Longeveron Inc. - LGVNR STOCK NEWS

Longeveron (NASDAQ: LGVN) presented positive Phase 2a clinical trial results for Lomecel-B™ in mild Alzheimer's Disease at the Alzheimer's Association International Conference® (AAIC) 2024. The CLEAR MIND trial, involving 48 patients, demonstrated improved cognitive function, quality of life, and brain volume. Key findings include:

- Established safety profile with no hypersensitivity or infusion-related reactions
- Slowing of disease worsening compared to placebo
- Statistically significant improvements in cognitive assessments and daily living activities
- 49% reduction in brain volume loss
- Potential reduction in neuroinflammation

Lomecel-B™ has received both Regenerative Medicine Advanced Therapy (RMAT) and Fast Track designations from the FDA for mild Alzheimer's Disease treatment.

Longeveron Inc. (NASDAQ: LGVN) has closed a $9.0 million registered direct offering priced at-the-market under Nasdaq rules. The company issued 2,236,026 shares of Class A common stock (or equivalents) at $4.025 per share. In a concurrent private placement, LGVN issued unregistered warrants to purchase up to 2,236,026 shares at $3.90 per share, exercisable for 24 months. H.C. Wainwright & Co. acted as the exclusive placement agent. Longeveron plans to use the net proceeds for clinical and regulatory development of Lomecel-B™, focusing on HLHS and Alzheimer's disease treatments, regulatory approvals, capital expenditures, and working capital.

Longeveron Inc. (NASDAQ: LGVN) has announced a $9.0 million registered direct offering priced at-the-market under Nasdaq rules. The company will issue and sell 2,236,026 shares of Class A common stock at $4.025 per share. Additionally, in a concurrent private placement, Longeveron will issue unregistered warrants to purchase up to 2,236,026 shares of Class A common stock at $3.90 per share, exercisable for 24 months.

The offering is expected to close on July 19, 2024. H.C. Wainwright & Co. is acting as the exclusive placement agent. Longeveron plans to use the net proceeds for clinical and regulatory development of Lomecel-B™, obtaining regulatory approvals, capital expenditures, working capital, and other corporate purposes.

Longeveron (NASDAQ: LGVN) has received Fast Track designation from the FDA for Lomecel-B™, its investigational cellular therapy for mild Alzheimer's Disease. This follows the recent Regenerative Medicine Advanced Therapy (RMAT) designation granted on July 9, 2024. The Fast Track status aims to expedite development and review of Lomecel-B™, recognizing its potential to address unmet medical needs in Alzheimer's treatment.

Lomecel-B™ demonstrated promising results in the CLEAR MIND Phase 2a clinical trial, showing an overall slowing/prevention of disease worsening compared to placebo. Full results from this trial will be presented at the upcoming Alzheimer's Association International Conference® (AAIC) in July 2024, including a Featured Research Session oral presentation and a poster presentation.

Longeveron announced that the U.S. FDA granted Regenerative Medicine Advanced Therapy (RMAT) designation to Lomecel-B™ for treating mild Alzheimer’s Disease. This makes Lomecel-B™ the first cellular therapeutic candidate to receive RMAT for Alzheimer’s. The therapy is being evaluated in multiple conditions, including Alzheimer’s (Phase 2a completed), Aging-related Frailty (Phase 2b completed), and Hypoplastic Left Heart Syndrome (HLHS) (Phase 2b ongoing). The CLEAR MIND Phase 2a trial indicated that Lomecel-B™ slowed/prevented disease progression compared to placebo, meeting safety and efficacy endpoints. Full results will be presented in July 2024. RMAT designation aims to expedite the drug development process and offers benefits like FDA guidance and potential priority review.

Longeveron (NASDAQ: LGVN) has elected Neha Motwani to its Board of Directors during the Annual Meeting of Stockholders. Ms. Motwani brings over 25 years of healthcare investment banking experience, having raised approximately $7.0 billion in transactions while serving at firms like William Blair, Truist Securities, and Oppenheimer. Longeveron, a clinical-stage biotech company, is developing cellular therapies for conditions such as hypoplastic left heart syndrome (HLHS) and Alzheimer’s disease. Co-founder Joshua Hare emphasized that her expertise in biopharma operations, financing, and capital markets will significantly benefit the company as it advances its Lomecel-B™ therapy, which has shown positive results in five clinical trials across three indications.

Longeveron has announced the election of Roger Hajjar, MD, to its Board of Directors. Dr. Hajjar, an acclaimed scientist in cardiac gene therapy and current Director of the Gene and Cell Therapy Institute at Mass General Brigham, brings extensive expertise to the company. His contributions in gene therapy have initiated numerous clinical trials and his methodologies are globally implemented. This move is part of Longeveron's strategy to refresh its Board with experienced leaders to enhance its ongoing therapeutic developments, including Lomecel-B™. Dr. Hajjar's background includes 500 publications and various awards. His academic credentials include degrees from Johns Hopkins and Harvard Medical School, with significant professional contributions at Massachusetts General Hospital, Mount Sinai, and Flagship Pioneering.

Longeveron has raised $4.4 million in gross proceeds from the exercise of existing warrants to purchase 1,697,891 shares of its Class A common stock at $2.35 per share, originally issued in April 2024. The exercise was facilitated by H.C. Wainwright & Co. as the exclusive placement agent. In return, Longeveron has issued new unregistered warrants for 3,395,782 shares, exercisable at $2.50 per share for 24 months. The company plans to use the net proceeds to fund the clinical and regulatory development of Lomecel-B™ for conditions like HLHS and Alzheimer’s, as well as for general corporate purposes. The new warrants were issued in a private placement and are not registered under the Securities Act.

Longeveron, a clinical stage biotech firm listed on NASDAQ as LGVN, will participate in the Virtual Life Sciences Investor Forum on June 20, 2024. The company focuses on developing cellular therapies for critical and aging-related conditions, such as hypoplastic left heart syndrome (HLHS) and Alzheimer’s disease. The event includes a fireside chat scheduled at 10:30 a.m. ET on June 20, 2024. The webcast can be accessed via the 'Events and Presentations' section of Longeveron's website, with a replay available for 90 days.