MIAMI, June 17, 2024 (GLOBE NEWSWIRE) -- Longeveron Inc. (NASDAQ: LGVN) ("Longeveron" or the "Company"), a clinical stage regenerative medicine biotechnology company developing cellular therapies for rare, life-threatening and chronic aging-related conditions, today announced that it has entered into definitive agreements for the exercise of certain existing warrants to purchase an aggregate of 1,697,891 shares of its Class A common stock having an exercise price of $2.35 per share, originally issued in Apr ...

Core Viewpoint - Longeveron Inc. has entered into agreements for the exercise of existing warrants, which will generate approximately $4.4 million in gross proceeds for the company, aimed at supporting its clinical and regulatory development efforts for its lead product, Lomecel-B™ [1][8]. Group 1: Financial Transactions - The company announced the exercise of warrants to purchase 1,697,891 shares of Class A common stock at an exercise price of $2.35 per share, originally issued in April 2024 [1]. - In exchange for the immediate exercise of existing warrants, Longeveron will issue new unregistered warrants to purchase up to 3,395,782 shares of Class A common stock at an exercise price of $2.50 per share, with a term of twenty-four months [2]. - The offering is expected to close on or about June 18, 2024, subject to customary closing conditions [8]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized for ongoing clinical and regulatory development of Lomecel-B™, targeting conditions such as hypoplastic left heart syndrome (HLHS) and Alzheimer's disease, as well as for capital expenditures, working capital, and other general corporate purposes [8]. Group 3: Company Overview - Longeveron is a clinical stage biotechnology company focused on developing regenerative medicines to address unmet medical needs, with its lead investigational product being Lomecel-B™, an allogeneic medicinal signaling cell therapy [10]. - The company is pursuing three pipeline indications: HLHS, Alzheimer's disease, and aging-related frailty [10].

Core Insights - Longeveron (NASDAQ:LGVN) stock is experiencing a significant rally due to positive trial news from the ongoing Phase 2 trial of Lomocel-B, a treatment for hypoplastic left heart syndrome (HLHS) [1][2][4] Group 1: Trial Progress and Investor Sentiment - The Phase 2 trial of Lomocel-B is ongoing, with a positive investigator meeting, indicating strong demand for the product as HLHS is often fatal and requires multiple surgeries [2] - Following the initial announcement of the investigator data, LGVN stock surged by 120.7%, with heavy trading volume of approximately 65.3 million shares, significantly above the daily average of 3.3 million shares [3][4] Group 2: Stock Performance - As of Thursday morning, LGVN stock is up 45.9%, with over 17.5 million shares traded, suggesting potential for continued upward momentum throughout the trading day [5]

In fact, as I'm writing this, LGVN stock has already more than doubled on the day. Indeed, as is the case with most such moves in the biotech sector, investors would be right to assume some sort of key headline around one of the company's prospective drugs is driving the tape. LGVN Stock Rockets Higher on Positive Update HLHS is often fatal and is the result of an undeveloped or absent left ventricle at birth. Reconstructive surgeries are needed to allow the right ventricle to do all the work, but given the ...

Longeveron's lead investigational therapeutic candidate is Lomecel-B™, a proprietary, scalable, allogeneic, adult human bone marrow-derived medicinal signaling cell therapy. ELPIS II is enrolling 38 pediatric patients, with enrollment completion anticipated by year end 2024. The clinical trial is being conducted in collaboration with the National Heart, Lung, and Blood Institute (NHLBI) through grants from the National Institutes of Health (NIH). ELPIS II builds on the positive clinical results of ELPIS I. ...

MIAMI, June 10, 2024 (GLOBE NEWSWIRE) -- Longeveron Inc. (NASDAQ:LGVN), a clinical stage biotechnology company developing regenerative medicines, today announced that it will participate in the Emerging Growth Virtual Conference taking place June 12-13, 2024. Date: Wednesday, June 12, 2024 Time: 1:45 p.m. ET Questions may be submitted in advance to Questions@EmergingGrowth.com or asked during the event. Longeveron is a clinical stage biotechnology company developing regenerative medicines to address unmet m ...

Core Viewpoint - Longeveron Inc. has launched a contract development and manufacturing business, which is expected to generate approximately $4-5 million in annual revenues, with its first contract signed with Secretome Therapeutics [1][2]. Company Overview - Longeveron Inc. is a clinical stage biotechnology company focused on developing regenerative medicines to address unmet medical needs, with its lead investigational product being Lomecel-B™, an allogeneic medicinal signaling cell therapy [3]. - The company is pursuing multiple indications, including hypoplastic left heart syndrome (HLHS), Alzheimer's disease, and aging-related frailty [3]. Manufacturing Facility - The new manufacturing services will operate from a 15,000 square feet state-of-the-art Good Manufacturing Practice (GMP) facility, which includes 3,000 square feet of cleanroom space and eight ISO 7 cleanrooms [1][2]. - The facility also features 1,150 square feet dedicated to process development, quality control, and warehousing [1]. Contract with Secretome Therapeutics - The first contract manufacturing agreement has been signed with Secretome Therapeutics, which is developing therapeutics from neonatal mesenchymal stem cells [1][2]. - This partnership aims to leverage Longeveron's cellular therapy manufacturing expertise to support the development of Secretome's lead product, STM-01, for chronic inflammatory diseases [2].

Core Insights - Longeveron Inc. has launched a contract development and manufacturing business, which is expected to generate approximately $4-5 million in annual revenues [1][2] - The first manufacturing services contract has been signed with Secretome Therapeutics, focusing on neonatal mesenchymal stem cell-based therapeutics [1][2] - The company operates a state-of-the-art 15,000 square feet GMP facility, including 3,000 square feet of cleanroom space [1][2] Company Overview - Longeveron Inc. is a clinical stage biotechnology company specializing in regenerative medicines to address unmet medical needs [3] - The lead investigational product is Lomecel-B™, an allogeneic medicinal signaling cell therapy with potential applications across various disease areas [3] - Current pipeline indications include hypoplastic left heart syndrome (HLHS), Alzheimer's disease, and aging-related frailty [3] Strategic Partnerships - The partnership with Secretome Therapeutics aims to advance their portfolio of therapeutics, leveraging Longeveron's expertise in cellular therapy manufacturing [2] - The collaboration is expected to enhance Longeveron's experience and capabilities in the field of regenerative medicine [2] Market Potential - The demand for cellular therapy manufacturing is high, presenting significant opportunities for Longeveron to utilize its GMP facility's unused capacity [2] - The contract manufacturing services are positioned to support other pharmaceutical organizations in advancing their development programs without the need for their own manufacturing facilities [2]

Core Insights - Longeveron Inc. is participating in the BIO International Convention from June 3-6, 2024, to explore partnership opportunities for its Alzheimer's disease program [1][2] - The company's lead investigational candidate, Lomecel-B™, has shown promising results in Phase 2a clinical trials, indicating its potential in treating mild Alzheimer's disease [3][4] Company Overview - Longeveron is a clinical stage biotechnology company focused on developing regenerative medicines to address unmet medical needs, with Lomecel-B™ being its primary product [5] - The company is pursuing three pipeline indications: hypoplastic left heart syndrome (HLHS), Alzheimer's disease, and aging-related frailty [5] Clinical Trial Results - In the completed Phase 2a clinical trial (CLEAR MIND), Lomecel-B™ demonstrated an overall slowing of disease progression in treated patients compared to placebo, achieving primary safety and secondary efficacy endpoints [3][4] - Statistically significant improvements were observed in pre-specified clinical and biomarker endpoints for specific groups receiving Lomecel-B™ [3] Upcoming Presentations - Full results from the CLEAR MIND study will be presented at the 2024 Alzheimer's Association International Conference (AAIC), highlighting the therapeutic potential of Lomecel-B™ [3]

Core Viewpoint - Longeveron Inc. is actively participating in the BIO International Convention to explore strategic partnerships for its Alzheimer's disease program, which has shown promising results in clinical trials [1][2]. Company Overview - Longeveron Inc. is a clinical stage biotechnology company focused on developing regenerative medicines to address unmet medical needs, with its lead product being Lomecel-B™, an allogeneic cellular therapy derived from the bone marrow of young, healthy adult donors [5]. - The company is pursuing three main pipeline indications: hypoplastic left heart syndrome (HLHS), Alzheimer's disease, and aging-related frailty [5]. Clinical Development - Lomecel-B™ has demonstrated the ability to slow or prevent disease worsening in patients with mild Alzheimer's disease during the completed Phase 2a clinical trial (CLEAR MIND), achieving primary safety and secondary efficacy endpoints [3]. - Statistically significant improvements were observed in pre-specified clinical and biomarker endpoints for specific groups treated with Lomecel-B™ compared to placebo [3]. - The full results from the CLEAR MIND study will be presented at the 2024 Alzheimer's Association International Conference (AAIC) [3]. Recent Announcements - Longeveron announced top-line results for the CLEAR MIND Phase 2a clinical trial on October 5, 2023, and provided additional clinical data on December 20, 2023 [4].