- In June 2023, Longeveron filed with the SEC to offer subscription rights worth up to $30 million of shares of Class A common stock to stockholders and holders of warrants. The rights offering, which became effective on August 17, 2023, is being made through a distribution of five tradable subscription rights (listed on The NASDAQ Capital Market under the ticker symbol LGVNR) to purchase shares of Class A common stock for each share of common stock and warrant to purchase common stock owned as of the record date of August 18, 2023, at a $3.00 subscription price per share. The subscription period opened on August 22, 2023, and will continue until September 21, 2023, unless extended at the company’s sole discretion.
- During Q2 2023, the company announced children in its ELPIS I Trial of Lomecel-B(TM) for HLHS had 100% survival up to five years of age after receiving the drug, as compared with an approximate 80% survival rate in historical trials. Lomecel-B(TM) for HLHS has previously received Fast Track Designation, Rare Pediatric Disease Designation, and Orphan Drug Designation from the U.S. Food and Drug Administration (“FDA”).
- In August 2023, the company announced the Phase 2 ELPIS II trial, funded by the National Heart, Lung, and Blood Institute (“NHLBI”) and using the company’s Lomecel-B(TM) asset in Hypoplastic Left Heart Syndrome (“HLHS”), has surpassed the 50% enrollment threshold. Additionally, the trial has activated its eighth clinical site location – one additional site beyond the seven originally planned – in order to try to expedite the completion of the trial enrollment.
- The company expects to share top-line results from its Phase 2a CLEAR MIND trial of Lomecel-B(TM) for the treatment of Alzheimer’s disease in early October 2023.
- Longeveron is conducting a Phase 2 study of Lomecel-B in patients with Aging-related Frailty in conjunction with Japan’s National Center for Geriatrics & Gerontology and Tokyo’s Juntendo University Hospital.
Longeveron (NASDAQ: LGVN) is a clinical-stage biotechnology company developing regenerative medicines to address unmet medical needs for specific aging-related and life-threatening conditions. The company’s research and therapies are aimed at improving the outcome of infants born with a life-threatening heart condition, as well as improving the healthspan for the aging population – the number of years a person is expected to live in relatively good health, free of chronic disease and disabilities of aging, with function and ability to perform activities of daily living.
Longeveron is involved in clinical trials in the following indications: Hypoplastic left heart syndrome (“HLHS”), Alzheimer’s disease, and…
NOTE TO INVESTORS: The latest news and updates relating to LGVN are available in the company’s newsroom at http://ibn.fm/LGVN
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