
indemnify any person who was or is a party or is threatened to be made a party
to any threatened, pending or completed action or suit by or in the right of
corporation to procure a judgment in its favor by reason of the fact that such
person acted in any of the capacities set forth above, against expenses actually
and reasonably incurred by such person in connection with the defense or
settlement of such action or suit if he or she acted under similar standards to
those set forth above, except that no indemnification may be made in respect to
any claim, issue or matter as to which such person shall have been adjudged to
be liable to the corporation unless and only to the extent that the court in
which such action or suit was brought shall determine that despite the
adjudication of liability, but in view of all the circumstances of the case,
such person is fairly and reasonably entitled to be indemnified for such
expenses which the court shall deem proper.</font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">Section 145 of the DGCL further provides that to the extent a director or
officer of a corporation has been successful in the defense of any action, suit
or proceeding referred to in subsection (a) and (b) or in the defense of any
claim, issue or matter therein, he or she shall be indemnified against expenses
actually and reasonably incurred by him or her in connection therewith; that
indemnification provided for by Section 145 shall not be deemed exclusive of any
other rights to which the indemnified party may be entitled; and that the
corporation may purchase and maintain insurance on behalf of a director or
officer of the corporation against any liability asserted against such officer
or director and incurred by him or her in any such capacity or arising out of
his or her status as such, whether or not the corporation would have the power
to indemnify him or her against such liabilities under Section 145.</font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">II-1</font><font size="1" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">
</font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div align="left"><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif"><font size="3">&#160;&#160;&#160;&#160;&#160;</font><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">As
permitted by Section 102(b)(7) of the DGCL, our Certificate of Incorporation
provides that a director shall not be liable to us or our stockholders for
monetary damages for breach of fiduciary duty as a director. However, this
provision does not eliminate or limit the liability of a director for acts or
omissions </font></font><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">not in
good faith or for breaching his or her duty of loyalty, engaging in intentional
misconduct or knowingly violating the law, paying a dividend or approving a
stock repurchase which was illegal, or obtaining an improper personal benefit. A
provision of this type has no effect on the availability of equitable remedies,
such as injunction or rescission, for breach of fiduciary duty. Our Certificate
of Incorporation requires that directors and officers be indemnified to the
maximum extent permitted by Delaware law.</font></div>
    <div>&#160;</div>
    <div align="left"><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">Item
16. Exhibits. </font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">See
Exhibit Index. </font></div>
    <div>&#160;</div>
    <div align="left"><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">Item
17. Undertakings.</font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160; <font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">(a)
The undersigned registrant hereby undertakes:</font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">(1) To
file, during any period in which offers or sales are being made, a
post-effective amendment to this registration statement:</font></div>
    <div>&#160;</div>
    <div style="PADDING-LEFT: 15pt" align="left"><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">(i) To
include any prospectus required by Section 10(a)(3) of the Securities Act of
1933;</font></div>
    <div>&#160;</div>
    <div style="PADDING-LEFT: 15pt" align="left"><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">(ii)
To reflect in the prospectus any facts or events arising after the effective
date of the registration statement (or the most recent post-effective amendment
thereof) which, individually or in the aggregate, represent a fundamental change
in the information set forth in this registration statement. Notwithstanding the
foregoing, any increase or decrease in volume of securities offered (if the
total dollar value of securities offered would not exceed that which was
registered) and any deviation from the low or high end of the estimated maximum
offering range may be reflected in the form of prospectus filed with the
Commission pursuant to Rule 424(b) if, in the aggregate the changes in volume
and price represent no more than 20 percent change in the maximum aggregate
offering price set forth in the &#8220;Calculation of Registration Fee&#8221; table in the
effective registration statement; and</font></div>
    <div>&#160;</div>
    <div style="PADDING-LEFT: 15pt" align="left"><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">(iii)
To include any material information with respect to the plan of distribution not
previously disclosed in this registration statement or any material change to
such information in this registration statement;</font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: TimesNewRomanPS-ItalicMT,Times New Roman,Times,serif">Provided, however, </font></font><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">that
subparagraphs (i), (ii) and (iii) do not apply if the information required to be
included in a post-effective amendment by those paragraphs is contained in
reports filed with or furnished to the Commission by the registrant pursuant to
Section 13 or Section 15(d) of the Securities Exchange Act of 1934 that are
incorporated by reference in the registration statement, or is contained in a
form of prospectus filed pursuant to Rule 424(b) that is a part of the
registration statement.</font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">(2)
That, for the purpose of determining any liability under the Securities Act of
1933, each such post-effective amendment shall be deemed to be a new
registration statement relating to the securities offered therein, and the
offering of such securities at that time to be deemed the initial bona fide
offering.</font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">(3) To
remove from registration by means of a post-effective amendment any of the
securities being registered which remain unsold at the termination of the
offering.</font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">(b)
The undersigned registrant hereby undertakes that, for purposes of determining
any liability under the Securities Act of 1933, each filing of the registrant&#8217;s
annual report pursuant to Section 13(a) or 15(d) of the Securities Exchange Act
of 1934 (and, where applicable, each filing of an employee benefit plan&#8217;s annual
report pursuant to Section 15(d) of the Securities Exchange Act of 1934) that is
incorporated by reference in the registration statement shall be deemed to be a
new registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.</font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">II-2
</font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div align="left">&#160;&#160;&#160;&#160;<font style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<font size="2" style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(c) The undersigned
registrant hereby undertakes to deliver or cause to be delivered with the
prospectus, to each person to whom the prospectus is sent or given, the latest
annual report to security </font>holders that is incorporated by reference in
the prospectus and furnished pursuant to and meeting the requirements of Rule
14a-3 or Rule 14c-3 under the Securities Exchange Act of 1934; and, where
interim financial information required to be presented by Article 3 of
Regulation S-X is not set forth in the prospectus, to deliver, or cause to be
delivered to each person to whom the prospectus is sent or given, the latest
quarterly report that is specifically incorporated by reference in the
prospectus to provide such interim financial information.</font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">(d)
Insofar as indemnification for liabilities arising under the Securities Act of
1933 may be permitted to directors, officers and controlling persons of the
registrant pursuant to the foregoing provisions, or otherwise, the registrant
has been advised that in the opinion of the Securities and Exchange Commission
such indemnification is against public policy as expressed in the Act and is,
therefore, unenforceable. In the event that a claim for indemnification against
such liabilities (other than the payment by the registrant of expenses incurred
or paid by a director, officer or controlling person of the registrant in the
successful defense of any action, suit or proceeding) is asserted by such
director, officer or controlling person in connection with the securities being
registered, the registrant will, unless in the opinion of its counsel the matter
has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public
policy as expressed in the Act and will be governed by the final adjudication of
such issue.</font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">II-3
</font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">SIGNATURES </font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">Pursuant to the requirements of the Securities Act of 1933, the
Registrant certifies that it has reasonable grounds to believe that it meets all
of the requirements for filing on Form S-3 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the city of Menlo Park, State of California, on January 27, 2010.
</font></div>
    <div>&#160;</div>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr>
            <td align="left" nowrap width="50%">
            </td>
            <td align="left" colspan="3" nowrap width="50%">
              <div align="left"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">GERON CORPORATION</font></div>
            </td>
          </tr><tr>
            <td align="left" nowrap width="50%">
            </td>
            <td align="left" nowrap width="1%">&#160;</td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="48%">
            </td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="50%">
            </td>
            <td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">By:</font></td>
            <td align="left" nowrap width="1%">&#160;&#160;&#160;&#160;</td>
            <td align="left" nowrap width="48%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">/s/ David L. Greenwood</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="50%">&#160;</td>
            <td align="left" nowrap width="1%">&#160;</td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="48%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">David L. Greenwood</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="50%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="1%">&#160;</td>
            <td align="left" nowrap width="48%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Executive Vice President and</font></td>
          </tr><tr>
            <td align="left" nowrap width="50%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="48%"><font size="2">Chief Financial
      Officer</font></td>
          </tr></table>
    </div><br>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">POWER OF ATTORNEY </font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">KNOW
ALL BY THESE PERSONS PRESENT, that the persons whose signatures appear below do
hereby constitute and appoint Thomas B. Okarma and David L. Greenwood, or any of
them, with full power of substitution and full power to act without the other,
his or her true and lawful attorney-in-fact and agent to act for him or her in
his or her name, place and stead, in any and all capacities, to sign a
registration statement on Form S-3 and any or all amendments thereto (including
without limitation any post-effective amendments thereto), and any registration
statement for the same offering that is to be effective under Rule 462(b) of the
Securities Act, and to file each of the same, with all exhibits thereto, and
other documents in connection therewith, with the Securities and Exchange
Commission, granting unto said attorneys-in-fact and agents, and each of them,
full power and authority to do and perform each and every act and thing
requisite and necessary to be done in and about the premises in order to
effectuate the same as fully, to all intents and purposes, as they, he or she
might or could do in person, hereby ratifying and confirming all that said
attorneys-in-fact and agents, or any of them, may lawfully do or cause to be
done by virtue hereof.</font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">Pursuant to the requirements of the Securities Act of 1933, as amended,
this Registration Statement has been signed by the following persons in the
capacities and on the dates indicated.</font></div>
    <div>&#160;</div>
    <div align="left">
    </div>
    <div>&#160;</div>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
            <td align="left" nowrap width="31%"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: timesnewromanps-boldmt,times new roman,times,serif">Signature</font></font></font></td>
            <td align="left" nowrap width="2%">&#160;&#160;&#160;&#160;&#160;</td>
            <td align="left" nowrap width="32%"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: timesnewromanps-boldmt,times new roman,times,serif">Title</font></font></font></td>
            <td nowrap width="2%">&#160;&#160;&#160;&#160;&#160;</td>
            <td nowrap width="32%" style="TEXT-ALIGN: center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: timesnewromanps-boldmt,times new roman,times,serif"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Date</font></font></font></td>
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            <td align="left" nowrap width="31%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">/s/ Thomas B. Okarma</font></td>
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            </td>
            <td align="left" nowrap width="32%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Chief Executive Officer, President and</font></td>
            <td nowrap width="2%">
            </td>
            <td nowrap width="32%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">January 27, 2010</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="31%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif"><font size="3">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font>Thomas
      B. Okarma</font></td>
            <td align="left" nowrap width="2%">
            </td>
            <td align="left" nowrap width="32%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Director (principal executive officer)</font></td>
            <td align="left" nowrap width="2%">
            </td>
            <td nowrap width="32%">&#160;</td>
          </tr><tr>
            <td align="left" colspan="5" width="99%">&#160;</td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="31%">
            </td>
            <td align="left" nowrap width="2%">
            </td>
            <td align="left" nowrap width="32%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Executive Vice President and Chief</font></td>
            <td align="left" nowrap width="2%">
            </td>
            <td nowrap width="32%">
            </td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="31%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">/s/ David L. Greenwood</font></td>
            <td align="left" nowrap width="2%">
            </td>
            <td align="left" nowrap width="32%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Financial Officer (principal financial and</font></td>
            <td nowrap width="2%">
            </td>
            <td nowrap width="32%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">January 27, 2010</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="31%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">David L. Greenwood</font></td>
            <td align="left" nowrap width="2%">&#160;</td>
            <td align="left" nowrap width="32%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">accounting officer)</font></td>
            <td align="left" nowrap width="2%">
            </td>
            <td nowrap width="32%">
            </td>
          </tr><tr>
            <td colspan="5" width="99%" style="TEXT-ALIGN: center">&#160;</td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="31%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">/s/ Alexander E. Barkas</font></td>
            <td align="left" nowrap width="2%">
            </td>
            <td align="left" nowrap width="32%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Director</font></td>
            <td nowrap width="2%">
            </td>
            <td nowrap width="32%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">January 27, 2010</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="31%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Alexander E. Barkas</font></td>
            <td align="left" nowrap width="2%">
            </td>
            <td align="left" nowrap width="32%">
            </td>
            <td align="left" nowrap width="2%">
            </td>
            <td nowrap width="32%">
            </td>
          </tr><tr>
            <td align="left" colspan="5" width="99%">&#160;</td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="31%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">/s/ Karin Eastham</font></td>
            <td align="left" nowrap width="2%">
            </td>
            <td align="left" nowrap width="32%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Director</font></td>
            <td nowrap width="2%">
            </td>
            <td nowrap width="32%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">January 27, 2010</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="31%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Karin Eastham</font></td>
            <td align="left" nowrap width="2%">
            </td>
            <td align="left" nowrap width="32%">&#160;</td>
            <td align="left" nowrap width="2%">
            </td>
            <td nowrap width="32%">
            </td>
          </tr><tr>
            <td align="left" colspan="5" width="99%">&#160;</td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="31%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">/s/ Edward V. Fritzky</font></td>
            <td align="left" nowrap width="2%">
            </td>
            <td align="left" nowrap width="32%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Director</font></td>
            <td nowrap width="2%">
            </td>
            <td nowrap width="32%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">January 27, 2010</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="31%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Edward V. Fritzky</font></td>
            <td align="left" nowrap width="2%">
            </td>
            <td align="left" nowrap width="32%">
            </td>
            <td align="left" nowrap width="2%">
            </td>
            <td nowrap width="32%">&#160;</td>
          </tr><tr>
            <td align="left" colspan="5" width="99%">&#160;</td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="31%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">/s/ Charles J. Homcy</font></td>
            <td align="left" nowrap width="2%">
            </td>
            <td align="left" nowrap width="32%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Director</font></td>
            <td nowrap width="2%">
            </td>
            <td nowrap width="32%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">January 27, 2010</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="31%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Charles J. Homcy</font></td>
            <td align="left" nowrap width="2%">
            </td>
            <td align="left" nowrap width="32%">
            </td>
            <td align="left" nowrap width="2%">
            </td>
            <td nowrap width="32%">
            </td>
          </tr><tr>
            <td align="left" colspan="5" width="99%">&#160;</td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="31%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">/s/ Thomas D. Kiley</font></td>
            <td align="left" nowrap width="2%">
            </td>
            <td align="left" nowrap width="32%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Director</font></td>
            <td nowrap width="2%">
            </td>
            <td nowrap width="32%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">January 27, 2010</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="31%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Thomas D. Kiley</font></td>
            <td align="left" nowrap width="2%">
            </td>
            <td align="left" nowrap width="32%">
            </td>
            <td align="left" nowrap width="2%">
            </td>
            <td nowrap width="32%">
            </td>
          </tr><tr>
            <td align="left" colspan="5" width="99%">&#160;</td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="31%" style="BORDER-BOTTOM: #000000 1pt solid">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">/s/ Patrick J. Zenner</font></td>
            <td align="left" nowrap width="2%">
            </td>
            <td align="left" nowrap width="32%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Director</font></td>
            <td nowrap width="2%">&#160;</td>
            <td nowrap width="32%" style="TEXT-ALIGN: center"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">January 27, 2010</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="31%">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Patrick J. Zenner</font></td>
            <td align="left" nowrap width="2%">
            </td>
            <td align="left" nowrap width="32%">
            </td>
            <td align="left" nowrap width="2%">
            </td>
            <td nowrap width="32%">&#160; </td>
          </tr></table>
    </div>
    <div align="center"><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">&#160;</font></div>
    <div align="center"><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">S-1</font><font size="1" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">
</font></div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">EXHIBIT INDEX </font></font></div>
    <div>&#160;</div>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" width="100%" style="FONT-SIZE: 12pt; LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
            <td nowrap width="3%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: serif">Exhibits</font></td>
            <td align="left" nowrap width="1%">&#160;&#160;&#160;&#160;&#160;</td>
            <td align="left" nowrap width="1%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: serif">Description</font></td>
            <td align="left" nowrap width="95%">&#160;</td>
          </tr><tr valign="bottom">
            <td align="right" nowrap valign="top" width="3%" bgcolor="#c0c0c0"><font size="2"><font style="FONT-FAMILY: serif">4.1</font>&#160;&#160;&#160;&#160;</font></td>
            <td align="left" nowrap valign="top" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" colspan="2" valign="top" width="96%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">Common Stock Purchase Agreement dated as
      of January 22, 2010 by and between Registrant and Samchully Pharm. Co.,
      Ltd.</font></td>
          </tr><tr valign="bottom">
            <td align="right" nowrap valign="top" width="3%" bgcolor="#ffffff"><font size="2"><font style="FONT-FAMILY: serif">5.1</font>&#160;&#160;&#160;&#160;</font></td>
            <td align="left" nowrap valign="top" width="1%" bgcolor="#ffffff">&#160;</td>
            <td align="left" colspan="2" valign="top" width="96%" bgcolor="#ffffff"><font size="2" style="FONT-FAMILY: serif">Opinion of Latham &amp; Watkins
      LLP.</font></td>
          </tr><tr valign="bottom">
            <td align="right" nowrap valign="top" width="3%" bgcolor="#c0c0c0"><font size="2"><font style="FONT-FAMILY: serif">23.1</font>&#160;&#160;&#160;&#160;</font></td>
            <td align="left" nowrap valign="top" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" colspan="2" valign="top" width="96%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">Consent of Latham &amp; Watkins LLP
      (included in Exhibit 5.1).</font></td>
          </tr><tr valign="bottom">
            <td align="right" nowrap valign="top" width="3%" bgcolor="#ffffff"><font size="2"><font style="FONT-FAMILY: serif">23.2</font>&#160;&#160;&#160;&#160;</font></td>
            <td align="left" nowrap valign="top" width="1%" bgcolor="#ffffff">
            </td>
            <td align="left" colspan="2" valign="top" width="96%" bgcolor="#ffffff"><font size="2" style="FONT-FAMILY: serif">Consent of Independent Registered Public
      Accounting Firm.</font></td>
          </tr><tr valign="bottom">
            <td align="right" nowrap valign="top" width="3%" bgcolor="#c0c0c0"><font size="2"><font style="FONT-FAMILY: serif">24.1</font>&#160;&#160;&#160;&#160;</font></td>
            <td align="left" nowrap valign="top" width="1%" bgcolor="#c0c0c0">
            </td>
            <td align="left" colspan="2" valign="top" width="96%" bgcolor="#c0c0c0"><font size="2" style="FONT-FAMILY: serif">Power of Attorney (included on the
      signature page to this Registration
Statement).</font></td>
          </tr></table>
    </div><br>
    <hr align="center" noshade size="2" width="100%">
  </body>
</html>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.1
<SEQUENCE>2
<FILENAME>exhibit4-1.htm
<DESCRIPTION>COMMON STOCK PURCHASE AGREEMENT DATED AS OF JANUARY 22, 2010
<TEXT>
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<head>
    <title>exhibit4-1.htm</title>
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    <div align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font></div>
    <div align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">EXHIBIT 4.1 </font></font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">COMMON STOCK PURCHASE AGREEMENT </font></font></div>
    <div>&#160;</div>
    <div align="justify"><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">THIS
COMMON STOCK PURCHASE AGREEMENT (&#8220;Agreement&#8221;) is made and entered into as of
January 22, 2010 (the &#8220;</font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: TimesNewRomanPS-BoldItalicMT,Times New Roman,Times,serif">Effective Date</font></font></font><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">&#8221;), by
and between GERON CORPORATION, a Delaware corporation having its principal place
of business at 230 Constitution Drive, Menlo Park, California 94025 (&#8220;Geron&#8221;),
and Samchully Pharm. Co., Ltd., having a principal place of business at 947-7,
Daechi-dong, Gangnam-gu, Seoul, Korea (&#8220;Manufacturer&#8221;). </font></div>
    <div>&#160;</div>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" style="TEXT-ALIGN: justify; ">
<tr>
            <td nowrap valign="top">&#160;&#160;&#160;&#160;&#160;</td>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">A.</font></td>
            <td nowrap valign="top">&#160;&#160;&#160;&#160;&#160;</td>
            <td valign="top" width="100%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Geron and Manufacturer are the parties to that certain Master
      Manufacturing Agreement dated as of March 9, 2005 (the &#8220;</font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: timesnewromanps-bolditalicmt,times new roman,times,serif">Manufacturing Agreement</font></font></font><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">&#8221;), and related Addendum Agreements (&#8220;</font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: timesnewromanps-bolditalicmt,times new roman,times,serif">Addendum Agreement</font></font></font><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">&#8221;) under which Geron has agreed to purchase certain products and
      services from Manufacturer and Manufacturer has agreed to supply such
      products and services to Geron on the terms set forth
therein.</font></td>
          </tr><tr>
            <td nowrap valign="top">
            </td>
            <td colspan="3" valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">B.</font></td>
            <td nowrap valign="top">
            </td>
            <td valign="top" width="100%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Pursuant to the Amendment No. 1 to the Manufacturing Agreement,
      dated as of May 12, 2008, Geron is entitled to pay the purchase price of
      products and services by delivery of shares of Geron&#8217;s Common Stock (the
      &#8220;</font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: timesnewromanps-bolditalicmt,times new roman,times,serif">Share</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: timesnewromanps-boldmt,times new roman,times,serif">s</font></font><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">&#8221;).</font></td>
          </tr></table>
    </div>
    <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font></div>
    <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">THE PARTIES AGREE AS FOLLOWS: </font></font></div>
    <div>&#160;</div>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" width="100%" style="TEXT-ALIGN: justify; ">
<tr valign="bottom">
            <td align="right" nowrap valign="top" width="1%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">1.</font></td>
            <td align="left" nowrap valign="top" width="1%"><font style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">&#160;&#160;&#160;&#160;
      </font></td>
            <td align="left" nowrap valign="top" width="97%"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: timesnewromanps-italicmt,times new roman,times,serif">ISSUANCE OF SHARES;
ADJUSTMENTS</font></font></td>
          </tr></table>
    </div>
    <div><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">&#160;</font></div>
    <div><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif"><font size="3">&#160;&#160;&#160;&#160; </font>As payment of the costs for
activities to be performed pursuant to Addendum Agreement No. 12, Geron will
issue and deliver certificates for 287,401 Shares. Upon issuance and delivery of
the certificate(s) for the Shares, all Shares shall be duly authorized and
validly issued and represent fully paid shares of Geron&#8217;s Common
Stock.</font></div>
    <div>&#160;</div>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" style="TEXT-ALIGN: justify; ">
<tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">2.</font></td>
            <td nowrap valign="top">&#160;&#160;&#160;&#160;&#160;</td>
            <td colspan="5" valign="top" width="100%"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: timesnewromanps-italicmt,times new roman,times,serif">CLOSING; DELIVERY</font></font></td>
          </tr><tr>
            <td colspan="7" valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top">&#160;</td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">2.1</font></td>
            <td nowrap valign="top">&#160;&#160;&#160;&#160;&#160;</td>
            <td colspan="3" valign="top" width="100%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">The consummation of the transaction contemplated by this Agreement
      (a &#8220;</font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: timesnewromanps-bolditalicmt,times new roman,times,serif">Closing</font></font></font><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">&#8221;) shall be held at such time and place as is mutually agreed upon
      between the parties, but in any event Geron shall make commercially
      reasonable efforts to accomplish the Closing no later than five (5)
      business days after the Effective Date hereof (the &#8220;</font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: timesnewromanps-bolditalicmt,times new roman,times,serif">Closing Date</font></font></font><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">&#8221;). At the Closing, Geron shall deliver to Manufacturer one or more
      certificates representing all of the Shares, which Shares shall be issued
      in the name of Manufacturer or its designee and in such denominations as
      Manufacturer shall specify</font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: timesnewromanps-boldmt,times new roman,times,serif">.</font></font></td>
          </tr><tr>
            <td colspan="7" valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top">&#160;</td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">2.2</font></td>
            <td nowrap valign="top">
            </td>
            <td colspan="3" valign="top" width="100%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Geron&#8217;s obligations to issue and deliver the stock certificate(s)
      representing the Shares to Manufacturer at the Closing shall be subject to
      the following conditions, which may be waived by Geron:</font></td>
          </tr><tr>
            <td colspan="7" valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top">&#160;</td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">&#160;</td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">2.2.1</font></td>
            <td valign="top">&#160;&#160;&#160;&#160;&#160;</td>
            <td valign="top" width="100%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">the covenants and obligations that Manufacturer is required to
      perform or to comply with pursuant to this Agreement, at or prior to the
      Closing, must have been duly performed and complied with in all material
      respects; and</font></td>
          </tr><tr>
            <td colspan="7" valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top">&#160;</td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">&#160;</td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">2.2.2</font></td>
            <td valign="top">
            </td>
            <td valign="top" width="100%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">the representations and warranties made by Manufacturer herein
      shall be true and correct in all material respects as of the Closing
      Date.</font></td>
          </tr><tr>
            <td colspan="7" valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top">&#160;</td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">2.3</font></td>
            <td nowrap valign="top">
            </td>
            <td colspan="3" valign="top" width="100%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Manufacturer&#8217;s obligation to accept delivery of the stock
      certificate(s) representing the Shares at the Closing shall be subject to
      the following conditions, any one or more of which may be waived by
      Manufacturer:</font></td>
          </tr><tr>
            <td colspan="7" valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top">&#160;</td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">&#160;</td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">2.3.1</font></td>
            <td valign="top">
            </td>
            <td valign="top" width="100%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">the covenants and obligations that Geron is required to perform or
      to comply with pursuant to this Agreement, at or prior to the Closing,
      must have been duly performed and complied with in all material
      respects;</font></td>
          </tr><tr>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td valign="top">
            </td>
            <td valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top"><font size="2">2.3.2</font></td>
            <td valign="top">
            </td>
            <td valign="top" width="100%"><font size="2">Geron shall have available under
      its Certificate of Incorporation sufficient authorized shares of Common
      Stock to issue the Shares to Manufacturer; and</font></td>
          </tr><tr>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td valign="top">
            </td>
            <td valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top"><font size="2">2.3.3</font></td>
            <td valign="top">
            </td>
            <td valign="top" width="100%"><font size="2">the representation and warranties
      made by Geron herein shall be true and correct in all material respects as
      of the Closing Date.</font></td>
          </tr></table>
    </div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" style="TEXT-ALIGN: justify; ">
<tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">3.</font></td>
            <td nowrap valign="top">&#160;&#160;&#160;&#160;&#160;</td>
            <td colspan="3" valign="top" width="100%"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: timesnewromanps-italicmt,times new roman,times,serif">RESTRICTIONS ON RESALE OF SHARES</font></font></td>
          </tr><tr>
            <td colspan="5" valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top">&#160;</td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">3.1</font></td>
            <td nowrap valign="top">&#160;&#160;&#160;&#160;&#160;</td>
            <td valign="top" width="100%"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: timesnewromanps-italicmt,times new roman,times,serif">Legends</font></font><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">. Manufacturer understands and acknowledges that the Shares are not
      registered under the Securities Act of 1933 (the &#8220;</font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: timesnewromanps-bolditalicmt,times new roman,times,serif">Act</font></font></font><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">&#8221;), and that under the Act and other applicable laws Manufacturer
      may be required to hold such Shares for an indefinite period of time. Each
      stock certificate representing Shares shall bear the following
      legends:</font></td>
          </tr><tr>
            <td colspan="5" valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top">&#160;</td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">&#160;</td>
            <td nowrap valign="top">
            </td>
            <td valign="top" width="100%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">&#8220;THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER
      THE SECURITIES ACT OF 1933, AS AMENDED (THE &#8220;ACT&#8221;). ANY TRANSFER OF SUCH
      SECURITIES SHALL BE INVALID UNLESS A REGISTRATION STATEMENT UNDER THE ACT
      IS IN EFFECT AS TO SUCH TRANSFER OR, IN THE OPINION OF COUNSEL REASONABLY
      ACCEPTABLE TO GERON, SUCH REGISTRATION IS UNNECESSARY FOR SUCH TRANSFER TO
      COMPLY WITH THE ACT. THE SECURITIES REPRESENTED HEREBY ARE SUBJECT TO THE
      TERMS OF THE COMMON STOCK PURCHASE AGREEMENT BY AND BETWEEN GERON AND
      MANUFACTURER DATED AS OF JANUARY 22, 2010. A COPY OF THE AGREEMENT CAN BE
      OBTAINED FROM THE SECRETARY OF GERON.&#8221;</font></td>
          </tr><tr>
            <td colspan="5" valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top">&#160;</td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">3.2</font></td>
            <td nowrap valign="top">
            </td>
            <td valign="top" width="100%"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: timesnewromanps-italicmt,times new roman,times,serif">Limits on Sales</font></font><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">. Manufacturer agrees that if it decides to resell some or all of
      the Shares, it will do so only through orderly sales executed through a
      top-tier brokerage house, and in an appropriate manner based upon whether
      the shares are registered or unregistered, </font><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: timesnewromanps-italicmt,times new roman,times,serif">i.e., </font></font><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">on the Nasdaq Global Market or in a Rule 144 compliant transaction.
      Manufacturer further agrees that it will not engage in short selling with
      respect to the Shares.</font></td>
          </tr><tr>
            <td colspan="5" valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top">&#160;</td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">3.3</font></td>
            <td nowrap valign="top">
            </td>
            <td valign="top" width="100%"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: timesnewromanps-italicmt,times new roman,times,serif">Further Limitations</font></font><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">. Geron shall not be required (i) to transfer on its books any
      Shares that have been sold or otherwise transferred in violation of any of
      the provisions of this Agreement or applicable securities laws; or (ii) to
      treat as owner of such Shares or to accord the right to vote or pay
      dividends to any purchaser or other transferee to whom such Shares shall
      have been so transferred in violation of any of the provisions of this
      Agreement or applicable securities laws.</font></td>
          </tr><tr>
            <td colspan="5" valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">4.</font></td>
            <td nowrap valign="top">
            </td>
            <td colspan="3" valign="top" width="100%"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: timesnewromanps-italicmt,times new roman,times,serif">REGISTRATION RIGHTS</font></font></td>
          </tr><tr>
            <td colspan="5" valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top">&#160;</td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">4.1</font></td>
            <td nowrap valign="top">
            </td>
            <td valign="top" width="100%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Geron agrees to make commercially reasonable efforts to file with
      the Securities and Exchange Commission (the &#8220;</font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: timesnewromanps-bolditalicmt,times new roman,times,serif">Commission</font></font></font><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">&#8221;) within ten (10) business days after the Closing Date, a
      registration statement under the Act (the &#8220;</font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: timesnewromanps-bolditalicmt,times new roman,times,serif">Registration Statement</font></font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: timesnewromanps-boldmt,times new roman,times,serif">&#8221;</font></font><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">), on Form S-3 or other appropriate form, so as to permit a
      non-underwritten public offering and resale of the Shares under the Act by
      Manufacturer. Geron agrees to diligently pursue making the Registration
      Statement effective. Geron will make commercially reasonable efforts to
      notify Manufacturer of the effectiveness of the Registration Statement
      within one (1) business day of receiving notice from the Commission
      declaring the registration statement effective.</font></td>
          </tr><tr>
            <td colspan="5" valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top">&#160;</td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">4.2</font></td>
            <td nowrap valign="top">
            </td>
            <td valign="top" width="100%">
              <div><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Geron will make commercially reasonable efforts to maintain the
      Registration Statement and any post-effective amendment thereto filed
      under this Section 4 effective under the Act until the earliest of (i) the
      date that none of the Shares covered by such Registration Statement are
      issued and outstanding, (ii) the date that all of the Shares have been
      sold pursuant to such Registration Statement, (iii) the date Manufacturer
      receives an opinion of counsel from Geron, which counsel shall be
      reasonably acceptable to Manufacturer, that the Shares may be sold under
      the provisions of Rule 144 or any similar provision then in effect under
      the Act without limitation as to volume, or (iv) the date that all Shares
      have been </font><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">otherwise transferred to persons who may trade such shares without
      restriction under the Act, and Geron has delivered a new certificate or
      other evidence of ownership for such securities not bearing a restrictive
      legend.</font></div>
            </td>
          </tr></table>
    </div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" style="TEXT-ALIGN: justify; ">
<tr>
            <td nowrap><font size="2">&#160;&#160;&#160;</font></td>
            <td nowrap valign="top">&#160;&#160;&#160;&#160;&#160;</td>
            <td colspan="2" nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">4.3</font></td>
            <td nowrap>&#160;&#160;&#160;&#160;&#160;</td>
            <td width="100%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Geron, at its expense, shall furnish to Manufacturer with respect
      to the Shares registered under the Registration Statement such reasonable
      number of copies of the Registration Statement, prospectuses and
      preliminary prospectuses in conformity with the requirements of the Act
      and such other documents as Manufacturer may reasonably request, in order
      to facilitate the public sale or other disposition of all or any of the
      Shares by Manufacturer, provided, however, that the obligation of Geron to
      deliver copies of prospectuses or preliminary prospectuses to Manufacturer
      shall be subject to the receipt by Geron of reasonable assurances from
      Manufacturer that Manufacturer will comply with the applicable provisions
      of the Act and of such other securities or blue sky laws as may be
      applicable in connection with any use of such prospectuses or preliminary
      prospectuses.</font></td>
          </tr><tr>
            <td colspan="6" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap>&#160;</td>
            <td nowrap valign="top">
            </td>
            <td colspan="2" nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">4.4</font></td>
            <td nowrap>
            </td>
            <td width="100%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">All fees, disbursements and out-of-pocket expenses and costs
      incurred by Geron in connection with the preparation and filing of the
      Registration Statement under Section 4.1 and in complying with applicable
      securities and Blue Sky laws (including, without limitation, all
      attorneys' fees of Geron) shall be borne by Geron. Manufacturer shall bear
      the cost of all fees and expenses of Manufacturer&#8217;s counsel.</font></td>
          </tr><tr>
            <td colspan="6" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap>&#160;</td>
            <td nowrap valign="top">
            </td>
            <td colspan="2" nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">4.5</font></td>
            <td nowrap>
            </td>
            <td width="100%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Geron will advise Manufacturer promptly after it shall receive
      notice or obtain knowledge of the issuance of any stop order by the
      Commission delaying or suspending the effectiveness of the Registration
      Statement or of the initiation of any proceeding for that purpose, and
      Geron will use its commercially reasonable efforts to prevent the issuance
      of any stop order or to obtain its withdrawal at the earliest possible
      moment if such stop order should be issued.</font></td>
          </tr><tr>
            <td colspan="6" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap>&#160;</td>
            <td nowrap valign="top">
            </td>
            <td colspan="2" nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">4.6</font></td>
            <td nowrap>
            </td>
            <td width="100%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">With a view to making available to Manufacturer the benefits of
      Rule 144 (or its successor rule) and any other rule or regulation of the
      Commission that may at the time permit Manufacturer to sell the Shares to
      the public without registration, Geron covenants and agrees to make
      commercially reasonable efforts to: (i) make and keep public information
      available, as those terms are understood and defined in Rule 144, until
      the earliest of (A) such date as all of the Shares may be resold pursuant
      to Rule 144 or any other rule of similar effect or (B) such date as all of
      the Shares shall have been resold; and (ii) file with the Commission in a
      timely manner all reports and other documents required of Geron under the
      Act and under the Securities Exchange Act of 1934, as amended (the
      &#8220;</font><font size="2" style="FONT-FAMILY: timesnewromanps-bolditalicmt,times new roman,times,serif"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic">Exchange
      Act</font></font><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">&#8221;).</font></font></td>
          </tr><tr>
            <td colspan="6" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap>&#160;</td>
            <td nowrap valign="top">
            </td>
            <td colspan="2" nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">4.7</font></td>
            <td nowrap>
            </td>
            <td width="100%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Manufacturer will cooperate with Geron in all respects in
      connection with this Agreement, including timely supplying all information
      reasonably requested by Geron (which shall include all information
      regarding Manufacturer and proposed manner of sale of the Shares required
      to be disclosed in any Registration Statement) and executing and returning
      all documents reasonably requested in connection with the registration and
      sale of the Shares and entering into and performing their obligations
      under any underwriting agreement, if the offering is an underwritten
      offering, in usual and customary form, with the managing underwriter or
      underwriters of such underwritten offering. Nothing in this Agreement
      shall obligate Manufacturer to consent to be named as an underwriter in
      any Registration Statement.</font></td>
          </tr></table>
    </div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" style="TEXT-ALIGN: justify; ">
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            <td nowrap valign="top"><font size="2">5.</font></td>
            <td nowrap valign="top">&#160;&#160;&#160;&#160;&#160;</td>
            <td colspan="3" valign="top" width="100%"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2">INDEMNIFICATION</font></font></td>
          </tr><tr>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top"><font size="2">5.1</font></td>
            <td nowrap valign="top">
            </td>
            <td valign="top" width="100%">
              <div><font size="2">Geron agrees to indemnify and hold harmless Manufacturer
      (and each person, if any, who controls Manufacturer within the meaning of
      Section 15 of the Act, and each officer and director of Manufacturer)
      against any and all losses, claims, damages or liabilities (or actions or
      proceedings in respect thereof), joint or several, directly or indirectly
      based upon or arising out of (i) any untrue statement or alleged untrue
      statement of any material fact contained in the Registration Statement,
      any preliminary prospectus, final prospectus or </font><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">summary prospectus contained therein or used in connection with the
      offering of the Shares, or any amendment or supplement thereto, or (ii)
      any omission or alleged omission to state a material fact required to be
      stated therein or necessary to make the statements therein not misleading;
      and Geron will reimburse each such indemnified party for any legal or any
      other expenses reasonably incurred by them in connection with
      investigating, preparing, pursuing or defending any such loss, claim,
      damage, liability, action or proceeding, except insofar as any such loss,
      claim, damage, liability, action, proceeding or expense arises out of or
      is based upon (A) an untrue statement or alleged untrue statement or
      omission or alleged omission made in the Registration Statement, any such
      preliminary prospectus, final prospectus, summary prospectus, amendment or
      supplement in reliance upon and in conformity with written information
      furnished to Geron by or on behalf of Manufacturer or such other person
      expressly for use in the preparation thereof, (B) the failure of
      Manufacturer to comply with its covenants and agreements contained in
      Sections 7.1 or 7.5.3 hereof or (C) any misstatement or omission in any
      prospectus that is corrected in any subsequent prospectus that was
      delivered to Manufacturer prior to the pertinent sale or sales by
      Manufacturer. Such indemnity shall remain in full force and effect,
      regardless of any investigation made by such indemnified party and shall
      survive the transfer of the Shares by Manufacturer.</font></div>
            </td>
          </tr><tr>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">5.2</font></td>
            <td nowrap valign="top">
            </td>
            <td valign="top" width="100%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Manufacturer agrees to indemnify and hold harmless Geron (and each
      person, if any, who controls Geron within the meaning of Section 15 of the
      Act, and each officer and director of Geron) from and against losses,
      claims, damages or liabilities (or actions or proceedings in respect
      thereof), joint or several, directly or indirectly based upon or arising
      out of, (i) any failure of Manufacturer to comply with the covenants and
      agreements contained in Sections 7.1 and 7.5.3 hereof or (ii) any untrue
      statement of a material fact contained in the Registration Statement or
      any omission of a material fact required to be stated in the Registration
      Statement or necessary in order to make the statements in the Registration
      Statement not misleading if such untrue statement or omission was made in
      reliance upon and in conformity with written information furnished to
      Geron by or on behalf of Manufacturer specifically for use in preparation
      of the Registration Statement; provided, however, that Manufacturer shall
      not be liable in any such case for (A) any untrue statement or omission in
      the Registration Statement, prospectus, or other such document which
      statement is corrected by Manufacturer and delivered to Geron prior to the
      sale from which such loss occurred, (B) any untrue statement or omission
      in any prospectus which is corrected by Manufacturer in any subsequent
      prospectus, or supplement or amendment thereto, and delivered to Geron
      prior to the sale or sales from which a loss or liability arose, or (C)
      any failure by Geron to fulfill any of its obligations under Section 5.1
      hereof.</font></td>
          </tr><tr>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">5.3</font></td>
            <td nowrap valign="top">
            </td>
            <td valign="top" width="100%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Promptly after receipt by any indemnified person of a notice of a
      claim or the beginning of any action in respect of which indemnity is to
      be sought against an indemnifying person pursuant to this Section 5, such
      indemnified person shall notify the indemnifying person in writing of such
      claim or of the commencement of such action, but the omission to so notify
      the indemnifying party will not relieve it from any liability which it may
      have to any indemnified party under this Section 5 (except to the extent
      that such omission materially and adversely affects the indemnifying
      party&#8217;s ability to defend such action) or from any liability otherwise
      than under this Section 5. Subject to the provisions hereinafter stated,
      in case any such action shall be brought against an indemnified person,
      the indemnifying person shall be entitled to participate therein, and, to
      the extent that it shall elect by written notice delivered to the
      indemnified party promptly after receiving the aforesaid notice from such
      indemnified party, shall be entitled to assume the defense thereof, with
      counsel reasonably satisfactory to such indemnified person. After notice
      from the indemnifying person to such indemnified person of its election to
      assume the defense thereof, such indemnifying person shall not be liable
      to such indemnified person for any legal expense subsequently incurred by
      such indemnified person in connection with the defense thereof, provided,
      however, that if there exists or shall exist a conflict of interest that
      would make inappropriate, in the reasonable opinion of counsel to the
      indemnified person, for the same counsel to represent both the indemnified
      person and such indemnifying person or any affiliate or associate thereof,
      the indemnified person shall be entitled to retain its own </font><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">counsel at the expense of such indemnifying person; provided,
      however, that no indemnifying person shall be responsible for the fees and
      expenses of more than one separate counsel (together with appropriate
      local counsel) for all indemnified parties. In no event shall any
      indemnifying person be liable in respect to any amounts paid in settlement
      of any action unless the indemnifying person shall have approved the terms
      of such settlement. No indemnifying person shall, without the prior
      written consent of the indemnified person, effect any settlement of any
      pending or threatened proceeding in respect of which any indemnified
      person is or could have been a party and indemnification could have been
      sought hereunder by such indemnified person, unless such settlement
      includes an unconditional release of such indemnified person from all
      liability on claims that are the subject matter of such
    proceeding.</font></td>
          </tr><tr>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top"><font size="2">5.4</font></td>
            <td nowrap valign="top">&#160;&#160;&#160;&#160;&#160;</td>
            <td valign="top" width="100%"><font size="2">The provisions of this Section 5
      shall survive the termination of this
Agreement.</font></td>
          </tr></table>
    </div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
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<tr>
            <td nowrap valign="top"><font size="2">6.</font></td>
            <td nowrap valign="top">
            </td>
            <td colspan="3" valign="top" width="100%"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2">REPRESENTATIONS
      AND ACKNOWLEDGEMENT OF GERON</font></font></td>
          </tr><tr>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td colspan="3" valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top">&#160;</td>
            <td nowrap valign="top">
            </td>
            <td colspan="3" valign="top" width="100%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Geron hereby represents, warrants and covenants to Manufacturer as
      follows:</font></td>
          </tr><tr>
            <td colspan="5" valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top">&#160;</td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">6.1</font></td>
            <td nowrap valign="top">
            </td>
            <td valign="top" width="100%"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: timesnewromanps-italicmt,times new roman,times,serif">Organization, Good Standing and Qualification</font></font><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">. Geron is a corporation duly organized, validly existing and in
      good standing under the laws of the State of Delaware and has all
      requisite corporate power and authority to carry on its business as now
      conducted and as presently proposed to be conducted. Geron is duly
      qualified to transact business and is in good standing as a foreign
      corporation in each jurisdiction in which the failure to so qualify would
      have a material adverse effect on its business or properties.</font></td>
          </tr><tr>
            <td colspan="5" valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top">&#160;</td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">6.2</font></td>
            <td nowrap valign="top">
            </td>
            <td valign="top" width="100%"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: timesnewromanps-italicmt,times new roman,times,serif">Authorization</font></font><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">. All corporate action on the part of Geron, its officers,
      directors and stockholders necessary for the authorization, execution and
      delivery of this Agreement, the performance of all obligations of Geron
      hereunder and the authorization, issuance and delivery of the Shares has
      been taken or will be taken prior to the Closing, and this Agreement, when
      executed and delivered will constitute valid and legally binding
      obligations of Geron, enforceable against Geron in accordance with its
      terms, except as limited by applicable bankruptcy, insolvency,
      reorganization, moratorium, fraudulent conveyance and other laws of
      general application affecting enforcement of creditors&#8217; rights generally,
      as limited by laws relating to the availability of specific performance,
      injunctive relief or other equitable remedies.</font></td>
          </tr><tr>
            <td colspan="5" valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top">&#160;</td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">6.3</font></td>
            <td nowrap valign="top">
            </td>
            <td valign="top" width="100%"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: timesnewromanps-italicmt,times new roman,times,serif">Valid Issuance of Common Stock</font></font><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">. The Shares, when issued, sold and delivered in accordance with
      the terms hereof for the consideration expressed herein, will be duly and
      validly authorized and issued, fully paid and nonassessable and free of
      restrictions on transfer other than restrictions on transfer under this
      Agreement and applicable state and federal securities laws.</font></td>
          </tr><tr>
            <td colspan="5" valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top">&#160;</td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">6.4</font></td>
            <td nowrap valign="top">&#160;&#160;&#160;&#160;&#160;</td>
            <td valign="top" width="100%"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: timesnewromanps-italicmt,times new roman,times,serif">Legal Proceedings and Orders</font></font><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">. There is no action, suit, proceeding or investigation pending or
      threatened against Geron that questions the validity of this Agreement or
      the right of Geron to enter into this Agreement or to consummate the
      transactions contemplated hereby, nor is Geron aware of any basis for any
      of the foregoing. Geron is neither a party nor subject to the provisions
      of any order, writ, injunction, judgment or decree of any court or
      government agency or instrumentality that would affect the ability of
      Geron to enter into this Agreement or to consummate the transactions
      contemplated hereby.</font></td>
          </tr><tr>
            <td colspan="5" valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">7.</font></td>
            <td nowrap valign="top">&#160;&#160;&#160;&#160;&#160;</td>
            <td colspan="3" valign="top" width="100%"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: timesnewromanps-italicmt,times new roman,times,serif">REPRESENTATIONS AND ACKNOWLEDGEMENTS OF
    MANUFACTURER</font></font></td>
          </tr><tr>
            <td colspan="5" valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td colspan="3" valign="top" width="100%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Manufacturer hereby represents, warrants, acknowledges and agrees
      that:</font></td>
          </tr><tr>
            <td colspan="5" valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top">&#160;</td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">7.1</font></td>
            <td nowrap valign="top">
            </td>
            <td valign="top" width="100%"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: timesnewromanps-italicmt,times new roman,times,serif">Investment</font></font><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">. Manufacturer is acquiring the Shares for Manufacturer&#8217;s own
      account, and not directly or indirectly for the account of any other
      person. Manufacturer is acquiring the Shares for investment and not with a
      view to distribution or resale thereof, except in compliance with the Act
      and any applicable state law regulating
securities.</font></td>
          </tr></table>
    </div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" style="TEXT-ALIGN: justify; ">
<tr>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">7.2</font></td>
            <td nowrap valign="top">
            </td>
            <td colspan="3" valign="top" width="100%">
              <div><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: timesnewromanps-italicmt,times new roman,times,serif">Access to Information. </font></font><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Manufacturer has consulted with its own attorney, accountant, or
      investment advisor as Manufacturer has deemed advisable with respect to
      the investment and has determined its suitability for Manufacturer.
      Manufacturer has had the opportunity to ask questions of, and to receive
      answers from, appropriate executive officers of Geron with respect to the
      terms and conditions of the transactions contemplated hereby and with
      respect to the business, affairs, financial condition and results of
      operations of Geron. </font><font size="2">Manufacturer has had access to
      such financial and other information as is necessary in order for
      Manufacturer to make a fully informed decision as to investment in Geron,
      and has had the opportunity to obtain any additional information necessary
      to verify any of such information to which Manufacturer has had access.
      Manufacturer acknowledges that neither Geron nor any of its officers,
      directors, employees, agents, representatives, or advisors have made any
      representation or warranty other than those specifically expressed
      herein.</font></div>
            </td>
          </tr><tr>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td colspan="5" valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">7.3</font></td>
            <td nowrap valign="top">
            </td>
            <td colspan="3" valign="top" width="100%"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: timesnewromanps-italicmt,times new roman,times,serif">Business and Financial Expertise. </font></font><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Manufacturer further represents and warrants that it has such
      business or financial expertise as to be able to evaluate its investment
      in Geron and purchase of the Shares.</font></td>
          </tr><tr>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td colspan="5" valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">7.4</font></td>
            <td nowrap valign="top">
            </td>
            <td colspan="3" valign="top" width="100%"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: timesnewromanps-italicmt,times new roman,times,serif">Speculative Investment. </font></font><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Manufacturer acknowledges that the investment in Geron represented
      by the Shares is highly speculative in nature and is subject to a high
      degree of risk of loss in whole or in part; the amount of such investment
      is within Manufacturer&#8217;s risk capital means and is not so great in
      relation to Manufacturer&#8217;s total financial resources as would jeopardize
      the personal financial needs of Manufacturer in the event such investment
      were lost in whole or in part.</font></td>
          </tr><tr>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td colspan="5" valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">7.5</font></td>
            <td nowrap valign="top">
            </td>
            <td colspan="3" valign="top" width="100%"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: timesnewromanps-italicmt,times new roman,times,serif">Unregistered Securities. </font></font><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Manufacturer acknowledges that:</font></td>
          </tr><tr>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td colspan="5" valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">&#160;</td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">7.5.1</font></td>
            <td nowrap valign="top">&#160;&#160;&#160;&#160;&#160;</td>
            <td valign="top" width="100%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Manufacturer must bear the economic risk of investment for an
      indefinite period of time because the Shares have not been registered
      under the Act and therefore cannot and will not be sold unless they are
      subsequently registered under the Act or an exemption from such
      registration is available. Geron has made no agreements, covenants or
      undertakings whatsoever to register any of the Shares under the Act,
      except as provided in Section 4 above. Geron has made no representations,
      warranties or covenants whatsoever as to whether any exemption from the
      Act, including, without limitation, any exemption for limited sales in
      routine brokers&#8217; transactions pursuant to Rule 144 under the Act, will
      become available and any such exemption pursuant to Rule 144, if available
      at all, will not be available unless: (i) a public trading market then
      exists in Geron&#8217;s common stock, (ii) Geron has complied with the
      information requirements of Rule 144, and (iii) all other terms and
      conditions of Rule 144 have been satisfied.</font></td>
          </tr><tr>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td colspan="5" valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">&#160;</td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">7.5.2</font></td>
            <td nowrap valign="top">
            </td>
            <td valign="top" width="100%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Transfer of the Shares has not been registered or qualified under
      any applicable state law regulating securities and, therefore, the Shares
      cannot and will not be sold unless they are subsequently registered or
      qualified under any such act or an exemption therefrom is available. Geron
      has made no agreements, covenants or undertakings whatsoever to register
      or qualify any of the Shares under any such act. Geron has made no
      representations, warranties or covenants whatsoever as to whether any
      exemption from any such act will become available.</font></td>
          </tr><tr>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td colspan="5" valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">&#160;</td>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">7.5.3</font></td>
            <td nowrap valign="top">&#160;&#160;&#160;&#160;&#160;</td>
            <td valign="top" width="100%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Manufacturer hereby certifies that it is an &#8220;</font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: timesnewromanps-bolditalicmt,times new roman,times,serif">Accredited Investor</font></font></font><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">&#8221; as that term is defined in Rule 501 under the Act.</font></td>
          </tr><tr>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td colspan="5" valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top">&#160;&#160;</td>
            <td nowrap valign="top">&#160;&#160;&#160;&#160;&#160;</td>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">7.6</font></td>
            <td nowrap valign="top">&#160;&#160;&#160;&#160;&#160;</td>
            <td colspan="3" valign="top" width="100%">
              <div><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: timesnewromanps-italicmt,times new roman,times,serif">Authorization</font></font><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">. Manufacturer has full right, power, authority and capacity to
      enter into this Agreement and to consummate the transactions contemplated
      hereby and thereby and has taken all necessary action to authorize the
      execution, delivery and performance of this Agreement. Upon execution and
      delivery, this Agreement will constitute a valid and binding obligation of
      Manufacturer enforceable against Manufacturer in accordance with its
      terms, except as such enforceability may be limited by applicable
      bankruptcy, insolvency, </font><font size="2">reorganization, moratorium,
      fraudulent transfer, liquidation or similar laws relating to, or affecting
      generally, the enforcement of creditor's rights and remedies or by other
      equitable principles of general application from time to time in
      effect.</font></div>
            </td>
          </tr></table>
    </div>
    <div>&#160;</div>
    <hr align="center" noshade size="2" width="100%">
    <div id="PN" style="PAGE-BREAK-BEFORE: always">
    </div><br>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" style="TEXT-ALIGN: justify; ">
<tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">8.</font></td>
            <td nowrap valign="top">&#160;&#160;&#160;&#160;&#160;</td>
            <td valign="top" width="100%"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: timesnewromanps-italicmt,times new roman,times,serif">TAX ADVICE</font></font><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">. Manufacturer acknowledges that Manufacturer has not relied and
      will not rely upon Geron or Geron&#8217;s counsel with respect to any tax
      consequences related to the ownership, purchase, or disposition of the
      Shares. Manufacturer assumes full responsibility for all such consequences
      and for the preparation and filing of all tax returns and elections which
      may or must be filed in connection with the Shares.</font></td>
          </tr><tr>
            <td colspan="3" valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">9.</font></td>
            <td nowrap valign="top">
            </td>
            <td valign="top" width="100%"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: timesnewromanps-italicmt,times new roman,times,serif">NOTICES</font></font><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">. Any notice or other communication required or permitted hereunder
      shall be in writing and shall be deemed to have been duly given on the
      date of delivery if delivered personally or by facsimile, or one day, not
      including Saturdays, Sundays, or national holidays, after sending if sent
      by national overnight delivery service, or five days, not including
      Saturdays, Sundays, or national holidays, after mailing if mailed by first
      class United States mail, certified or registered with return receipt
      requested, postage prepaid, and addressed as
follows:</font></td>
          </tr></table>
    </div>&#160;<br>
    <div align="center">
      <table border="0" cellpadding="0" cellspacing="0" width="50%" style="">
<tr valign="bottom">
            <td align="left" nowrap width="93%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">To Geron at:</font></td>
            <td align="left" colspan="2" nowrap width="6%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Geron Corporation</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="93%">
            </td>
            <td align="left" colspan="2" nowrap width="6%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">230 Constitution Drive</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="93%">
            </td>
            <td align="left" colspan="2" nowrap width="6%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Menlo Park, California 94025</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="93%">
            </td>
            <td align="left" colspan="2" nowrap width="6%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Attention: Senior Director, Legal</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="93%">
            </td>
            <td align="left" nowrap width="2%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Telephone:</font></td>
            <td align="left" nowrap width="4%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (650)
      473-7700</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="93%">
            </td>
            <td align="left" nowrap width="2%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Facsimile:</font></td>
            <td align="left" nowrap width="4%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (650)
      473-7750</font></td>
          </tr><tr>
            <td colspan="3" width="99%">&#160;</td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="93%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">To Manufacturer at:</font></td>
            <td align="left" colspan="2" nowrap width="6%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Kris S. Choi</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="93%">
            </td>
            <td align="left" colspan="2" nowrap width="6%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">General Manager,</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="93%">
            </td>
            <td align="left" colspan="2" nowrap width="6%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Marketing and Business Development</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="93%">
            </td>
            <td align="left" colspan="2" nowrap width="6%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">8F Samtan Bldg.</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="93%">
            </td>
            <td align="left" colspan="2" nowrap width="6%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Samchully Pharm. Co., Ltd.</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="93%">
            </td>
            <td align="left" colspan="2" nowrap width="6%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">947-7, Daechi-dong, Gangnam-gu</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="93%">
            </td>
            <td align="left" colspan="2" nowrap width="6%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Seoul, Korea 135-735</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="93%">
            </td>
            <td align="left" colspan="2" nowrap width="6%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">e-mail: choicsw@samchullypharm.com</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="93%">
            </td>
            <td align="left" nowrap width="2%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Telephone:</font></td>
            <td align="left" nowrap width="4%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">+82 (0)2-527-6329</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="93%">
            </td>
            <td align="left" nowrap width="2%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Facsimile:</font></td>
            <td align="left" nowrap width="4%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">+82 (0)2-561-6006</font></td>
          </tr></table>
    </div><br>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" style="TEXT-ALIGN: justify; ">
<tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">10.</font></td>
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      representatives and successors of Geron and of Manufacturer; provided,
      however, that Manufacturer may not assign any rights or obligations under
      this Agreement.</font></td>
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            <td colspan="3" valign="top" width="100%">&#160;</td>
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            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">11.</font></td>
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      with the laws of the State of California.</font></td>
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            <td colspan="3" valign="top" width="100%">&#160;</td>
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            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">12.</font></td>
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            <td valign="top" width="100%"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: timesnewromanps-italicmt,times new roman,times,serif">INVALID PROVISIONS. </font></font><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">In the event that any provision of this Agreement is found to be
      invalid or otherwise unenforceable by a court or other tribunal of
      competent jurisdiction, such invalidity or unenforceability shall not be
      construed as rendering any other provision contained herein invalid or
      unenforceable, and all such other provisions shall be given full force and
      effect to the same extent as though the invalid and unenforceable
      provision was not contained herein.</font></td>
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            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">13.</font></td>
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            <td valign="top" width="100%"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: timesnewromanps-italicmt,times new roman,times,serif">COUNTERPARTS. </font></font><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">This Agreement may be executed in any number of identical
      counterparts, each of which shall be deemed an original, but all of which
      together shall constitute one and the same instrument.</font></td>
          </tr><tr>
            <td colspan="3" valign="top" width="100%">&#160;</td>
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            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">14.</font></td>
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            <td valign="top" width="100%"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: timesnewromanps-italicmt,times new roman,times,serif">AMENDMENTS</font></font><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">. This Agreement or any provision hereof may be changed, waived, or
      terminated only by a statement in writing signed by the party against whom
      such change, waiver or termination is sought to be enforced.</font></td>
          </tr><tr>
            <td colspan="3" valign="top" width="100%">&#160;</td>
          </tr><tr>
            <td nowrap valign="top"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">15.</font></td>
            <td nowrap valign="top">
            </td>
            <td valign="top" width="100%"><font style="DISPLAY: inline; FONT-STYLE: italic"><font size="2" style="FONT-FAMILY: timesnewromanps-italicmt,times new roman,times,serif">FUTURE COOPERATION</font></font><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">. Each of the parties hereto agrees to cooperate at all times from
      and after the date hereof with respect to all of the matters described
      herein, and to execute such further assignments, releases, assumptions,
      amendments of the Agreement, notifications and other documents as may be
      reasonably requested for the purpose of giving effect to, or evidencing or
      giving notice of, the transactions contemplated by this
    Agreement.</font></td>
          </tr><tr>
            <td nowrap valign="top">
            </td>
            <td nowrap valign="top">
            </td>
            <td valign="top" width="100%">&#160;</td>
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            <td nowrap valign="top"><font size="2">16.</font></td>
            <td nowrap valign="top">
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            <td valign="top" width="100%"><font size="2"><font style="DISPLAY: inline; FONT-STYLE: italic">ENTIRE AGREEMENT</font><font style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">. This
      Agreement and the Manufacturing Agreement, including all Addenda thereto,
      constitute the entire agreement of the parties pertaining to the Shares
      and supersede all prior and contemporaneous agreements, representations,
      and understandings of the parties with respect
  thereto.</font></font></td>
          </tr></table>
    </div>
    <div align="center"><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">&#160;</font></div>
    <div align="center"><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">*SIGNATURES BEGIN ON NEXT PAGE* </font></div>
    <div>&#160;</div>
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    </div><br>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">IN
WITNESS WHEREOF, the parties hereto have executed this Common Stock Purchase
Agreement as of the date first above written. </font></div>
    <div>&#160;</div>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" width="100%" style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse; ">
<tr valign="bottom">
            <td align="left" nowrap width="49%">
            </td>
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          </tr><tr>
            <td align="left" nowrap width="49%">
            </td>
            <td align="left" colspan="3" nowrap width="51%">&#160;</td>
          </tr><tr>
            <td align="left" nowrap width="49%">
            </td>
            <td align="left" colspan="3" nowrap width="51%">&#160;</td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="49%">
            </td>
            <td align="left" colspan="3" nowrap width="51%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">/s/ David L. Greenwood</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="49%">&#160;</td>
            <td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">By:</font></td>
            <td align="left" nowrap width="1%">&#160;&#160;&#160;&#160;&#160;</td>
            <td align="left" nowrap width="49%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">David L. Greenwood</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="49%">
            </td>
            <td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Title:</font></td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="49%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Chief Financial Officer</font></td>
          </tr><tr>
            <td align="left" nowrap width="49%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="49%">&#160;</td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="49%">
            </td>
            <td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Date:</font></td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="49%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">January 22, 2010</font></td>
          </tr><tr>
            <td width="49%">
            </td>
            <td colspan="3" width="51%">&#160; </td>
          </tr><tr>
            <td width="49%">
            </td>
            <td colspan="3" width="51%">&#160;</td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="49%">
            </td>
            <td align="left" colspan="3" nowrap width="51%"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: timesnewromanps-boldmt,times new roman,times,serif">Samchully Pharm. Co., Ltd.</font></font></td>
          </tr><tr>
            <td align="left" nowrap width="49%">
            </td>
            <td align="left" colspan="3" nowrap width="51%">&#160;</td>
          </tr><tr>
            <td align="left" nowrap width="49%">
            </td>
            <td align="left" colspan="3" nowrap width="51%">&#160;</td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="49%">
            </td>
            <td align="left" colspan="3" nowrap width="51%" style="BORDER-BOTTOM: #000000 1pt solid"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">/s/ Moon-Hee Kim</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="49%">
            </td>
            <td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">By:</font></td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="49%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Moon-Hee Kim</font></td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="49%">
            </td>
            <td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Title:</font></td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="49%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Director, Business Development</font></td>
          </tr><tr>
            <td align="left" nowrap width="49%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="49%">&#160;</td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="49%">
            </td>
            <td align="left" nowrap width="1%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Date:</font></td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="49%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">January 22, 2010</font></td>
          </tr></table>
    </div><br>
    <hr align="center" noshade size="2" width="100%">
  </body>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>3
<FILENAME>exhibit5-1.htm
<DESCRIPTION>OPINION OF LATHAM &AMP; WATKINS LLP
<TEXT>
<html>
<head>
    <title>exhibit5-1.htm</title>
<!-- Licensed to: DG3 I Docs, Inc.-->
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<body>
    <div align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font></div>
    <div align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">EXHIBIT 5.1 </font></font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">OPINION OF LATHAM &amp; WATKINS LLP</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="FONT-FAMILY: TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
</font></font></div>
    <div>&#160;</div>
    <div align="center"><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">[Latham &amp; Watkins Letterhead] </font></div>
    <div>&#160;</div>
    <div align="left"><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">January 27, 2010 </font></div>
    <div>&#160;</div>
    <div align="left"><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">Geron
Corporation <br>230 Constitution Drive <br>Menlo Park, CA 94025 </font></div>
    <div>&#160;</div>
    <div align="left"><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">Re:
REGISTRATION OF 287,401 SHARES OF COMMON STOCK, $0.001 PAR VALUE PER SHARE, OF
GERON CORPORATION, PURSUANT TO A REGISTRATION STATEMENT ON FORM S-3
</font></div>
    <div>&#160;</div>
    <div align="left"><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">Ladies
and Gentlemen: </font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">We
have acted as special counsel to Geron Corporation, a Delaware corporation (the
&#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">Company</font></font><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">&#8221;), in
connection with the registration for resale 287,401 shares of common stock,
$0.001 par value per share (the &#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">Shares</font></font><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">&#8221;),
issued to Samchully Pharm. Co., Ltd., a Korean corporation (&#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">Samchully</font></font><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">&#8221;),
pursuant to the Common Stock Purchase Agreement dated as of January 22, 2010, by
and between the Company and Samchully. The Shares are included in a registration
statement on Form S&#8211;3 under the Securities Act of 1933, as amended (the
&#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">Act</font></font><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">&#8221;),
filed with the Securities and Exchange Commission (the &#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">Commission</font></font><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">&#8221;) on
January 27, 2010 (the &#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">Registration Statement</font></font><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">&#8221;).
This opinion is being furnished in connection with the requirements of Item
601(b)(5) of Regulation S-K under the Act, and no opinion is expressed herein as
to any matter pertaining to the contents of the Registration Statement or the
related prospectus forming a part thereof (the &#8220;</font><font style="DISPLAY: inline; TEXT-DECORATION: underline"><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">Prospectus</font></font><font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">&#8221;),
other than as expressly stated herein with respect to the issue of the Shares.
</font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">As
such counsel, we have examined such matters of fact and questions of law as we
have considered appropriate for purposes of this letter. With your consent, we
have relied upon certificates and other assurances of officers of the Company
and others as to factual matters without having independently verified such
factual matters. We are opining herein as to General Corporation Law of the
State of Delaware, and we express no opinion with respect to any other laws.
</font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">Subject to the foregoing and the other matters set forth herein, it is
our opinion that, as of the date hereof, the issue and sale of the Shares have
been duly authorized by all necessary corporate action of the Company, and the
Shares are validly issued, fully paid and nonassessable. </font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">This
opinion is for your benefit in connection with the Registration Statement and
may be relied upon by you and by persons entitled to rely upon it pursuant to
the applicable provisions of the Act. We consent to your filing this opinion as
an exhibit to the Registration Statement and to the reference to our firm in the
Prospectus under the heading &#8220;Validity of the Securities.&#8221; In giving such
consent, we do not thereby admit that we are in the category of persons whose
consent is required under Section 7 of the Act or the rules and regulations of
the Commission thereunder. </font></div>
    <div>&#160;</div>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" width="100%" style="">
<tr valign="bottom">
            <td align="left" nowrap width="50%">
            </td>
            <td align="left" nowrap width="50%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Very truly yours,</font></td>
          </tr><tr>
            <td align="left" nowrap width="50%">
            </td>
            <td align="left" nowrap width="50%">&#160;</td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="50%">
            </td>
            <td align="left" nowrap width="50%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">/s/ Latham &amp; Watkins LLP</font></td>
          </tr></table>
    </div><br>
    <hr align="center" noshade size="2" width="100%">
  </body>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.2
<SEQUENCE>4
<FILENAME>exhibit23-2.htm
<DESCRIPTION>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
<TEXT>
<html>
<head>
    <title>exhibit23-2.htm</title>
<!-- Licensed to: DG3 I Docs, Inc.-->
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</head>
<body>
    <div align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;</font></div>
    <div align="right"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">EXHIBIT 23.2 </font></font></div>
    <div>&#160;</div>
    <div align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font size="2" style="FONT-FAMILY: TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING
FIRM</font></font><font style="DISPLAY: inline; FONT-WEIGHT: bold"><font style="FONT-FAMILY: TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">
</font></font></div>
    <div>&#160;</div>
    <div align="left">&#160;&#160;&#160;&#160;&#160;<font size="2" style="FONT-FAMILY: TimesNewRomanPSMT,Times New Roman,Times,serif">We
consent to the reference to our firm under the caption &#8220;Experts&#8221; in the
Registration Statement (Form S-3) and related Prospectus of Geron Corporation
for the registration of 287,401 shares of its common stock and to the
incorporation by reference therein of our reports dated February 25, 2009, with
respect to the consolidated financial statements of Geron Corporation and the
effectiveness of internal control over financial reporting of Geron Corporation,
included in its Annual Report (Form 10-K) for the year ended December 31, 2008,
filed with the Securities and Exchange Commission. </font></div>
    <div>&#160;</div>
    <div>
      <table border="0" cellpadding="0" cellspacing="0" width="100%" style="">
<tr valign="bottom">
            <td align="left" nowrap width="49%">&#160; </td>
            <td align="left" nowrap width="1%">&#160;&#160;&#160;&#160;&#160;</td>
            <td align="left" nowrap width="50%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">/s/ Ernst &amp; Young LLP</font></td>
          </tr><tr>
            <td colspan="3" width="100%">&#160; </td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="49%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">Palo Alto, California</font></td>
            <td align="left" nowrap width="1%">
            </td>
            <td align="left" nowrap width="50%">&#160;</td>
          </tr><tr valign="bottom">
            <td align="left" nowrap width="49%"><font size="2" style="FONT-FAMILY: timesnewromanpsmt,times new roman,times,serif">January 26, 2010</font></td>
            <td align="left" nowrap width="1%">&#160;</td>
            <td align="left" nowrap width="50%">&#160; </td>
          </tr></table>
    </div><br>
    <hr align="center" noshade size="2" width="100%">
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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