<SEC-DOCUMENT>0001206774-14-002419.txt : 20140812
<SEC-HEADER>0001206774-14-002419.hdr.sgml : 20140812
<ACCEPTANCE-DATETIME>20140811161034
ACCESSION NUMBER:		0001206774-14-002419
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20140811
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20140811
DATE AS OF CHANGE:		20140811

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:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-20859
		FILM NUMBER:		141030667

	BUSINESS ADDRESS:	
		STREET 1:		149 COMMONWEALTH DRIVE
		STREET 2:		SUITE 2070
		CITY:			MENLO PARK
		STATE:			CA
		ZIP:			94025
		BUSINESS PHONE:		6504737700

	MAIL ADDRESS:	
		STREET 1:		149 COMMONWEALTH DRIVE
		STREET 2:		SUITE 2070
		CITY:			MENLO PARK
		STATE:			CA
		ZIP:			94025

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GERON CORPORATION
		DATE OF NAME CHANGE:	19960521
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>geron_8k.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>

<HTML>
<HEAD>
   <TITLE></TITLE>
</HEAD>

<BODY bgcolor=#ffffff>
<BR>
<P align=center><B><FONT face="Times New Roman" size=2>UNITED
STATES<BR></FONT></B><B><FONT face="Times New Roman" size=2>SECURITIES AND
EXCHANGE COMMISSION<BR>WASHINGTON, D.C. 20549 <BR>___________<BR></FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2>FORM 8-K </FONT></B></P>

<P align=center><B><FONT face="Times New Roman" size=2>CURRENT
REPORT<br>PURSUANT TO SECTION 13 OR
15(d) OF THE<BR>SECURITIES EXCHANGE ACT OF 1934</FONT></B><FONT face="Times New Roman" size=2> </FONT></P>
<P align=center><FONT face="Times New Roman" size=2>Date of Report (Date of
earliest event reported): </FONT><B><FONT face="Times New Roman" size=2>August
11, 2014</FONT></B><FONT face="Times New Roman" size=2> </FONT></P>
<P align=center><B><FONT face="Times New Roman" size=2>GERON
CORPORATION<BR></FONT></B><FONT face="Times New Roman" size=2>(Exact name of
registrant as specified in its charter) </FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="33%"><B><FONT face="Times New Roman" size=2>Delaware</FONT></B></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD noWrap style="text-align: center" width="32%"><B><FONT face="Times New Roman" size=2>0-20859</FONT></B></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD noWrap style="text-align: center" width="32%"><B><FONT face="Times New Roman" size=2>75-2287752</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="33%"><FONT face="Times New Roman" size=2>(State or other jurisdiction</FONT></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;</TD>
    <TD noWrap style="text-align: center" width="32%"><FONT face="Times New Roman" size=2>(Commission File Number)</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="32%"><FONT face="Times New Roman" size=2>(IRS
      Employer</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="33%"><FONT face="Times New Roman" size=2>of
      incorporation)</FONT></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="32%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="32%"><FONT face="Times New Roman" size=2>Identification No.)</FONT></TD></TR></TABLE><BR>
<P align=center><B><FONT face="Times New Roman" size=2>149 COMMONWEALTH DRIVE,
SUITE 2070<BR>MENLO PARK, CALIFORNIA 94025 <BR></FONT></B><FONT face="Times New Roman" size=2>(Address of principal executive offices, including
zip code) </FONT></P>
<P align=center><B><FONT face="Times New Roman" size=2>(650)
473-7700<BR></FONT></B><FONT face="Times New Roman" size=2>(Registrant&#146;s
telephone number, including area code) </FONT></P>
<P align=center><B><FONT face="Times New Roman" size=2>N/A <BR></FONT></B><FONT face="Times New Roman" size=2>(Former name or former address, if changed since
last report) </FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Check the appropriate box
below if the Form 8-K filing is intended to simultaneously satisfy the filing
obligation of the registrant under any of the following provisions: </FONT></P>
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR>
    <TD style="VERTICAL-ALIGN: top; TEXT-ALIGN: left" width="1%"><FONT face=wingdings size=2>o</FONT></TD>
    <TD style="VERTICAL-ALIGN: top; TEXT-ALIGN: left" width="1%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD style="VERTICAL-ALIGN: top; TEXT-ALIGN: left" width="98%">
      <P><FONT face="Times New Roman" size=2>Written communications pursuant to
      Rule 425 under the Securities Act (17 CFR 230.425)</FONT></P></TD></TR>
  <TR>
    <TD width="1%"><FONT face="Times New Roman" size=2>&nbsp;</FONT></TD>
    <TD width="1%"><FONT face="Times New Roman" size=2>&nbsp;</FONT></TD>
    <TD width="98%"><FONT face="Times New Roman" size=2>&nbsp;</FONT></TD></TR>
  <TR>
    <TD style="VERTICAL-ALIGN: top; TEXT-ALIGN: left" width="1%"><FONT face=Wingdings size=2>o</FONT></TD>
    <TD style="VERTICAL-ALIGN: top; TEXT-ALIGN: left" width="1%"></TD>
    <TD style="VERTICAL-ALIGN: top; TEXT-ALIGN: left" width="98%">
      <P><FONT face="Times New Roman" size=2>Soliciting material pursuant to
      Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></P></TD></TR>
  <TR>
    <TD width="1%"><FONT face="Times New Roman" size=2>&nbsp;</FONT></TD>
    <TD width="1%"><FONT face="Times New Roman" size=2>&nbsp;</FONT></TD>
    <TD width="98%"><FONT face="Times New Roman" size=2>&nbsp;</FONT></TD></TR>
  <TR>
    <TD style="VERTICAL-ALIGN: top; TEXT-ALIGN: left" width="1%"><FONT face=Wingdings size=2>o</FONT></TD>
    <TD style="VERTICAL-ALIGN: top; TEXT-ALIGN: left" width="1%"></TD>
    <TD style="VERTICAL-ALIGN: top; TEXT-ALIGN: left" width="98%">
      <P><FONT face="Times New Roman" size=2>Pre-commencement communications
      pursuant to Rule 14d-2(b) under the Exchange Act (17 </FONT><FONT face="Times New Roman" size=2>CFR 240.14d-2(b))</FONT></P></TD></TR>
  <TR>
    <TD width="1%"><FONT face="Times New Roman" size=2>&nbsp;</FONT></TD>
    <TD width="1%"><FONT face="Times New Roman" size=2>&nbsp;</FONT></TD>
    <TD width="98%"><FONT face="Times New Roman" size=2>&nbsp;</FONT></TD></TR>
  <TR>
    <TD style="VERTICAL-ALIGN: top; TEXT-ALIGN: left" width="1%"><FONT face=Wingdings size=2>o</FONT></TD>
    <TD style="VERTICAL-ALIGN: top; TEXT-ALIGN: left" width="1%"></TD>
    <TD style="VERTICAL-ALIGN: top; TEXT-ALIGN: left" width="98%">
      <P><FONT face="Times New Roman" size=2>Pre-commencement communications
      pursuant to Rule 13e-4(c) under the Exchange Act (17 </FONT><FONT face="Times New Roman" size=2>CFR
240.13e-4(c))</FONT></P></TD></TR></TABLE>
<BR>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><B><FONT face="Times New Roman" size=2>Item 2.02. Results of
Operations and Financial Condition</FONT></B></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>Geron
Corporation (the &#147;Company&#148;) is furnishing this information under Item 2.02 of
Form 8-K. </FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT>The information in this Current Report,
including Exhibit 99.1, is being furnished and shall not be deemed &#147;filed&#148; for
the purposes of Section 18 of the Securities Exchange Act of 1934, as amended
(the &#147;Exchange Act&#148;), or otherwise subject to the liabilities of that section.
The information in this Current Report, including Exhibit 99.1, shall not be
incorporated by reference into any registration statement or other document
filed pursuant to the Securities Act of 1933, as amended, or the Exchange Act.
</FONT></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT>On August 11, 2014, the Company issued a
press release announcing its financial results for the three and six months
ended June 30, 2014. A copy of the press release is attached as Exhibit 99.1.
</FONT></P>
<P align=left><B><FONT face="Times New Roman" size=2>Item 9.01. Financial
Statements and Exhibits</FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2><FONT size=3 face="Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp; </FONT>(d) Exhibits </FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="95%" border=0>

  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"><B><FONT face="Times New Roman" size=2>Exhibit No.</FONT></B></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="94%"><B><FONT face="Times New Roman" size=2>Description</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap style="text-align: center" width="1%">&nbsp;</TD>
    <TD noWrap style="text-align: center" width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>99.1</FONT></TD>
    <TD noWrap style="text-align: center" width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="94%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Press release dated August 11,
  2014.</FONT></TD></TR></TABLE><BR>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=center><B><FONT face="Times New Roman" size=2>SIGNATURE </FONT></B></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp; <FONT face="Times New Roman" size=2>Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized. </FONT></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="47%"></TD>
    <TD noWrap align=left width="50%" colSpan=3><FONT face="Times New Roman" size=2>GERON CORPORATION</FONT></TD></TR>
  <TR>
    <TD width="99%" colSpan=5>&nbsp;&nbsp;&nbsp; </TD></TR>
  <TR>
    <TD width="99%" colSpan=5>&nbsp;&nbsp;&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"><FONT face="Times New Roman" size=2>Date:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD noWrap align=left width="47%"><FONT face="Times New Roman" size=2>August 11, 2014</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>By:</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="34%"><FONT face="Times New Roman" size=2>/s/ Stephen N.
Rosenfield</FONT></TD>
    <TD noWrap align=left width="15%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%">&nbsp;</TD>
    <TD noWrap align=left width="47%"></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>Name:&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD noWrap align=left width="49%" colSpan=2><FONT face="Times New Roman" size=2>Stephen N. Rosenfield</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="47%"></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>Title:</FONT></TD>
    <TD noWrap align=left width="49%" colSpan=2><FONT face="Times New Roman" size=2>Executive Vice President, General Counsel and</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"></TD>
    <TD noWrap align=left width="47%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="49%" colSpan=2><FONT face="Times New Roman" size=2>Corporate Secretary</FONT></TD></TR></TABLE><BR>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=center><B><FONT face="Times New Roman" size=2>EXHIBIT INDEX
</FONT></B></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="95%" border=0>

  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="4%"><B><FONT face="Times New Roman" size=2>Exhibit
No.</FONT></B></TD>
    <TD noWrap align=center width="1%">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="4%"><B><FONT face="Times New Roman" size=2>Description</FONT></B></TD>
    <TD noWrap align=left width="90%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD style="TEXT-ALIGN: center" noWrap width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>99.1</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="94%" bgColor=#cceeff colSpan=2><FONT face="Times New Roman" size=2>Press release dated August 11,
    2014.</FONT></TD></TR></TABLE>
<BR>
<HR align=center width="100%" noShade SIZE=2>



</BODY>

</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exhibit99-1.htm
<DESCRIPTION>PRESS RELEASE DATED AUGUST 11, 2014
<TEXT>

<HTML>
<HEAD>
   <TITLE></TITLE>
</HEAD>

<BODY bgcolor=#ffffff>
<BR>
<P align=right><B><FONT face="Times New Roman" size=2>EXHIBIT</FONT></B><B><FONT face="Times New Roman" size=1> </FONT></B><B><FONT face="Times New Roman" size=2>99.1 </FONT></B></P><IMG src="geron.jpg" border=0> <BR>
<P align=center><B><FONT face="Times New Roman" size=2>Geron Corporation Reports
Second Quarter 2014 Financial Results </FONT></B></P>
<P align=center><I><FONT face="Times New Roman" size=2>Conference Call Scheduled
for 4:30 p.m. EDT Today, August 11</FONT></I><I><FONT face="Times New Roman" size=2><SUP>th</SUP></FONT></I></P>
<P align=left><B><FONT face="Times New Roman" size=2>MENLO PARK,
Calif.,</FONT></B><B><FONT face="Times New Roman" size=1> </FONT></B><B><FONT face="Times New Roman" size=2>August 11, 2014 </FONT></B><FONT face="Times New Roman" size=2>-- Geron Corporation (Nasdaq: GERN) today reported
financial results for the second quarter ended June 30, 2014. </FONT></P>
<P align=left><B><FONT face="Times New Roman" size=2>Second Quarter 2014 Results
</FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>For the second quarter of
2014, the company reported a net loss of $8.7 million, or $0.06 per share,
compared to $8.9 million, or $0.07 per share, for the comparable 2013 period.
Revenues for the second quarter of 2014 were $341,000 compared to $112,000 for
the comparable 2013 period. Interest and other income for the second quarter of
2014 amounted to $99,000 compared to $56,000 for the comparable 2013 period. The
company ended the second quarter of 2014 with $147.6 million in cash and
investments.</font></P>
<P align=left><FONT face="Times New Roman" size=2>Total operating expenses for the second quarter of 2014 were $9.0
million compared to $9.1 million for the comparable 2013 period. Research and
development expenses for the second quarter of 2014 were $5.2 million compared
to $4.8 million for the comparable 2013 period. General and administrative
expenses for the second quarter of 2014 were $3.9 million compared to $3.4
million for the comparable 2013 period. Operating expenses for the 2013 second
quarter also included restructuring charges of $838,000 in connection with the
company&#146;s decisions to discontinue its discovery research programs and close its
research laboratory facility.</font></P>
<P align=left><FONT face="Times New Roman" size=2>The increase in research and development expenses
for the 2014 second quarter, compared to the same period in 2013, was primarily
the net result of higher costs for the manufacturing of imetelstat, partially
offset by reduced personnel-related and other research costs resulting from
previous restructurings and the discontinuation of the discovery research
programs. The increase in general and administrative expenses for the 2014
second quarter, compared to the same period in 2013, was primarily the net
result of higher non-cash stock-based compensation expense, partially offset by
lower patent costs and transaction expenses associated with the closing of the
stem cell divestiture in October 2013. </FONT></P>
<P align=left><B><FONT face="Times New Roman" size=2>Six Months Ended 2014
Results </FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>Net loss for the first six
months of 2014 was $17.2 million, or $0.11 per share, compared to $20.8 million,
or $0.16 per share, for the comparable 2013 period. Revenues for the first six
months of 2014 were $815,000 compared to $877,000 for the comparable 2013
period. Interest and other income for the first six months of 2014 was $182,000
compared to $137,000 for the comparable 2013 period. The company has not
incurred any impairment charges on its investment portfolio. </FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Total operating expenses for
the first six months of 2014 were $18.2 million compared to $21.8 million for
the comparable 2013 period. Research and development expenses for the first six
months of 2014 were $10.4 million compared to $12.7 million for the comparable
2013 period. General and administrative expenses for the first six months of
2014 were $7.8 million compared to $8.2 million for the comparable 2013 period.
Year-to-date operating expenses for 2013 also included restructuring charges of
$916,000. </FONT></P>
<P align=left><FONT face="Times New Roman" size=2>The decrease in research and
development expenses for the first six months of 2014, compared to the same
period in 2013, was primarily the net result of lower clinical trial expenses
with the wind-down of the imetelstat trials in solid tumors and GRN1005 trials
in patients with brain metastases and reduced personnel-related and other
research costs resulting from previous restructurings and the discontinuation of
the discovery research programs, partially offset by higher costs for the
manufacturing of imetelstat. The decrease in general and administrative expenses
for the first six months of 2014, compared to the same period in 2013, was
primarily the net result of lower patent costs and transaction expenses
associated with the closing of the stem cell divestiture in October 2013,
partially offset by higher non-cash stock-based compensation expense.
</FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><B><FONT face="Times New Roman" size=2>Recent Company Events
</FONT></B></P>
<P align=left><B><I><FONT face="Times New Roman" size=2>Removal of Partial
Clinical Hold on Myelofibrosis IST:</FONT></I></B><B><FONT face="Times New Roman" size=2> </FONT></B><FONT face="Times New Roman" size=2>In
June 2014, the U.S. Food and Drug Administration (FDA) removed the partial
clinical hold on the investigator-sponsored clinical trial of imetelstat in
myelofibrosis (Myelofibrosis IST). The partial clinical hold was placed in March
2014 due to a safety signal of hepatotoxicity that was identified in clinical
trials of imetelstat. In order to resolve the partial clinical hold, the
investigator, Dr. Ayalew Tefferi of Mayo Clinic, Rochester, Minnesota, was
required to provide follow-up information regarding reversibility of
hepatotoxicity for all patients who received imetelstat in the Myelofibrosis
IST. The investigator submitted a complete response to the FDA to seek release
of the partial clinical hold, and the FDA lifted the partial hold on June 11,
2014.</FONT><FONT face="Times New Roman" size=2> </FONT></P>
<P align=left><B><I><FONT face="Times New Roman" size=2>Geron to Assume
Sponsorship of Myelofibrosis IST and IND: </FONT></I></B><FONT face="Times New Roman" size=2>In July 2014, Geron and Mayo Clinic entered into a
transfer agreement whereby the Investigational New Drug (IND) application for
imetelstat under which the Myelofibrosis IST has been conducted will be
transferred from Mayo Clinic to Geron. In addition, Geron will assume
sponsorship for the Myelofibrosis IST, and Dr. Ayalew Tefferi will remain as the
principal investigator for the study. The company and Mayo Clinic have agreed
that the IND and sponsorship responsibility for the conduct of the Myelofibrosis
IST will be transferred to Geron by September 30, 2014.</font></P>
<P align=left><FONT face="Times New Roman" size=2>The Myelofibrosis IST
ceased enrolling patients in January 2014. Under Geron&#146;s sponsorship, the
patients remaining in the study &#150; which include patients with myelofibrosis
(MF), blast phase MF, and refractory anemia with ringed sideroblasts, a subtype
of the myelodysplastic syndromes (RARS-MDS) &#150; will continue to receive treatment
with imetelstat or continue in follow-up. Geron does not intend to enroll
additional patients in this study. The company plans to use the transferred data
and information from the Myelofibrosis IST to inform the design of Geron&#146;s
planned Phase 2 clinical trial in MF. </FONT></P>
<P align=left><B><I><FONT face="Times New Roman" size=2>Update on Geron&#146;s Full
Clinical Hold:</FONT></I></B><FONT face="Times New Roman" size=2> Geron&#146;s IND
for imetelstat remains on full clinical hold, affecting the company&#146;s clinical
trials in essential thrombocythemia or polycythemia vera and in multiple
myeloma. The company is working diligently to seek release of the full clinical
hold and is currently in the process of compiling preclinical and clinical
information from Geron-sponsored studies, as well as information available from
other imetelstat studies, such as the Myelofibrosis IST, regarding LFT
abnormalities and the incidence and reversibility of hepatotoxicity. Until the
FDA lifts the full clinical hold on Geron&#146;s IND, the company will be unable to
initiate any new clinical trials for imetelstat in the United States under that
IND. In light of the full clinical hold on the company&#146;s IND, Geron has
committed to the FDA that it will not initiate any new clinical studies under
the transferred IND from Mayo Clinic until Geron has had further communication
with the FDA regarding the company&#146;s IND and its development plans for
imetelstat in hematologic myeloid malignancies with high unmet medical need.
Such communication will include updated analyses of efficacy and safety data
from the Myelofibrosis IST. Pending the outcome of anticipated interactions with
the FDA, Geron plans to initiate a Geron-sponsored clinical trial of imetelstat
in MF which could potentially occur as early as the first quarter of
2015.</FONT></P>
<P align=left><B><I><FONT face="Times New Roman" size=2>Asterias Stock
Distribution: </FONT></I></B><FONT face="Times New Roman" size=2>The Nasdaq
Stock Market set July 22, 2014 as the ex-dividend date for the pro-rata
distribution to Geron stockholders of the Asterias Series A common stock that
Geron received in the previously announced transaction to divest Geron&#146;s human
embryonic stem cell assets and autologous cellular immunotherapy program to
Asterias Biotherapeutics, Inc. The company expects the distribution to occur
over the next several weeks. </FONT></P>
<P align=left><B><FONT face="Times New Roman" size=2>Conference Call
</FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>At 4:30 p.m. EDT on August 11,
2014, Geron&#146;s management will host a conference call to discuss the company&#146;s
second quarter results and recent events. </FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Participants can access the
conference call live via telephone by dialing 866-277-1184 (U.S.); 617-597-5360
(international). The passcode is 52570360. A live audio-only webcast is also
available at http://edge.media-server.com/m/p/f44w6tg8/lan/en. The audio webcast
of the conference call will be available for replay approximately one hour
following the live broadcast through September 12, 2014. </FONT></P>
<P align=left><B><FONT face="Times New Roman" size=2>About Geron </FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>Geron is a clinical stage
biopharmaceutical company developing a first-in-class telomerase inhibitor,
imetelstat, in hematologic myeloid malignancies. For more information about
Geron, visit www.geron.com. </FONT></P>
<HR align=center width="100%" noShade SIZE=2>

<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=left><B><FONT face="Times New Roman" size=2>Use of Forward-Looking
Statements </FONT></B></P>
<P align=left><FONT face="Times New Roman" size=2>Except for statements of
historical fact, this press release contains forward-looking statements made
pursuant to the "safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995, including without limitation, statements regarding:
projected timelines for transfer of the IND for the Myelofibrosis IST to Geron
and assumption of sponsorship of the Myelofibrosis IST by Geron; the continued
treatment or follow-up of remaining patients in the Myelofibrosis IST after the
IND transfer; obtaining and submitting information and data to respond to the
full clinical hold; the ability of the company to adequately address the FDA's
requirements and concerns resulting in the FDA lifting the full clinical hold on
the company&#146;s IND; plans and timelines for imetelstat clinical trial initiation;
financial projections; any value to Geron stockholders of the Asterias Series A
common stock; Geron's plans or expectations for the timing and completion of the
pro-rata distribution of the Asterias Series A common stock; that Dr. Tefferi
will continue as the principal investigator of the Myelofibrosis IST; and other
statements that are not historical fact. These statements involve risks and
uncertainties that can cause actual results to differ materially from those in
such forward-looking statements. These risks and uncertainties include, without
limitation, risks and uncertainties regarding: the process of transferring the
IND for the Myelofibrosis IST to Geron; the process of moving sponsorship of the
Myelofibrosis IST to Geron; whether the company may be able to provide adequate
information or data to respond to the clinical hold; whether the FDA releases
the clinical hold on Geron&#146;s IND for imetelstat; reliance on the conduct of and
data from investigator-sponsored trials of imetelstat; the potential material
changes in overall conclusions from preliminary efficacy and safety data
reported from the Myelofibrosis IST as additional patients were enrolled and
treatment continues and additional and updated patient data become available;
numerous risks and uncertainties with regard to manufacturing imetelstat; whether Dr.
Tefferi may decide that he does not want to continue as the principal
investigator of the Myelofibrosis IST; the possibility that Geron stockholders may realize little or no
value from the Asterias Series A common stock; the possibility that Geron
stockholders may incur tax liabilities, but be unable to realize value from any
Asterias Series A common stock distributed by Geron; the potential inability of
Geron to complete the pro-rata distribution of the Asterias Series A common
stock, as well as the payment of cash in lieu of fractional and other shares, in
a timely manner or at all; the complexity of U.S. federal income tax laws which
are also subject to change at any time, possibly with retroactive effect, and
that the U.S. federal income tax treatment for the receipt of Asterias Series A
common stock is highly dependent on a holder's particular situation; the
possibility of litigation that could arise as a result of or in connection with
the pro-rata distribution of the Asterias Series A common stock and related
transactions, as well as the asset contribution transaction itself, including
litigation arising from the possibility that Geron stockholders may realize
little or no value from the Asterias Series A common stock; the lack of an
active public market for Asterias Series A common stock, or that no active
public market may ever develop; and those other risks and uncertainties inherent
in the development of potential therapeutic products such as successful
company-sponsored clinical trial results, technical, scientific and regulatory
challenges, sufficient capital resources, limitations on our freedom to operate
arising from intellectual property of others, and challenges to or enforcement
of Geron&#146;s intellectual property rights. Additional information and factors that
could cause actual results to differ materially from those in the
forward-looking statements is contained in Geron's periodic reports filed with
the Securities and Exchange Commission primarily under the heading "Risk
Factors," including in Geron's quarterly report on Form 10-Q for the quarter
ended June 30, 2014. Undue reliance should not be placed on Geron's
forward-looking statements, and Geron disclaims any obligation to update these
forward-looking statements to reflect future information, events or
circumstances. </FONT></P>
<P align=left><B><FONT face="Times New Roman" size=2>CONTACTS: </FONT></B><BR><FONT face="Times New Roman" size=2>Kevin Eng, Ph.D.<BR>Anna
Krassowska, Ph.D.<BR>Investor and Media Relations<BR>650-473-7765<BR>investor@geron.com<BR>media@geron.com
</FONT></P>
<P align=left><FONT face="Times New Roman" size=2>Financial table
follows.</FONT></P>
<HR align=center width="100%" noShade SIZE=2>


<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>




<P align=center><B><FONT face="Times New Roman" size=2>GERON CORPORATION
</FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=2>CONDENSED STATEMENTS OF
OPERATIONS<BR>(UNAUDITED) </FONT></B></P>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="73%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap style="text-align: center" width="13%" colSpan=7><B><FONT face="Times New Roman" size=2>Three Months Ended</FONT></B></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="12%" colSpan=7><B><FONT face="Times New Roman" size=2>Six Months Ended</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="73%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="13%" colSpan=7><B><FONT face="Times New Roman" size=2>June 30,</FONT></B></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="12%" colSpan=7><B><FONT face="Times New Roman" size=2>June 30,</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="73%"><I><FONT face="Times New Roman" size=2>(In thousands, except share and per share
    data)</FONT></I></TD>
    <TD noWrap align=left width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="6%" colSpan=3><B><FONT face="Times New Roman" size=2>2014</FONT></B></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="6%" colSpan=3><B><FONT face="Times New Roman" size=2>2013</FONT></B></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="6%" colSpan=3><B><FONT face="Times New Roman" size=2>2014</FONT></B></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="5%" colSpan=3><B><FONT face="Times New Roman" size=2>2013</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="73%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Revenues:</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="73%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; License fees and
      royalties</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="4%"><FONT face="Times New Roman" size=2>341</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="4%"><FONT face="Times New Roman" size=2>112</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="4%"><FONT face="Times New Roman" size=2>815</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>877</FONT></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR>
    <TD noWrap align=left width="73%">&nbsp;&nbsp; </TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="4%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="4%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="4%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%"></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="73%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Operating expenses:</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="73%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Research and
      development</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="4%"><FONT face="Times New Roman" size=2>5,151</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="4%"><FONT face="Times New Roman" size=2>4,807</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="4%"><FONT face="Times New Roman" size=2>10,362</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>12,728</FONT></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="73%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Restructuring
      charges</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>838</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>916</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="73%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; General and
      administrative</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="4%"><FONT face="Times New Roman" size=2>3,853</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="4%"><FONT face="Times New Roman" size=2>3,432</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="4%"><FONT face="Times New Roman" size=2>7,847</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>8,183</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="73%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      Total operating expenses</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>9,004</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>9,077</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>18,209</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>21,827</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="73%"><FONT face="Times New Roman" size=2>Loss
      from operations</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="4%"><FONT face="Times New Roman" size=2>(8,663</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>)</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="4%"><FONT face="Times New Roman" size=2>(8,965</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>)</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="4%"><FONT face="Times New Roman" size=2>(17,394</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>)</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>(20,950</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>)</FONT></TD></TR>

  <TR>
    <TD noWrap align=left width="73%">&nbsp;
</TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="4%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="4%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="4%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%"></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="73%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Unrealized (loss) gain on derivatives</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>(147</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>)</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>(24</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>)</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>77</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>1</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="73%"><FONT face="Times New Roman" size=2>Interest and other income</FONT></TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="4%"><FONT face="Times New Roman" size=2>99</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="4%"><FONT face="Times New Roman" size=2>56</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="4%"><FONT face="Times New Roman" size=2>182</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="3%"><FONT face="Times New Roman" size=2>137</FONT></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="73%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Interest and other expense</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>(23</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>)</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>(14</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>)</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>(39</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>)</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>(32</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>)</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="73%"><FONT face="Times New Roman" size=2>Net
      loss</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="4%"><FONT face="Times New Roman" size=2>(8,734</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face="Times New Roman" size=2>)</FONT></TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="4%"><FONT face="Times New Roman" size=2>(8,947</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face="Times New Roman" size=2>)</FONT></TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="4%"><FONT face="Times New Roman" size=2>(17,174</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face="Times New Roman" size=2>)</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>(20,844</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face="Times New Roman" size=2>)</FONT></TD></TR>
  <TR>
    <TD noWrap align=left width="73%">&nbsp;
</TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="4%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="4%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="4%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="3%"></TD>
    <TD noWrap align=left width="1%"></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="73%" bgColor=#cceeff><B><FONT face="Times New Roman" size=2>Basic and diluted net
      loss per share:</FONT></B></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="4%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="3%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="73%"><FONT face="Times New Roman" size=2>Net
      loss per share</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="4%"><FONT face="Times New Roman" size=2>(0.06</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face="Times New Roman" size=2>)</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="4%"><FONT face="Times New Roman" size=2>(0.07</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face="Times New Roman" size=2>)</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="4%"><FONT face="Times New Roman" size=2>(0.11</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face="Times New Roman" size=2>)</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%"><FONT face="Times New Roman" size=2>(0.16</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face="Times New Roman" size=2>)</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="73%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Shares used in computing net loss per share</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>156,706,196</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2></FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="4%" bgColor=#cceeff><FONT size=2 face="Times New Roman">128,162,993</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>150,086,007</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=right width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="3%" bgColor=#cceeff><FONT face="Times New Roman" size=2>128,072,962</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#cceeff></TD></TR></TABLE><BR>
<P align=center><B><FONT face="Times New Roman" size=2>CONDENSED BALANCE SHEETS
</FONT></B></P>
<DIV align=center>
<TABLE style="LINE-HEIGHT: 14pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="80%" border=0>

  <TR vAlign=bottom>
    <TD noWrap align=left width="88%"></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="5%" colSpan=2><B><FONT face="Times New Roman" size=2>June 30,</FONT></B></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="5%" colSpan=2><B><FONT face="Times New Roman" size=2>December 31,</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%"><I><FONT face="Times New Roman" size=2>(In thousands)</FONT></I></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="5%" colSpan=2 style="BORDER-BOTTOM: #000000 1pt solid"><B><FONT face="Times New Roman" size=2>2014</FONT></B></TD>
    <TD noWrap style="text-align: center" width="1%"></TD>
    <TD noWrap style="text-align: center" width="5%" colSpan=2 style="BORDER-BOTTOM: #000000 1pt solid"><B><FONT face="Times New Roman" size=2>2013</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%"></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD noWrap style="text-align: center" width="5%" colSpan=2><B><FONT face="Times New Roman" size=2>(Unaudited)</FONT></B></TD>
    <TD noWrap style="text-align: center" width="1%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
    <TD noWrap style="text-align: center" width="5%" colSpan=2><B><FONT face="Times New Roman" size=2>(Note 1)</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Current assets:</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="4%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="4%" bgColor=#cceeff></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash, cash equivalents
      and restricted cash</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="4%"><FONT face="Times New Roman" size=2>10,315</FONT></TD>
    <TD noWrap align=left width="1%">&nbsp;</TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="4%"><FONT face="Times New Roman" size=2>13,785</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Current marketable
      securities</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>130,816</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff>&nbsp;</TD>
    <TD noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>52,234</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other current
      assets</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="4%"><FONT face="Times New Roman" size=2>1,461</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="4%"><FONT face="Times New Roman" size=2>1,038</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      Total current assets</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>142,592</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>67,057</FONT></TD></TR>
  <TR>
    <TD width="100%" colSpan=7>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Noncurrent marketable securities</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>6,496</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>&#151;</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%"><FONT face="Times New Roman" size=2>Property and equipment, net</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="4%"><FONT face="Times New Roman" size=2>60</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=right width="4%"><FONT face="Times New Roman" size=2>92</FONT></TD></TR>

  <TR vAlign=bottom>
    <TD noWrap align=left width="88%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Deposits and other assets</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>191</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>195</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%">&nbsp; </TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="4%"><FONT face="Times New Roman" size=2>149,339</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%"><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="4%"><FONT face="Times New Roman" size=2>67,344</FONT></TD></TR>
  <TR>
    <TD width="100%" colSpan=7>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%" bgColor=#cceeff><FONT face="Times New Roman" size=2>Current liabilities</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>4,756</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>7,587</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%"><FONT face="Times New Roman" size=2>Stockholders&#146; equity</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="4%"><FONT face="Times New Roman" size=2>144,583</FONT></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="1%"></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=right width="4%"><FONT face="Times New Roman" size=2>59,757</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="88%" bgColor=#cceeff>&nbsp;
    </TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>149,339</FONT></TD>
    <TD noWrap align=left width="1%" bgColor=#cceeff></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=left width="1%" bgColor=#cceeff><FONT face="Times New Roman" size=2>$</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 2pt double" noWrap align=right width="4%" bgColor=#cceeff><FONT face="Times New Roman" size=2>67,344</FONT></TD></TR></TABLE></DIV><BR>
<TABLE style="LINE-HEIGHT: normal; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="2%"><B><FONT face="Times New Roman" size=2>Note 1</FONT></B><FONT face="Times New Roman" size=2>:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      </FONT></TD>
    <TD STYLE="vertical-align: top; text-align: left; width: 97%"><FONT face="Times New Roman" size=2>Derived from audited financial statements included in the
      company&#146;s Annual Report on Form 10-K for the year ended December 31,
      2013.</FONT></TD></TR></TABLE><BR>

<P align=center><FONT face="Times New Roman" size=2>###</FONT></P>
<HR align=center width="100%" noShade SIZE=2>



</BODY>

</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>geron.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 geron.jpg
M_]C_X``02D9)1@`!`0```0`!``#_VP!#``$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0'_
MVP!#`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0'_P``1"``]`'$#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#^_BBBO\Z7
MX:?M+?\`!;3_`(.%?VK/V@=5_8\_:V\4?LF?LB^%=5^)=A\,]/\`A]\2?B#^
MS?8^'O#7@.[M1\)+3QKXQ^&_ACX@>.M3^)'C6+QSX1UKXD"+4[F+5$'B7^R-
M%\-^%-'\+:%8`/3_`(!_HM45_`M_P21_X*`?\%<_V'?^"O&F_P#!&_\`X*(?
M$#QW^TU8^,O$6M:+H6K^,]4UGXS>)M/@O?".M_$W1/C;\._COJL3?$KQ7\*=
M9\):2VJ:CHWC^/5;?P;HUOJ>FZIHOPA\2>$_&FD6W]#O_!PI_P`%*/BU_P`$
MMOV`(OCY\"(_!Y^+OCCXW>`O@IX)G\<^%[_Q;H%C=>)O#_CGQEK6H/IEEK>A
MQ1W]IX7^'VNRZ9=:I)J&E+?"&WNM*O&N8C$+7R]?ZO\`J"U\O7_+?\+^1^YE
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M\&:J/@O-XG^&GA>P^*/[0/Q1^)UMI%CXA^+#^#;C5](UWPW\-;;X>QP>(O`+
MI9^&=7UOPDOA?QS\3=;\;:/))I.G?#+]9_V(_A#_`,%AO^"=/@3]K7]LS_@J
M?^V5:?M7?!GX'_LJ?&CXP^$O@7X*\<WVK^+I-6\!>&;3XCSQ>*YM6^$W@WPU
MIWB2T\*>#_$GAF"'1/&WC7PM;^(?$!O+.]O[*T35;D_K^OZ_,+ZM=K?C_7]=
M/Z>:*_SB_P!BKQ1_P6D_X.%_B'^V+\<_A7_P41^*/[,/P\^%6M,GPS^%WPV^
M/WQC_9C\(^%]=^)$FNO\/?`UZ/@_\-/%UMXN\/\`A?PKX`L)/%FHZEK&N>*;
M"ZUZSUJWN]0U?Q7XD=OTZ_X-NO\`@HC_`,%$O$O[:W[7G_!)[_@H9\0-<^+?
MC;]E#P!XPUSP]XS\<V<6K_$'2;OX3_%?P7\+/%.EZI\4IAIOB/XH^&O%;?$/
M1/%GA#QAXVL_%/B/7M)*:K;>,1H-QI6G2@?U_7]>MM#^SJBOY7_^#I7_`(*V
M?M&_\$S_`("_`'X>_LM:OI7@SXH?M:WOQAT6Y^)UYX877=<^'O@SX76/PY;7
M]3\!:E<^)+73/#WCO4;[XDZ'INF7^K^"?&MM#HTOB#4M,G\*^*-)\/:I-^!'
M[97P'_X../\`@EU^S3\*O^"FGQ#_`."B/Q[\4:CIGC'PSJWQK^$6H_M*_&;X
MQ>&/AIJ_Q2U*_A\.6GCKX&^)O`:?`&V\"6FH:GI'@'Q/I<VM:SX:\.>/O$'A
MK0_`D%[#<:/J>E@'^DO17YS?\$D/VS-8_P""@G_!./\`91_:W\3Z8-*\8_%+
MX?7UEX^@BBMK:SO/B/\`#/QAXE^$OQ%US2K.TCBM]/T/Q)XX\":_XAT'3(U)
MTS1M3L=/>2:2V>9_T9H`****`"OXP?\`@R7_`.3!_P!J_P#[.^G_`/5,?"^O
M[/J_C!_X,E_^3!_VK_\`L[Z?_P!4Q\+Z`.$^,_\`RNT?LD_]F^>)/_6)/VFJ
M]\_X/5O^467P#_[/_P#A9_ZSK^U57@?QG_Y7:/V2?^S?/$G_`*Q)^TU7OG_!
MZM_RBR^`?_9__P`+/_6=?VJJ;W^4?R0WO\H_DC[_`/\`G5E_[P`__`ZZ^`/^
M#*G_`)19?'S_`+/_`/BG_P"LZ_LJUY;^TG\#/^"WW[1?_!*C_@EI\&?^"8^O
M^%(?V;/BU_P2(^!?PJ_:J\(^(9_V==-F\6Q?$+]G'P'X5OM)M];^+OAW4/&V
MC1:GX"U;5],?4O`.NZ%/8O<?:[>[M=7BMKR+]`/^#9+_`()X_MF_\$U/V3OC
M[\#?VP/"F@>#+WQ;^T1+\5_`6C>'O&/@SQO;2VNM_#;P-X0\1:G/J_A.\U"2
MWGNI?`^C6G]G:E=[(8]/2YL;>)KR]EN$(_F)_P""=:J?^#R3XL,54LO[:_\`
MP4IVL0"5W?"S]J<':>HR.#C&1P:_O&_X*Q?\HLO^"EG_`&8!^V1_ZSK\1J_@
M[_X)U?\`*Y'\6O\`L]?_`(*4?^JL_:HK^\3_`(*Q?\HLO^"EG_9@'[9'_K.O
MQ&H`_F?_`.#([_DS+]LG_LYWP_\`^JJ\.UC_`/!*?_E;B_X+!_\`9O7QC_\`
M5S?L9UL?\&1W_)F7[9/_`&<[X?\`_55>':Q_^"4__*W%_P`%@_\`LWKXQ_\`
MJYOV,Z75>C_.(NJ]'^<3YZ_X/G/^<77_`'>S_P"^CU^_W_!T=_R@H_;F_P"[
M9O\`UL/]GVOP!_X/G/\`G%U_W>S_`.^CU^_W_!T=_P`H*/VYO^[9O_6P_P!G
MVF,/^#7'_E!1^PS_`-W,_P#K8?[05?O]7X`_\&N/_*"C]AG_`+N9_P#6P_V@
MJ_?Z@`HHHH`*_P`^7_@T[_X*!_LY_L2I^TK_`,$X_P!K76==_9\_:(U[]HW7
MO$5H/BAI5OX9\%67BGP]IO@CX/ZY\)O$6OWFHB[\)_$O3O%FA:C%+IOB?2-(
MT(K:7%A_PD*ZX+;2;O\`T&J_EN_;_P#^#3_]@W]MWX^>,/VC_#7Q'^,G[-_Q
M`^*7B/Q+XV^+=AX*O-+\<>#_`!QX]\6:_J'B;Q!XYATGQXE_JWAC7M>U;5]0
MFUJQT;Q`GA)D33ET+PQX?>WU"35@#X7^,_\`RNT?LD_]F^>)/_6)/VFJ^C/^
M#TG2-5U+_@E3\&;S3M,U"_L_#_[=_P`)]7UZZLK*YNK;1-*F^!7[2^@PZGJ\
M\$4D6FZ?+KFMZ-HT5[>/#;2:KJ^F:<LIO+^UAE_#']D__@F%X-_X)Q?\'47[
M%'['GPZ^+_Q`\9Z!H'A_7/B^GCK5S)X1\37LZ_LS?&[QYJ'A>Y7P+K&AF30-
M83PNWAO5]/FO9])U_0-7U/1?%6D>(?#M_JF@:G_?[^W5^Q!\#/\`@H?^S9XW
M_9:_:%L_$,OP]\;-87AU7PCJ.GZ5XN\+Z]I$S3Z/XH\+WNL:1XAT.'7=)DDF
M:PDUKP]KFG1O*9GTZ2>."6%O]%^2&_T7Y*WWGY+_`+*O_!3C]G7]G?\`X-U?
M@I^UYX7^)7@+Q5_PRW^P5\)/A*_A_6[W6=(AO_VL_A;^SWX-\*:+^S[KEB-/
MB\2V.O>)?B7'H&B0S6NFO;WGA/7]/^(NDWUUX"O;+Q1-[[_P0F_X*F^._P#@
MKC^R-X^_:,^(GPE\+_!S7_!?[07BKX-P>'/!VN:UXBT74](T+X>?"[QM9Z^]
M_K5K;SVNI7-SX_OM.N=)$D[P6NEZ?J;>7#K%LI_G:U'_`(,M-;7QUI/P_P!+
M_P""@WBV[_9(G\2/XUUW0M2\,7EEXZTO6XHO%5AI\&D^`+:^U#X::]XCM]!G
M\.Z&_P`4;S6?#=X8M7\530>`8+.QL=(UK^Q+]AO]B3X'?\$^/V=?"7[,W[/F
MF:GI_@#PM<ZCJTEUKEU;WVNZ_P")-<>&?7_$>M7EK:6,$M_JUW"LS106L-I8
MVZV^FZ?!;:;9V=K`OE_7]>A.OX:^OEY;[^1_G\?\$ZO^5R/XM?\`9Z__``4H
M_P#56?M45_>5_P`%6K>XO/\`@EU_P4EM+2":ZNKK]@;]L2WMK:WB>>XN+B?]
MGCXBQ0P00Q*TDTTTC+'%%&K/([*B*6(!_.CX"?\`!O;\%?@-_P`%7/%?_!5W
M2_V@OBCX@^(OBCXM?M`?%UOA3J'AWPG:>"K+5OV@?#_Q%\.:UI2ZO;H^NW&G
M>'[/XD:G-I;DPW-Q<V%@UW(8C<0R_P!`>I:;IVM:=J&CZQI]EJVD:M976FZI
MI>I6L%_IVI:=?026M]I^H6-U'+;7EE>6TLMO=6MS%)!<0220S1O&[*09_#A_
MP9&_%'X=GX!?MG?!1O&.@Q?%F/XP>&?BC'\/KB^CMO$][\.Y?!>B^$YO&.EZ
M9/Y<VKZ#I?B6&#1-?OM+%Y'X<U#5_#=OK_\`9K>*?#?]JY__``1@^(O@KXN?
M\'6'_!7/XA?#K7[3Q1X-U;X#?'RQTS7;..ZM[:_GT#]H/]DGPUJK6D6H6]G=
MSVUOK.AZG:)>QV[65TL$=W9W%Q97=G<W'LW[8/\`P:21ZI\;/'W[0/\`P3I_
M;!\:_LOZ]\3O%.LZEK?PTU35O$7AKPQX3TGQ2MWJGB"R\'?$'X=03^+[CP^G
MB&.R^P>`M?T6ZB?3+N;S_&T<FBV=MJ?[!?\`!'?_`((4_LZ?\$@K+Q_X@\%>
M-=?^-GQJ^)&GP^&=<^+_`(L\.:1X4O=.\!07UGK3>"O#GA_1[O4TT_3=2\0V
M5IK.NW=]K.JWVJRZ3X;M6EM[70+6.0\^O_#?UL+MW_#I?\OD?SC_`/!\Y_SB
MZ_[O9_\`?1Z_?[_@Z._Y04?MS?\`=LW_`*V'^S[7HG_!9#_@B'\)_P#@LD_[
M-Y^*/QM^(GP=3]G%OBZ='7P#H7AK67\2I\7C\+O[474W\1*XLFTD?"^P&GM:
MQR"4ZI=FX1A#"I^W/^"CO[$/A3_@H[^QE\9/V,O&_C?Q#\./"_QD_P"%>?VG
MXS\*Z?INJ:]HW_"O/BKX&^*ME]@L-7(T^?\`M'4/`UII5U]H/[JROKB:+]_'
M%0,_-_\`X-<?^4%'[#/_`'<S_P"MA_M!5^_U?$/_``3B_8A\*?\`!.+]C+X-
M_L9>"/&_B'XC^%_@W_PL/^S/&?BK3]-TO7M9_P"%A_%7QS\5;W[?8:03I\']
MG:AXYN]*M?LY_>V5C;S2_OY):^WJ`"BBB@`K\`O^"Z$/_!<^>#]F6'_@B\@F
M@N(/CI9_M-P+=_LH:?.8[RV^%4'P=N+:_P#VF;K3]0LI[0M\4YH+GX;:A:W4
M-SY$OB0N$T`+^_M%`'\4_P#P1>_X-SOVKOA+^VQ:?\%*/^"HOQ2TSQW\:_#E
M_-XZ\)_#N\\1V/QE\3>)OB]XG\,:WH^H>.OC#XVU>'6]!27X8?VO9:A\.8_!
MVJ:SK!\?Z3I7BBS\1^$M)\#:1IOC;^UBBB@5DK^;N_7^D%%%%`PHHHH`****
/`"BBB@`HHHH`****`/_9
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
