Geron Corporation, a Bay Area biotech company that’s ramping up sales of its first commercial drug, announced on Thursday that it’s laying off a third of its staff.
The Foster City drugmaker revealed the job cuts in a news release, writing that its workforce currently totals about 260, so around 85 people will be put out of work. The layoff comes just months into the tenure of new CEO Harout Semerjian, who wrote that the cuts are “in the spirit of prudent fiscal management.”
“We expect this restructuring will have a meaningful impact on our 2026 operating expenses and position Geron to meet the needs of patients,” Semerjian added. “I want to express my gratitude to the employees that will be impacted in this restructuring. Your contributions over the years have made a positive difference in the lives of the people we endeavor each day to assist.”…