Longeveron (NASDAQ: LGVN), a clinical-stage, regenerative-medicine biotechnology company developing cellular therapies for life-threatening and chronic aging-related conditions, is reporting financial results and a business update for the first quarter of 2024, the period ended March 31, 2024. Highlights of the report include that the company’s phase 2b clinical trial evaluating Lomecel-B(TM) in rare pediatric disease hypoplastic left heart syndrome (“HLHS”) is on track for completing enrollment by the end of this year; data from the phase 2a clinical trial evaluating Lomecel-B in Alzheimer’s disease has been selected to be a featured research oral presentation at this year’s Alzheimer’s Association International Conference; the completion of two financings last month resulting in gross proceeds of $11.4 million, which will fund continued clinical development; and focused expenditure management reduced first quarter total operating expenses 8% year-over-year. “In the first quarter, we continued to focus on advancing our cutting-edge cellular therapy research and its application through our investigational product candidate, Lomecel-B, in hypoplastic left heart syndrome and Alzheimer’s disease, both of which are devastating for impacted patients and their families,” said Longeveron CEO Wa’el Hashad in the press release. “Based on the strength of the data from our positive phase 1 study in HLHS, we are excited to complete enrollment in our ongoing Phase 2b study by the end of this year. The phase 1 data was the basis for the U.S. FDA awarding the HLHS program with three distinct and important designations: Orphan Drug designation, Fast Track designation and Rare Pediatric Disease designation, which, upon approval, may lead to granting of a Priority Review Voucher, a very valuable additional asset. Lastly, in April, we raised $11.4 million of gross proceeds from equity transactions, with participation from certain board members and insiders of the company, to fund continued clinical development of Lomecel-B.”
To view the full press release, visit https://ibn.fm/2r6m6
About Longeveron Inc.
Longeveron is a clinical-stage, biotechnology company developing regenerative medicines to address unmet medical needs. The company’s lead investigational product is Lomecel-B(TM), an allogeneic medicinal signaling cell (“MSC”) therapy product isolated from the bone marrow of young, healthy adult donors. Lomecel-B(TM) has multiple potential mechanisms of action encompassing provascular, proregenerative, anti-inflammatory, and tissue repair and healing effects with broad potential applications across a spectrum of disease areas. Longeveron is currently pursuing three pipeline indications: hypoplastic left heart syndrome (“HLHS”), Alzheimer’s disease and Aging-Related Frailty. To learn more about the company, visit www.Longeveron.com.
NOTE TO INVESTORS: The latest news and updates relating to LGVN are available in the company’s newsroom at https://ibn.fm/LGVN
About BioMedWire
BioMedWire (“BMW”) is a specialized communications platform with a focus on the latest developments in the Biotechnology (BioTech), Biomedical Sciences (BioMed) and Life Sciences sectors. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, BMW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, BMW brings its clients unparalleled recognition and brand awareness.
BMW is where breaking news, insightful content and actionable information converge.
To receive SMS alerts from BioMedWire, “Biotech” to 888-902-4192 (U.S. Mobile Phones Only)
For more information, please visit https://www.BioMedWire.com
Please see full terms of use and disclaimers on the BioMedWire website applicable to all content provided by BMW, wherever published or re-published: https://www.BioMedWire.com/Disclaimer
BioMedWire
San Francisco, CA
www.BioMedWire.com
415.949.5050 Office
Editor@BioMedWire.com
BioMedWire is powered by IBN
