Geron Corporation (NASDAQ: GERN) saw its shares tumble 5.22% in pre-market trading on Wednesday following the release of its third-quarter earnings report. The biotechnology company's financial results revealed a mixed performance, with earnings meeting expectations but revenue falling short of analyst estimates.

According to the earnings report, Geron posted a quarterly loss of $0.03 per share, which was in line with Wall Street expectations. However, the company's sales for the quarter came in at $47.227 million, missing the analyst consensus estimate of $52.881 million. This revenue shortfall appears to be the primary driver behind the stock's pre-market decline.

Further details from the earnings report show that Geron's Q3 net income stood at a loss of $18.428 million. The company reported product revenue of $47.167 million for the quarter. Additionally, Geron's operating income was reported at a loss of $13.887 million, which was better than the IBES estimate of a $17.3 million loss. Despite this improved operating performance, investors seem to be focusing on the top-line miss, leading to the negative sentiment in early trading.