Welcome to our dedicated page for Longeveron news (Ticker: LGVN), a resource for investors and traders seeking the latest updates and insights on Longeveron stock.
Longeveron Inc. (symbol: LGVN) is a clinical-stage biotechnology company at the forefront of regenerative medicine. The company is dedicated to developing innovative cellular therapeutics to address unmet medical needs related to aging and life-threatening conditions. Longeveron's lead investigational product, Lomecel-B™, is an advanced stem cell formulation derived from the bone marrow of young, healthy adult donors. This allogeneic (‘off-the-shelf’) product is currently being investigated for its potential to promote tissue repair and healing.
Lomecel-B™ is being explored for three primary indications: Hypoplastic Left Heart Syndrome (HLHS), Alzheimer's Disease (AD), and Aging-related Frailty. The unique mechanisms of action of Lomecel-B™, which include stimulating new blood vessel formation, modulating the immune system, reducing tissue fibrosis, and promoting the division of endogenous cells, make it a promising candidate for these conditions.
In its HLHS program, Longeveron has seen remarkable results. A Phase 1 trial showcased a 100% transplant-free survival rate at up to five years of age, a significant milestone considering the fatality and transplant rates historically associated with this rare pediatric disease. The ongoing Phase 2 trial aims to compare outcomes of standard care plus Lomecel-B™ vs. standard care alone, with an eye towards accelerated or final approval from the FDA based on these promising results.
For Alzheimer’s Disease, Longeveron has completed a Phase 2a CLEAR-MIND trial involving 49 patients, building on the success of its initial Phase 1 trial. Encouraging efficacy signals from this study are driving the company to seek partnerships and funding to advance this program further, addressing a vast unmet need with potential significant market opportunities.
On the financial front, Longeveron is actively managing expenses and seeking additional capital, crucial for continuing its operations and funding its ambitious pipeline. The company has undertaken measures such as a reverse stock split and filing a registration statement with the SEC to facilitate capital raising. The company’s cash resources are currently insufficient to fund operations beyond the second quarter of 2024, highlighting the urgency of securing additional financing.
CEO Wa’el Hashad, marking his first anniversary with the company, emphasizes a strategic roadmap focused on leveraging Longeveron's scientific strengths while navigating the capital market environment. The company is also exploring revenue-generating activities like contract development and manufacturing services (CDMO) to bolster its financial position.
Longeveron's commitment to responsible financial stewardship and strategic operational goals positions it as a significant player in the regenerative medicine field. The company remains dedicated to bringing Lomecel-B™ to market, potentially transforming the treatment landscape for patients suffering from devastating conditions.
Longeveron Inc. (NASDAQ: LGVN) has commenced its Phase 2 clinical trial for Lomecel-B™ in Japan, targeting Aging-Related Frailty in the elderly population. The trial aims to enroll 45 patients and primarily focuses on assessing the safety of Lomecel-B™. Longeveron anticipates that the data collected might support limited approval under Japan's Act on the Safety of Regenerative Medicine (ASRM). The study builds on positive results from a previous U.S. trial, where patients experienced significant improvements in mobility. The trial will be conducted in collaboration with prominent medical institutions in Japan, addressing a critical need in a country with a significant aging population.
Longeveron Inc. (NASDAQ: LGVN) reported its financial results for Q4 and full year 2022, highlighting a net loss of $4.5 million in Q4, compared to $4.1 million in Q4 2021, and a total loss of $18.8 million for 2022 versus $17.0 million in 2021. Revenue for Q4 2022 was $0.1 million, down from $0.2 million in Q4 2021, largely due to fewer clinical trial participants. On a positive note, the company successfully published ELPIS I trial results in the European Heart Journal Open and initiated Phase 2 studies for Lomecel-BTM targeting aging-related frailty in Japan. They anticipate existing cash will cover expenses into H1 2024.
Longeveron Inc. (NASDAQ: LGVN) is set to release its fourth quarter and full year 2022 financial results on March 10, 2023, before U.S. markets open. A conference call will follow at 8:30 a.m. ET to discuss these results and a corporate update. The company, focused on regenerative medicines, is advancing its investigational product Lomecel-B™ for conditions including hypoplastic left heart syndrome, Alzheimer’s Disease, and Aging-Related Frailty.
For more details, investors can access the audio webcast on the company’s website.
Longeveron Inc. (NASDAQ: LGVN) has announced the appointment of Wa’el Hashad as Chief Executive Officer, effective March 1, 2023. With over 35 years of experience in drug approval, mergers, and business development, Hashad previously held executive positions at Avanir, Amgen, and Eli Lilly. His leadership is expected to drive growth across Longeveron's clinical programs focused on Alzheimer’s Disease, Aging-Related Frailty, and hypoplastic left heart syndrome. The company’s lead product, Lomecel-B™, is advancing through clinical trials, showcasing potential therapeutic benefits in regenerative medicine.
Longeveron Inc. (NASDAQ: LGVN) announced the publication of results from its ELPIS I trial for Lomecel-BTM targeting hypoplastic left heart syndrome (HLHS) in the European Heart Journal Open. The Phase 1b study included 10 infants who underwent the Glenn Procedure. Key findings revealed:
- No adverse safety events reported over one year.
- All patients were alive and transplant-free, maintaining expected growth.
- Improved cardiac function indicators noted.
- Evidence of Lomecel-BTM persistence in a subset of patients.
Longeveron is enrolling for the ELPIS II trial, further evaluating Lomecel-BTM's effectiveness, receiving support from the National Heart, Lung, and Blood Institute.
Longeveron Inc. (NASDAQ: LGVN) announced it plans to enroll the first patient in a Phase 2 clinical trial of Lomecel-B™ for Aging-Related Frailty in Japan in Q1 2023. The company has achieved significant progress in clinical development, with a focus on multiple indications like Hypoplastic Left Heart Syndrome (HLHS) and Alzheimer’s Disease. Additionally, Longeveron extended its cash runway into H2 2024, with approximately $20 million in cash reserves. The ELPIS II trial continues to enroll patients, and topline data from the Phase 2a Alzheimer’s trial is expected in early 2024.
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