Geron Corp said the U.S. Food and Drug Administration had ordered to halt the trials of its cancer drug imetelstat due to concerns of liver damage.
The company said the FDA verbally notified them about the hold, which will affect all trials of the treatment, including its thrombocythemia and multiple myeloma mid-stage studies.
The experimental blood cancer drug was touted as a saviour for the company in November, after a number of trial patients were cured.
Geron's shares closed at $4.40 on the Nasdaq on Tuesday.
(Reporting by Natalie Grover and Chris Peters in Bangalore; Editing by Gopakumar Warrier)