HomeTop MoversHere is why Longeveron Inc. (LGVN) stock went up in the after-hours...

Here is why Longeveron Inc. (LGVN) stock went up in the after-hours on Monday?

Longeveron Inc. (LGVN) shares gained 2.66% in after-hours on Monday, October 4, 2021, and closed the daily trading at $3.47. however, in the regular session, LGVN’s stock lost 7.40%. The stock volume remained 79409.0 shares. LGVN shares have been down 10.11% in the past week. Over the past three months, the stock has lost 55.58%, while over the past six months, it has shed 48.79%.

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LGVN topline results of Lomecel-B trial

On September 29, 2021, Longeveron Inc (LGVN) announced preliminary top-line results from ongoing biomarker analysis from the Company’s Phase 2b trial of Lomecel-B investigational cell therapy in Aging Frailty subjects.


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Biomarker analysis, which is considered exploratory in this trial, revealed that administration of Lomecel-B was associated with a statistically significant reduction in serum levels of soluble TIE-2 (sTIE-2) in a dose-dependent fashion at Day 270 compared to placebo. The levels fell by -243.13 ± 1073.21 pg/mL for the combined Lomecel-B arms (95% CI -519.69, -93.61; p=0.0051) at 270 days as compared to an increase of 356.03 ± 1018.95 pg/mL in the placebo group (95% CI -4.06, 786.87; p=0.0524).

LGVN multiple presentations at the recent conference

Longeveron Inc (LGVN) recently participated at the 11th Annual International Conference on Frailty & Sarcopenia Research (ICFSR), which took place virtually from September 29 to October 2, 2021.

The company presented Topline Results from the Phase 2b Study of Lomecel-B in Patients with Aging Frailty during the conference. Moreover, the company also did a presentation about Study Design and Rationale for HERA: A Phase I/II study evaluating the effects of Intravenous Delivery of Lomecel-B on Vaccine-Specific Antibody Responses in Subjects with Aging Frailty.

LGVN partnership with Kinesiometrics

On September 13, 2021, Longeveron Inc. (LGVN) entered into an agreement with Kinesiometrics Inc to provide a cutting-edge, digital data-driven solution for objective real-time measurement of functional capacity and quality of life in Longeveron’s clinical studies.

Final results of Lomecel-B Injection

On September 09, 2021, Longeveron Inc. (LGVN) announced the final clinical results from its Phase I clinical study of Lomecel-B in Hypoplastic Left Heart Syndrome (HLHS). Lomecel-B is an allogeneic, bone marrow-derived medicinal signalling cell (MSC) therapy product manufactured under current good manufacturing practice (cGMP) in Longeveron’s cell processing facility in Miami.

LGVN recent financial results announcement

On August 13, 2021, Longeveron Inc. (LGVN) reported its financial results for the quarter ended June 30, 2021.

Q2 2021 financial highlights

  • LGVN reported total revenue of $0.5 million in Q2 2021 compared to $0.9 million in the same period in 2020.
  • Total operating expenses were $5.27 million in Q2 2021 compared to $1.4 million in Q2 2020.
  • It suffered a net loss of $5.0 million or net loss per share of $0.26 in the second quarter of 2021 compared to $1.2 million or net loss per share of $0.08 for Q2 2020.
  • As of June 30, 2021, the company had total cash of $16.8 million compared to $0.8 million on June 30, 2020.

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Conclusion

The topline results of the Lomecel-B trial were the reason behind its turnaround in the after-hours on Monday and we can expect it to continue its surge in the coming trading session as well.

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