According to the Los Angeles Times, Geron abandoned embryonic stem cell research and clinical trials solely of money. Wesley Smith does not believe it for a minute, as he writes in the Weekly Standard. Read them both and decide for yourself.
Having formerly lived in Southern California, I for one do trust the LA Times to get a story straight. Not only that, I simply do not trust the LA Times to put their biases aside and report the facts about a case. I can believe that Geron was strapped for cash, but with the potential for this research and the money-bags at the California Institute for Regenerative Medicine, I find it difficult to believe that private investors were not dumping wads of cash into their laps. I think somethings else is going on and I would love to see the media dig to bottom of it.