Could Geron be up 32% by June?

It looks like it may be the case according to this story.

Geron will follow through on a promise made months ago to establish the
exercise price on 4.125 million warrants for its stock. The warrants, issued in
December and February, will be priced based on the stock's value during a narrow trading window ending June 12. Holders can cash in those warrants, beginning
June 13, by paying 120% of the average stock price during the previous five
sessions, with an upper limit set at $12.14 a share.

The stock is currently selling at $8.18 so if these things price at the top of that range then that would make a tidy little profit. And at least a few money managers are buying like there is no tomorrow:

Lawton, for one, has never seen a company arrange to price warrants
during a specific period months after their grant date. When questioned by
TheStreet.com, Geron itself declined to explain the arrangement or identify who
the warrant holders might be. Meanwhile, partly because of this odd scenario,
Lawton's firm has invested heavily in Geron -- a biotechnology company that it
likes anyway -- in anticipation of a quick return.

While this fund got into the thing so heavily that they became the 2nd largest shareholder and completely filled their portfolio to the brim with shares. (I guess they are a Hedge Fund because I can't find much information on them:)

Meanwhile, however, some investors have decided to pounce on the stock
already. During the fourth quarter, when Geron issued a big block of warrants,
Rock Hill Investment Management bought so much stock in Geron that it emerged as the company's second-largest shareholder. Indeed, a Nasdaq filing indicates, Rock Hill owns far more common stock in Geron than it does in all other companies combined.

Whatever the case this stock could see a runup in the near term and some of their pipeline drugs seem pretty interesting. It could be the next Amgen if you are willing on taking the bumpy ride.

"GRN163L may have the potential to cure (multiple myeloma) by targeting
the cancer stem cells," Rodman & Renshaw analyst Ren Benjamin explained
earlier this month. Thus, "encouraged by the potential of eliminating cancer
stem cells, the company plans to initiate two GRN163L phase II trials in
2Q/3Q07" to expand tests on myeloma and treat a common type of lung
cancer.