Geron Corporation (GERN) saw its stock plummet 5.50% in after-hours trading on Wednesday following the release of its third-quarter earnings report. The biotechnology company's mixed results and ongoing losses appear to have disappointed investors, despite meeting analyst expectations on earnings per share.

Geron reported a quarterly adjusted loss of 3 cents per share, in line with the consensus estimate of nine analysts. While this met expectations, it represented a slight improvement from the 4 cents per share loss reported in the same quarter last year. Revenue for the quarter rose 67.1% to $47.23 million, showing significant growth. However, this figure fell short of the $52.88 million analysts had projected, potentially contributing to the negative market reaction.

The company's financial struggles were further highlighted by a reported quarterly loss of $18.43 million. This continued red ink, combined with the revenue miss, likely fueled investor concerns about Geron's path to profitability. The stock's sharp decline adds to an already challenging year for Geron shareholders, with the company's shares having fallen 16.1% this quarter and a staggering 67.5% year-to-date prior to this latest drop. Despite these setbacks, Wall Street maintains an overall bullish stance on Geron, with a consensus "buy" rating and a median 12-month price target of $4.00, representing a potential upside of over 70% from its last closing price.