LGVN - Longeveron shares rise after Q4 results business update

Longeveron shares up ([[LGVN]] +11.0%) after the company posted fourth-quarter results and provided a business update listing out its achievements during the period. Total revenue for the quarter fell 33% to $1.2M year-over-year, as the company dealt with a fall in grant revenue during the period.Research and development expenses increased to $1.2M from $0.3M, primarily due to an increase in research and development expenses that were not reimbursable by grants.Net loss was $1.4M for the fourth quarter of 2020, compared to $0.5M last year.The company had cash of $0.8M, as of December 31, 2020, which it thinks will be sufficient to cover expenses and capital requirements through at least the fourth quarter of 2022.Highlights from Q1 2021:$29.1M Initial Public Offering, including partial exercise of over-allotment, and concurrent listing on Nasdaq.Completed 150 subject Phase 2b clinical study of Lomecel-B infusion for Aging Frailty, with top-line trial results anticipated in Q3 2021.Phase 1 clinical

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Longeveron shares rise after Q4 results, business update