Tollen

INTRODUCTION

19 In this securities action, defendants move to dismiss for failure to state a claim on which 20 relief can be granted, and for judicial notice. For the following reasons, defendants’ motions 21 are GRANTED IN PART AND DENIED IN PART.

STATEMENT

23 The essence of the following long analysis is this: the amended complaint adequately 24 alleges that Geron should have disclosed the bad news when it touted the good and that failure 25 to do so was misleading. 26 The purportedly good news was that more than 50% of those enrolled in IMbark, the 27 imetelstat Phase 2 study, remained alive at 19 months (a metric called “median OS”). Geron This 19-month longevity was promising for the myelofibrosis patients, even though Scarlett warned investors that this promising news was tempered by a lack of control arm. The allegedly bad news was that other metrics under study — in particular, SVR, Total Symptom Score (TSS) reduction, and remission — did not look promising. TSS refers to patients’ self-report about the level of debilitating symptoms that myelofibrosis causes, and whether those symptoms improved. Defendants disclosed that…