LGVN Longeveron Inc.

6.58
-0.74  -10%
Previous Close 7.32
Open 7.09
52 Week Low 2.8401
52 Week High 45
Market Cap $137,198,981
Shares 20,850,909
Float 5,016,245
Enterprise Value $121,648,980
Volume 394,570
Av. Daily Volume 16,125,927
Stock charts supplied by TradingView

Upcoming Catalysts

Drug Stage Catalyst Date
Lomecel-B (HERA)
Flu vaccine in aging frailty
Phase 1/2
Phase 1/2
Premium membership is required to view catalyst dates, analyst ratings, earnings dates and cash burn data. Click here to unlock and sign up to a 14-day FREE TRIAL.

Drug Pipeline

Drug Stage Notes
Lomecel-B
Alzheimer's Disease
Phase 2a
Phase 2a
Phase 2a trial initiated January 5, 2022.
Lomecel-B
Metabolic Syndrome
Phase 2b
Phase 2b
Phase 2b trial ongoing.
Lomecel-B (RECOVER)
Acute Respiratory Distress Syndrome
Phase 1
Phase 1
Phase 1 trial enrollment to continue into 2022.
Lomecel-B (ELPIS II)
Hypoplastic Left Heart Syndrome
Phase 2
Phase 2
Phase 2 trial initiation of dosing announced July 6, 2021.
Lomecel-B
Aging Frailty
Phase 2b
Phase 2b
Phase 2b trial released August 13, 2021. Statistically significant placebo-adjusted difference in 6MWT distance not shown. Phase 2b biomarker data showed Lomecel-B had statistically significant reduction in serum levels of soluble TIE-2 in a dose-dependent fashion at Day 270 compared to placebo. The levels fell by -243.13 ± 1073.21 pg/mL compared to an increase of 356.03 ± 1018.95 pg/mL in the placebo group, noted September 29, 2021.

Latest News

  1. MIAMI, Jan. 12, 2022 (GLOBE NEWSWIRE) -- Longeveron Inc. (NASDAQ:LGVN) ("Longeveron" or the "Company"), a clinical stage biotechnology company developing cellular therapies for chronic aging-related and certain life-threatening conditions, announced today publication of the design and rationale from its recently completed Phase 2b aging frailty clinical trial with Lomecel-B in the Journal of Frailty and Aging. This peer-reviewed article describes the design of the trial which investigated Lomecel-B, a living cell therapy product, as a regenerative medicine strategy for the treatment of frailty in older adults.

    As a life-threatening geriatric condition, aging frailty affects up to 15% of Americans over the age of 65, or 8.1 million individuals…

    MIAMI, Jan. 12, 2022 (GLOBE NEWSWIRE) -- Longeveron Inc. (NASDAQ:LGVN) ("Longeveron" or the "Company"), a clinical stage biotechnology company developing cellular therapies for chronic aging-related and certain life-threatening conditions, announced today publication of the design and rationale from its recently completed Phase 2b aging frailty clinical trial with Lomecel-B in the Journal of Frailty and Aging. This peer-reviewed article describes the design of the trial which investigated Lomecel-B, a living cell therapy product, as a regenerative medicine strategy for the treatment of frailty in older adults.

    As a life-threatening geriatric condition, aging frailty affects up to 15% of Americans over the age of 65, or 8.1 million individuals, and manifests as a loss of muscle and decreased strength, slowed walking, low activity and energy levels, poor endurance, nutritional deficiencies, weight loss and fatigue.

    "There is increasing recognition of the unmet medical need in treating and preventing frailty in older adults, and we feel the acceptance of our trial design and rationale for publication in this prestigious, peer-reviewed journal reflects the urgency to develop potential new therapies," said Geoff Green, CEO of Longeveron.

    The publication by Longeveron Senior Scientist Dr. Anthony Oliva and colleagues is titled "The Design and Rationale of a Phase 2b, Randomized, Double-Blinded, and Placebo-Controlled Trial to Evaluate the Safety and Efficacy of Lomecel-B in Older Adults with Frailty," and is accessible here (https://link.springer.com/article/10.14283/jfa.2022.2) This trial was designed and conducted in partnership with the National Institute on Aging. The results of the trial were previously announced by the Company on August 13th, 2021.

    About Aging Frailty

    Aging Frailty is a life-threatening geriatric condition, which studies have estimated affect approximately 15% of Americans over the age of 65, or 8.1 million individuals. Aging Frailty patients are vulnerable to poor clinical outcomes compared to their age-matched peers despite sharing similar comorbidities and demographics, and therefore it is considered an extreme form of unsuccessful aging. Clinically, frailty manifests as a combination of symptoms that includes loss of muscle and decreased strength, slowed walking, low activity and energy levels, poor endurance, nutritional deficiencies, weight loss and fatigue. Aging Frailty is also associated with chronic low-level sterile inflammation. Individuals with Aging Frailty have decreased reserves and a reduced ability to cope with minor illnesses or stressors that would normally have minimal impact, such as an infection or a fall. As a result, the individual may be more likely to be hospitalized, need long term care, or die. Inflammation can contribute to the physical decline in Aging Frailty through multiple mechanisms, including detrimental effects on muscles, bone tissue, the immune system, cardiovascular function, and cognition.

    The necessity for identifying patients with Aging Frailty is well-acknowledged in the geriatric community, and the treatment of Aging Frailty and promotion of healthful aging are recognized priorities of the National Academy of Medicine and NIA/NIH. Despite the pressing need for interventions, there are no FDA-approved therapies that can slow down, reverse, or prevent Aging Frailty.

    About Longeveron Inc.

    Longeveron is a clinical stage biotechnology company developing cellular therapies for specific aging-related and life-threatening conditions. The Company's lead investigational product is the LOMECEL-B™ cell-based therapy product ("Lomecel-B"), which is derived from culture-expanded medicinal signaling cells (MSCs) that are sourced from bone marrow of young, healthy adult donors. Longeveron believes that by using the same cells that promote tissue repair, organ maintenance, and immune system function, it can develop safe and effective therapies for some of the most difficult disorders associated with the aging process and other medical disorders. Longeveron is currently sponsoring Phase 1 and 2 clinical trials in the following indications: Aging Frailty, Alzheimer's disease, the Metabolic Syndrome, Acute Respiratory Distress Syndrome (ARDS), and hypoplastic left heart syndrome (HLHS). The Company's mission is to advance Lomecel-B and other cell-based product candidates into pivotal Phase 3 trials, with the goal of achieving regulatory approvals, subsequent commercialization, and broad use by the healthcare community. Additional information about the Company is available at www.longeveron.com.

    Forward-Looking and Other Statements

    Certain statements in this press release that are not historical facts are forward-looking statements that reflect management's current expectations, assumptions, and estimates of future performance and economic conditions, and involve risks and uncertainties that could cause actual results to differ materially from those anticipated by the statements made herein. Forward-looking statements are generally identifiable by the use of forward-looking terminology such as "believe," "expects," "may," "looks to," "will," "should," "plan," "intend," "on condition," "target," "see," "potential," "estimates," "preliminary," or "anticipates" or the negative thereof or comparable terminology, or by discussion of strategy or goals or other future events, circumstances, or effects. Moreover, forward-looking statements in this release include, but are not limited to, statements about the ability of our clinical trials to demonstrate safety and efficacy of our product candidates, and other positive results, including achievement of primary endpoints; the timing and focus of our ongoing and future preclinical studies and clinical trials; the size of the market opportunity for our product candidates, the beneficial characteristics, safety, efficacy and therapeutic effects of our product candidates; our ability to obtain and maintain regulatory approval of our product candidates, our plans and ability to obtain or protect intellectual property rights, including extensions of existing patent terms where available and our ability to avoid infringing the intellectual property rights of others. Further information relating to factors that may impact the Company's results and forward-looking statements are disclosed in the Company's filings with the SEC. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company disclaims any intention or obligation, other than imposed by law, to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

    Contact:

    Brendan Payne

    Stern Investor Relations

    Tel: (212) 362-1200

    Email:

    Source: Longeveron Inc

    Source: LGVN

    Source: Longeveron



    Primary Logo

    View Full Article Hide Full Article
  2. MIAMI, Jan. 05, 2022 (GLOBE NEWSWIRE) -- Longeveron Inc. (NASDAQ:LGVN) ("Longeveron" or the "Company"), a clinical stage biotechnology company developing cellular therapies for chronic aging-related and certain life-threatening conditions, announced today the initiation of its Phase 2a clinical trial evaluating Lomecel-B as a treatment for Alzheimer's disease (AD). The first patient has consented to participate in the trial and patient screening has begun.

    This Phase 2a study is intended to build on encouraging preliminary Phase 1 data that were announced in 2021. Additionally, the Phase 2a trial is designed to measure brain anatomy using MRI, and include detailed assessments of the inflammatory and vascular systems thought to contribute…

    MIAMI, Jan. 05, 2022 (GLOBE NEWSWIRE) -- Longeveron Inc. (NASDAQ:LGVN) ("Longeveron" or the "Company"), a clinical stage biotechnology company developing cellular therapies for chronic aging-related and certain life-threatening conditions, announced today the initiation of its Phase 2a clinical trial evaluating Lomecel-B as a treatment for Alzheimer's disease (AD). The first patient has consented to participate in the trial and patient screening has begun.

    This Phase 2a study is intended to build on encouraging preliminary Phase 1 data that were announced in 2021. Additionally, the Phase 2a trial is designed to measure brain anatomy using MRI, and include detailed assessments of the inflammatory and vascular systems thought to contribute to the worsening of AD. The study, which will be conducted at a minimum of 6 centers, is led by Mark L. Brody, MD, of Brain Matters Research, Delray Beach, Florida.

    "This is an important next step in the progress of our Alzheimer's disease clinical program," said Geoff Green, CEO of Longeveron. "We are pleased to have initiated this Phase 2a trial, as this study is intended to build upon the Phase 1 results and marks an important milestone in our efforts to explore the therapeutic potential of Lomecel-B in AD," Green added.

    Dementia resulting from AD is associated with vascular function decline and involves a pro-inflammatory state. In Longeveron's prior Phase 1 trial, Lomecel-B treatment met the primary safety endpoint, with no safety concerns – including no evidence of Alzheimer's-related imaging abnormality, known as ARIA. In addition, the levels of certain pro-vascular and anti-inflammatory biomarkers increased in the Lomecel-B treated subjects compared to placebo.

    The Phase 2a trial is a double-blind, randomized, placebo-controlled design investigating safety and tolerability, as well as secondary endpoints that include cognitive function and biomarkers, following single or multiple infusions of Lomecel-B compared to placebo, in individuals with mild AD. The study consists of 4 treatment arms of 12 patients each, for a total target enrollment of 48 patients.

    About Longeveron Inc.

    Longeveron is a clinical stage biotechnology company developing cellular therapies for specific aging-related and life-threatening conditions. The Company's lead investigational product is the LOMECEL-B™ cell-based therapy product ("Lomecel-B"), which is derived from culture-expanded medicinal signaling cells (MSCs) that are sourced from bone marrow of young, healthy adult donors. Longeveron believes that by using the same cells that promote tissue repair, organ maintenance, and immune system function, it can develop safe and effective therapies for some of the most difficult disorders associated with the aging process and other medical disorders. Longeveron is currently sponsoring Phase 1 and 2 clinical trials in the following indications: Aging Frailty, Alzheimer's disease, the Metabolic Syndrome, Acute Respiratory Distress Syndrome (ARDS), and hypoplastic left heart syndrome (HLHS). The Company's mission is to advance Lomecel-B and other cell-based product candidates into pivotal Phase 3 trials, with the goal of achieving regulatory approvals, subsequent commercialization, and broad use by the healthcare community. Additional information about the Company is available at www.longeveron.com.

    Forward-Looking and Other Statements

    Certain statements in this press release that are not historical facts are forward-looking statements that reflect management's current expectations, assumptions, and estimates of future performance and economic conditions, and involve risks and uncertainties that could cause actual results to differ materially from those anticipated by the statements made herein. Forward-looking statements are generally identifiable by the use of forward-looking terminology such as "believe," "expects," "may," "looks to," "will," "should," "plan," "intend," "on condition," "target," "see," "potential," "estimates," "preliminary," or "anticipates" or the negative thereof or comparable terminology, or by discussion of strategy or goals or other future events, circumstances, or effects. Moreover, forward-looking statements in this release include, but are not limited to, statements about the ability of our clinical trials to demonstrate safety and efficacy of our product candidates, and other positive results, including achievement of primary endpoints; the timing and focus of our ongoing and future preclinical studies and clinical trials; the size of the market opportunity for our product candidates, the beneficial characteristics, safety, efficacy and therapeutic effects of our product candidates; our ability to obtain and maintain regulatory approval of our product candidates, our plans and ability to obtain or protect intellectual property rights, including extensions of existing patent terms where available and our ability to avoid infringing the intellectual property rights of others. Further information relating to factors that may impact the Company's results and forward-looking statements are disclosed in the Company's filings with the SEC. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company disclaims any intention or obligation, other than imposed by law, to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

    Contact:

    Brendan Payne

    Stern Investor Relations

    Tel: (212) 362-1200

    Email:

    Source: Longeveron Inc

    Source: LGVN

    Source: Longeveron



    Primary Logo

    View Full Article Hide Full Article
  3. MIAMI, Jan. 04, 2022 (GLOBE NEWSWIRE) -- Longeveron Inc. (NASDAQ:LGVN) ("Longeveron" or "Company"), a clinical stage biotechnology company developing cellular therapies for chronic, aging-related and life-threatening conditions, announced today that Geoff Green, Chief Executive Officer of Longeveron, will present at the H.C. Wainwright & Co. BioConnect 2022 Virtual Conference, and participate in a panel discussion moderated by Dr. Scott Gottlieb, the former commissioner of the U.S. Food and Drug Administration (FDA). Details of Longeveron's participation follow below:

    • Format: Company presentation
      Date: Available for on-demand viewing starting on Monday, January 10, 2022
      Time: 7:00 a.m. ET
    • Format: Panel discussion: "The Emerging Cell…

    MIAMI, Jan. 04, 2022 (GLOBE NEWSWIRE) -- Longeveron Inc. (NASDAQ:LGVN) ("Longeveron" or "Company"), a clinical stage biotechnology company developing cellular therapies for chronic, aging-related and life-threatening conditions, announced today that Geoff Green, Chief Executive Officer of Longeveron, will present at the H.C. Wainwright & Co. BioConnect 2022 Virtual Conference, and participate in a panel discussion moderated by Dr. Scott Gottlieb, the former commissioner of the U.S. Food and Drug Administration (FDA). Details of Longeveron's participation follow below:

    • Format: Company presentation

      Date: Available for on-demand viewing starting on Monday, January 10, 2022

      Time: 7:00 a.m. ET
    • Format: Panel discussion: "The Emerging Cell & Gene Therapy Landscape—From Hope to Reality"

      Date: Tuesday, January 11, 2022

      Time: 12:00 p.m. – 1:15 p.m. ET

    The pre-recorded company presentation will be available on the conference website beginning at 7 a.m. ET / 4 a.m. PT on January 10, 2022.

    A link to the presentation will be available at the same time via the Investors & Media section of the Company website (www.longeveron.com). The panel discussion will be available to registered conference attendees.

    About Longeveron Inc.

    Longeveron is a clinical stage biotechnology company developing cellular therapies for specific aging-related and life-threatening conditions. The Company's lead investigational product is the LOMECEL-B™ cell-based therapy product ("Lomecel-B"), which is derived from culture-expanded medicinal signaling cells (MSCs) that are sourced from bone marrow of young, healthy adult donors. Longeveron believes that by using the same cells that promote tissue repair, organ maintenance, and immune system function, it can develop safe and effective therapies for some of the most difficult disorders associated with the aging process and other medical disorders. Longeveron is currently sponsoring Phase 1 and 2 clinical trials in the following indications: Aging Frailty, Alzheimer's disease, the Metabolic Syndrome, Acute Respiratory Distress Syndrome (ARDS), and hypoplastic left heart syndrome (HLHS). The Company's mission is to advance Lomecel-B and other cell-based product candidates into pivotal Phase 3 trials, with the goal of achieving regulatory approvals, subsequent commercialization, and broad use by the healthcare community. Additional information about the Company is available at www.longeveron.com.

    Contact:

    Brendan Payne

    Stern Investor Relations

    Tel: (212) 362-1200

    Email:

    Source: Longeveron Inc.



    Primary Logo

    View Full Article Hide Full Article
    • HLHS is a rare congenital heart defect that affects approximately 1,000 babies in the U.S. per year
    • Orphan Drug Designation confers certain benefits and may result in seven year market exclusivity upon approval for this indication if all statutory and regulatory requirements are met
    • Supplements Rare Pediatric Disease Designation recently granted by FDA

    MIAMI, Dec. 06, 2021 (GLOBE NEWSWIRE) -- Longeveron Inc. (NASDAQ:LGVN) ("Longeveron" or "Company"), a clinical stage biotechnology company developing cellular therapies for chronic aging-related and certain life-threatening conditions, announced today that the U.S. Food and Drug Administration (FDA) has granted Orphan Drug Designation (ODD) for Lomecel-B for the treatment of Hypoplastic Left…

    • HLHS is a rare congenital heart defect that affects approximately 1,000 babies in the U.S. per year
    • Orphan Drug Designation confers certain benefits and may result in seven year market exclusivity upon approval for this indication if all statutory and regulatory requirements are met
    • Supplements Rare Pediatric Disease Designation recently granted by FDA

    MIAMI, Dec. 06, 2021 (GLOBE NEWSWIRE) -- Longeveron Inc. (NASDAQ:LGVN) ("Longeveron" or "Company"), a clinical stage biotechnology company developing cellular therapies for chronic aging-related and certain life-threatening conditions, announced today that the U.S. Food and Drug Administration (FDA) has granted Orphan Drug Designation (ODD) for Lomecel-B for the treatment of Hypoplastic Left Heart Syndrome (HLHS), a rare and life-threatening congenital heart defect in infants.

    ODD is intended to assist and encourage companies to develop safe and effective therapies for the treatment of rare diseases or conditions. ODD positions Longeveron to be able to potentially leverage a range of financial and regulatory benefits, including government grants for conducting clinical trials, waiver of FDA user fees for the potential submission of a marketing application, and certain tax credits. Receiving ODD may also result in the product receiving seven years market exclusivity upon approval for use in the rare disease or condition for which the product was designated if all of the statutory and regulatory requirements are met.

    "Adding to the Rare Pediatric Disease (RPD) designation already granted to Lomecel-B for treatment of HLHS, the FDA's decision to grant ODD to Lomecel-B for this indication indicates the ongoing and unmet need for new therapies to treat infants with HLHS," said Geoff Green, Chief Executive Officer at Longeveron. "Building on results from our completed Phase 1 safety-focused trial, we believe Lomecel-B has potential to improve outcomes for these severely impacted infants by way of repairing cardiac tissue and improving ventricular function. The combination of both RPD and ODD allows us to potentially move more efficiently through clinical development and regulatory review, and Lomecel-B may be eligible for a period of marketing exclusivity upon approval for this indication."

    Approximately 1,000 babies are born with HLHS each year in the U.S. HLHS babies have an underdeveloped left ventricle, which impairs the heart's ability to pump blood throughout the body. HLHS is often fatal without surgical intervention, in which three surgical procedures are performed over the period of about 5 years, to allow the right ventricle to be configured to pump blood to the body. Longeveron is evaluating the safety of Lomecel-B injection into the right ventricle during the second surgery (4 – 6 months of age), and the effect on cardiac function and other health status endpoints. Longeveron recently reported clinical results from its safety-focused Phase 1 clinical study of Lomecel-B in HLHS patients. When cardiac surgeons injected Lomecel-B directly into the babies' hearts at the time of the second surgery, the cells were well tolerated with no major adverse cardiac events and no infections considered to be related to the investigational treatment. One hundred percent of the babies enrolled in the Phase 1 trial (n=10) were alive and had not required a transplant between 2-3.5 years post-surgery. Other measurements of the babies' health, such as weight gain and growth pattern, matched that of normal healthy babies. Longeveron is currently enrolling ELPIS II, a 38-subject, Phase 2 randomized, double-blind, controlled clinical trial examining the effect of Lomecel-B in HLHS affected infants. ELPIS II is being funded in part by a grant from the National Institute of Health's National Heart, Lung, and Blood Institute (NHLBI; Grant number 1UG3HL148318), in collaboration with Longeveron, and is led by Principal Investigator Sunjay Kaushal, MD, PhD, Division Head, Cardiovascular-Thoracic Surgery, Ann and Robert H. Lurie Children's Hospital of Chicago.

    "We are gratified to receive both rare pediatric disease and orphan drug designations from FDA for this clinical trial program," stated Sunjay Kaushal, M.D, Ph.D. study Principal Investigator and Division Head of Cardiovascular Thoracic Surgery at Lurie Children's Hospital of Chicago. "This is a severe condition and a significant unmet medical need, and these important designations will be vital to facilitating a potentially more rapid development program. My colleagues around the country and I are extremely excited about the progress of the current trial, and we look forward to seeing this program move through the regulatory and clinical pathway."

    About Longeveron Inc.

    Longeveron is a clinical stage biotechnology company developing cellular therapies for specific aging-related and certain life-threatening conditions. The Company's lead investigational product is the LOMECEL-B™ cell-based therapy product ("Lomecel-B"), which is derived from culture-expanded medicinal signaling cells (MSCs) that are sourced from bone marrow of young, healthy adult donors. Longeveron believes that by using the same cells that promote tissue repair, organ maintenance, and immune system function, it can develop safe and effective therapies for some of the most difficult disorders associated with the aging process and other medical disorders. Longeveron is currently sponsoring Phase 1 and 2 clinical trials in the following indications: Aging Frailty, Alzheimer's disease, the Metabolic Syndrome, Acute Respiratory Distress Syndrome (ARDS), and hypoplastic left heart syndrome (HLHS). The Company's mission is to advance Lomecel-B and other cell-based product candidates into pivotal Phase 3 trials, with the goal of achieving regulatory approvals, subsequent commercialization and broad use by the healthcare community. Additional information about the Company is available at www.longeveron.com.

    Cautionary Note Regarding Forward-Looking Statements

    Certain statements in this press release that are not historical facts are forward-looking statements that reflect management's current expectations, assumptions, and estimates of future performance and economic conditions, and involve risks and uncertainties that could cause actual results to differ materially from those anticipated by the statements made herein. Forward-looking statements are generally identifiable by the use of forward-looking terminology such as "believe," "expects," "may," "looks to," "will," "should," "plan," "intend," "on condition," "target," "see," "potential," "estimates," "preliminary," or "anticipates" or the negative thereof or comparable terminology, or by discussion of strategy or goals or other future events, circumstances, or effects. Moreover, forward-looking statements in this release include, but are not limited to, statements about the ability of our clinical trials to demonstrate safety and efficacy of our product candidates, and other positive results; the timing and focus of our ongoing and future preclinical studies and clinical trials; the size of the market opportunity for our product candidates, the beneficial characteristics, safety, efficacy and therapeutic effects of our product candidates; our ability to obtain and maintain regulatory approval of our product candidates, our plans and ability to obtain or protect intellectual property rights, including extensions of existing patent terms where available and our ability to avoid infringing the intellectual property rights of others. Further information relating to factors that may impact the Company's results and forward-looking statements are disclosed in the Company's filings with the Securities and Exchange Commission, including our Quarterly Report on Form 10-Q for the period ended September 30, 2021. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company disclaims any intention or obligation, other than imposed by law, to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

    Contact:

    Brendan Payne

    Stern Investor Relations

    Tel: (212) 362-1200

    Email:



    Primary Logo

    View Full Article Hide Full Article
  4. MIAMI, Dec. 03, 2021 (GLOBE NEWSWIRE) -- Longeveron Inc. (NASDAQ:LGVN) ("Longeveron" or "Company"), a clinical stage biotechnology company developing cellular therapies for chronic aging-related and life-threatening conditions, today announced the closing of its previously announced private placement of common stock and warrants.

    The Company sold approximately 1.17 million shares of its common stock and 1.17 million warrants to purchase 1.17 million shares of common stock. The warrants will be exercisable immediately upon the date of issuance and have an exercise price of $17.50 per share. The warrants will expire five years from the date of issuance. The purchase price for one share of common stock and one corresponding warrant will be $17.50…

    MIAMI, Dec. 03, 2021 (GLOBE NEWSWIRE) -- Longeveron Inc. (NASDAQ:LGVN) ("Longeveron" or "Company"), a clinical stage biotechnology company developing cellular therapies for chronic aging-related and life-threatening conditions, today announced the closing of its previously announced private placement of common stock and warrants.

    The Company sold approximately 1.17 million shares of its common stock and 1.17 million warrants to purchase 1.17 million shares of common stock. The warrants will be exercisable immediately upon the date of issuance and have an exercise price of $17.50 per share. The warrants will expire five years from the date of issuance. The purchase price for one share of common stock and one corresponding warrant will be $17.50. The gross proceeds to the Company from the private placement are estimated to be approximately $20.5 million before deducting the placement agent's fees and other estimated offering expenses.

    Longeveron intends to use the net proceeds from the private placement to support the ongoing clinical development of Lomecel-B, the Company's lead investigational product, which is currently being evaluated as a potential therapeutic for Hypoplastic Left Heart Syndrome, Aging Frailty Alzheimer's Disease and other diseases. In addition, the Company plans to use the proceeds to fund additional research and development, product development, and for general and administrative purposes.

    EF Hutton, a division of Benchmark Investments, LLC, acted as exclusive placement agent for the offering.

    The shares of common stock and warrants described above have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission (SEC) or an applicable exemption from such registration requirements. The securities were offered only to accredited investors. Pursuant to a registration rights agreement with the investors, the Company has agreed to file one or more registration statements with the SEC covering the resale of the shares of common stock and the shares issuable upon exercise of the warrants.

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

    About Longeveron Inc.

    Longeveron is a clinical stage biotechnology company developing cellular therapies for specific aging-related and life-threatening conditions. The Company's lead investigational product is the LOMECEL-B™ cell-based therapy product ("Lomecel-B"), which is derived from culture-expanded medicinal signaling cells (MSCs) that are sourced from bone marrow of young, healthy adult donors. Longeveron believes that by using the same cells that promote tissue repair, organ maintenance, and immune system function, it can develop safe and effective therapies for some of the most difficult disorders associated with the aging process and other medical disorders. Longeveron is currently sponsoring Phase 1 and 2 clinical trials in the following indications: Aging Frailty, Alzheimer's disease, the Metabolic Syndrome, Acute Respiratory Distress Syndrome (ARDS), and hypoplastic left heart syndrome (HLHS). The Company's mission is to advance Lomecel-B and other cell-based product candidates into pivotal Phase 3 trials, with the goal of achieving regulatory approvals, subsequent commercialization and broad use by the healthcare community. Additional information about the Company is available at www.longeveron.com.

    Cautionary Note Regarding Forward-Looking Statements

    Certain statements in this press release that are not historical facts are forward-looking statements that reflect management's current expectations, assumptions, and estimates of future performance and economic conditions, and involve risks and uncertainties that could cause actual results to differ materially from those anticipated by the statements made herein. Forward-looking statements are generally identifiable by the use of forward-looking terminology such as "believe," "expects," "may," "looks to," "will," "should," "plan," "intend," "on condition," "target," "see," "potential," "estimates," "preliminary," or "anticipates" or the negative thereof or comparable terminology, or by discussion of strategy or goals or other future events, circumstances, or effects. Moreover, forward-looking statements in this release include, but are not limited to, anticipated use of proceeds, statements about the ability of our clinical trials to demonstrate safety and efficacy of our product candidates, and other positive results, including achievement of primary endpoints; the timing and focus of our ongoing and future preclinical studies and clinical trials; the size of the market opportunity for our product candidates, the beneficial characteristics, safety, efficacy and therapeutic effects of our product candidates; our ability to obtain and maintain regulatory approval of our product candidates, our plans and ability to obtain or protect intellectual property rights, including extensions of existing patent terms where available and our ability to avoid infringing the intellectual property rights of others. Further information relating to factors that may impact the Company's results and forward-looking statements are disclosed in the Company's filings with the Securities and Exchange Commission, including our Quarterly Report on Form 10-Q for the period ended September 30, 2021. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company disclaims any intention or obligation, other than imposed by law, to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

    Investor Relations:

    Brendan Payne

    Stern Investor Relations

    Tel: (212) 362-1200

    Email:



    Primary Logo

    View Full Article Hide Full Article
View All Longeveron Inc. News