Longeveron Inc. (LGVN) stock prices stayed stable over the course of August 13th, 2021, ending the trading day at USD$5.41. Subsequent premarket fluctuations saw the stock rise by 1.48%, bringing it up to USD$5.49.
Advancement of Clinical Trials
The second quarter of fiscal 2021 saw LGVN stock report excellent progress in the advancement of the company’s Lomovel-B clinical research programs. The company announced encouraging top-line results from the Phase 2b Aging Frailty trial. The trial was designed to evaluate the safety and efficacy of four different doses of Lomecel-B compared to placebo in Aging Frailty subjects.
Additional Developments
The company expects to announce top-line results from their other Phase 1/2 Aging Frailty “HERA” trial during Q3 2-21. The company also hopes to initiate its Phase 2 Alzheimer’s disease trial, as well as a Phase 2 Japan Aging Frailty trial later in the year. LGVN stock also reported dosing the first patient in its Phase 2 Hypoplastic Left Heart Syndrome trial in June 2021. July 2021 saw the company report Phase 1 Alzheimer’s disease trial data at the AAIC. Accordingly, a manuscript of the results have been submitted for peer-review publication.
LGVN Stock’s Solid Liquidity Position
The culmination of the second quarter of fiscal 2021 saw LGVN stock report a solid liquidity position. The company reported cash on hand in the amount of USD$16.8 million as of June 30th, 2021. This is comparable to the USD$0.8 million reported as of June 30th, 2020. The year-over-year increase in cash on hand was largely facilitated by the completion of an IPO. The initial public offering was completed in February of 2021.
LGVN Stock’s R&D Costs
Research and Development costs for Q2 2021 were reported at USD$2 million. This is up from the USD$0.7 million reported in the prior-year quarter. The 205% year-over-year increase was largely attributable to the increase in R&D expenses that were not reimbursable by grants. This includes USD$0.8 million of equity-based compensation recorded for Restricted Stock Units, as well as stock options granted during the quarter.
Future Outlook for LGVN Stock
LGVN stock reported a promising financial quarter, the momentum of which it hopes to carry through the upcoming quarters. The company is keen to facilitate significant and sustained increases in shareholder value. Investors are confident in the company’s ability to continue their trajectory of success.
