LGVN - Longeveron slips after Q4 earnings amid likely delay in key data readout

The clinical-stage biotechnology company Longeveron (NASDAQ:LGVN) has lost ~10% in the pre-market Friday after the company signaled a potential delay for results from its Aging Frailty trial for the lead candidate, Lomecel-B. The data from the Phase 1/2 trial called “HERA” are expected in H1 2022, Longeveron (LGVN) said, whereas, in November, the company anticipated data in Q1 2022. Meanwhile, the topline contraction continued with Q4 revenue at $0.2M indicating a decline of ~83% YoY. The full-year revenue fell ~77% YoY to $1.3M amid a decline in clinical trial revenue and grant revenue. R&D expenses for the quarter and full-year jumped ~42% YoY and ~163% YoY to $1.7M and $7.1M while net loss widened by ~193% YoY and ~360% YoY to $4.1M and $17.0M, respectively. The cash and equivalents stood at $35M at the 2021 year-end compared to $0.8M a year ago. The company said that its existing cash and short-term investments would

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Longeveron slips after Q4 earnings amid likely delay in key data readout