MIAMI, Nov. 04, 2025 (GLOBE NEWSWIRE) -- Longeveron Inc. (NASDAQ: LGVN), a clinical stage biotechnology company developing cellular therapies for life-threatening, rare pediatric and chronic aging-related conditions, today reported financial results for the quarter ended September 30, 2025 and provided a business update.
“I am excited to step in to lead Longeveron at this transformational period in both the Company’s history, and our advancement of laromestrocel,” said Than Powell , Interim Chief Executive Officer of Longeveron. “Longeveron has made significant progress advancing three stem cell therapy programs, with each step getting us closer to treating patients with life altering diseases. Our pivotal Phase 2b clinical trial evaluating laromestrocel as a potential treatment for HLHS, a rare pediatric congenital heart defect, is on track to deliver top-line trial results in the third quarter of 2026. If positive, this trial may be the foundation of the Company’s first BLA filing with the U.S. FDA. We believe our research is driving the next wave of medical innovation and Longeveron is well positioned to be an industry leader in stem cell clinical development and commercialization for the benefit of patients and their families.”
Development Programs Update
Longeveron’s investigational therapeutic candidate is
laromestrocel (Lomecel-B
TM
), a proprietary, scalable, allogeneic cellular therapy being evaluated in multiple indications.
Hypoplastic Left Heart Syndrome (HLHS) – a rare pediatric congenital heart birth defect in which the left ventricle (one of the pumping chambers of the heart) is either severely underdeveloped or missing.
Alzheimer’s disease (AD) – a neurodegenerative disorder that leads to progressive memory loss and death and currently has very limited therapeutic options.
Pediatric Dilated Cardiomyopathy (DCM) – a rare pediatric cardiovascular disease in which the muscles in one or more of the heart chambers become enlarged or stretched (dilated), with nearly 40% of children with DCM requiring a heart transplant or dying within two years of diagnosis.
Corporate Updates
Third Quarter 2025 Summary Financial Results
Conference Call and Webcast Details:
| Conference Call Number: | 1.877.407.0789 |
| Conference ID: | 13755997 |
| Call me ™ Feature: | Click Here |
| Webcast: | Click Here |
An archived replay of the webcast will be available on the “ Events & Presentations ” section of the Company’s website following the conference.
About Longeveron Inc.
Longeveron is a clinical stage biotechnology company developing regenerative medicines to address unmet medical needs. The Company’s lead investigational product is laromestrocel (Lomecel-B™), an allogeneic mesenchymal stem cell (MSC) therapy product isolated from the bone marrow of young, healthy adult donors. Laromestrocel has multiple potential mechanisms of action encompassing pro-vascular, pro-regenerative, anti-inflammatory, and tissue repair and healing effects with broad potential applications across a spectrum of disease areas. Longeveron is pursuing four pipeline indications: hypoplastic left heart syndrome (HLHS), Alzheimer’s disease, Pediatric Dilated Cardiomyopathy (DCM) and Aging-related Frailty. Laromestrocel development programs have received five distinct and important FDA designations: for the HLHS program - Orphan Drug designation, Fast Track designation, and Rare Pediatric Disease designation; and, for the AD program - Regenerative Medicine Advanced Therapy (RMAT) designation and Fast Track designation. For more information, visit www.longeveron.com or follow Longeveron on LinkedIn , X , and Instagram .
Forward-Looking Statements
Certain statements in this press release that are not historical facts are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, which reflect management’s current expectations, assumptions, and estimates of future operations, performance and economic conditions, and involve known and unknown risks, uncertainties, and other important factors that could cause actual results, performance, or achievements to differ materially from those anticipated, expressed, or implied by the statements made herein. Forward-looking statements are generally identifiable by the use of forward-looking terminology such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expects,” “intend,” “looks to,” “may,” “on condition,” “plan,” “potential,” “predict,” “preliminary,” “project,” “see,” “should,” “target,” “will,” “would,” or the negative thereof or comparable terminology, or by discussion of strategy or goals or other future events, circumstances, or effects and include, but are not limited to, statements about the various below-listed factors. Factors that could cause actual results to differ materially from those expressed or implied in any forward-looking statements in this release include, but are not limited to, our cash position and need to raise additional capital, the difficulties we may face in obtaining access to capital, and the dilutive impact it may have on our investors; our financial performance, and ability to continue as a going concern; the period over which we estimate our existing cash and cash equivalents will be sufficient to fund our future operating expenses and capital expenditure requirements; the ability of our clinical trials to demonstrate safety and efficacy of our product candidates, and other positive results; the timing and focus of our ongoing and future preclinical studies and clinical trials, and the reporting of data from those studies and trials; the size of the market opportunity for certain of our product candidates, including our estimates of the number of patients who suffer from the diseases we are targeting; our ability to scale production and commercialize the product candidate for certain indications; the success of competing therapies that are or may become available; the beneficial characteristics, safety, efficacy and therapeutic effects of our product candidates; our ability to obtain and maintain regulatory approval of our product candidates in the U.S. and other jurisdictions; our plans relating to the further development of our product candidates, including additional disease states or indications we may pursue; our plans and ability to obtain or protect intellectual property rights, including extensions of existing patent terms where available and our ability to avoid infringing the intellectual property rights of others; the need to hire additional personnel and our ability to attract and retain such personnel; and our estimates regarding expenses, future revenue, capital requirements and needs for additional financing.
Further information relating to factors that may impact the Company’s results and forward-looking statements are disclosed in the Company’s filings with the Securities and Exchange Commission, including Longeveron’s Annual Report on Form 10-K for the year ended December 31, 2024, filed with the Securities and Exchange Commission on February 28, 2025, its Quarterly Reports on Form 10-Q, and its Current Reports on Form 8-K. The Company operates in highly competitive and rapidly changing environment; therefore, new factors may arise, and it is not possible for the Company’s management to predict all such factors that may arise nor assess the impact of such factors or the extent to which any individual factor or combination thereof, may cause results to differ materially from those contained in any forward-looking statements. The forward-looking statements contained in this press release are made as of the date of this press release based on information available as of the date of this press release, are inherently uncertain, and the Company disclaims any intention or obligation, other than imposed by law, to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Investor and Media Contact:
Derek Cole
Investor Relations Advisory Solutions
derek.cole@iradvisory.com
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|
Longeveron Inc.
Condensed Balance Sheets (In thousands, except share and per share data) |
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|
September 30,
2025 |
December 31,
2024 |
|||||||
| (Unaudited) | ||||||||
| Assets | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 9,244 | $ | 19,232 | ||||
| Prepaid expenses and other current assets | 1,044 | 308 | ||||||
| Accounts and grants receivable | 52 | 84 | ||||||
| Total current assets | 10,340 | 19,624 | ||||||
| Property and equipment, net | 2,122 | 2,449 | ||||||
| Intangible assets, net | 2,309 | 2,401 | ||||||
| Operating lease asset, net | 608 | 882 | ||||||
| Other assets | 178 | 202 | ||||||
| Total assets | $ | 15,557 | $ | 25,558 | ||||
| Liabilities and stockholders’ equity | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 1,080 | $ | 99 | ||||
| Accrued expenses | 3,173 | 1,820 | ||||||
| Current portion of lease liability | 647 | 623 | ||||||
| Deferred revenue | 40 | 40 | ||||||
| Total current liabilities | 4,940 | 2,582 | ||||||
| Long-term liabilities: | ||||||||
| Lease liability | 336 | 824 | ||||||
| Other liabilities | 315 | 265 | ||||||
| Total long-term liabilities | 651 | 1,089 | ||||||
| Total liabilities | 5,591 | 3,671 | ||||||
| Commitments and contingencies (Note 9) | ||||||||
| Stockholders’ equity: | ||||||||
| Preferred stock, $0.001 par value per share, 5,000,000 shares authorized, no shares issued and outstanding at September 30, 2025, and December 31, 2024 | — | — | ||||||
| Class A common stock, $0.001 par value per share, 84,295,000 shares authorized, 19,576,924 shares issued and outstanding at September 30, 2025; 13,407,441 issued and outstanding at December 31, 2024 | 19 | 13 | ||||||
| Class B common stock, $0.001 par value per share, 15,705,000 shares authorized, 1,484,005 shares issued and outstanding at September 30, 2025, and December 31, 2024 | 1 | 1 | ||||||
| Additional paid-in capital | 136,813 | 131,480 | ||||||
| Accumulated deficit | (126,867 | ) | (109,607 | ) | ||||
| Total stockholders’ equity | 9,966 | 21,887 | ||||||
| Total liabilities and stockholders’ equity | $ | 15,557 | $ | 25,558 | ||||
See accompanying notes to unaudited condensed financial statements.
|
Longeveron Inc.
Condensed Statements of Operations (In thousands, except per share data) (Unaudited) |
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|
Three months ended
September 30, |
Nine months ended
September 30, |
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| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| Revenues | ||||||||||||||||
| Clinical trial revenue | $ | 94 | $ | 210 | $ | 651 | $ | 1,012 | ||||||||
| Contract manufacturing lease revenue | 6 | 186 | 18 | 377 | ||||||||||||
| Contract manufacturing revenue | 37 | 377 | 165 | 400 | ||||||||||||
| Total revenues | 137 | 773 | 834 | 1,789 | ||||||||||||
| Cost of revenues | 12 | 91 | 288 | 435 | ||||||||||||
| Gross profit | 125 | 682 | 546 | 1,354 | ||||||||||||
| Operating expenses | ||||||||||||||||
| General and administrative | 3,583 | 3,125 | 9,113 | 7,447 | ||||||||||||
| Research and development | 3,852 | 2,206 | 9,321 | 6,148 | ||||||||||||
| Total operating expenses | 7,435 | 5,331 | 18,434 | 13,595 | ||||||||||||
| Loss from operations | (7,310 | ) | (4,649 | ) | (17,888 | ) | (12,241 | ) | ||||||||
| Other income and (expenses) | ||||||||||||||||
| Other income, net | 89 | 230 | 628 | 349 | ||||||||||||
| Total other income, net | 89 | 230 | 628 | 349 | ||||||||||||
| Net loss | $ | (7,221 | ) | $ | (4,419 | ) | $ | (17,260 | ) | $ | (11,892 | ) | ||||
| Deemed dividend – warrant inducement offers | — | (149 | ) | — | (8,650 | ) | ||||||||||
| Net loss attributable to common stockholders | $ | (7,221 | ) | $ | (4,568 | ) | $ | (17,260 | ) | $ | (20,542 | ) | ||||
| Basic and diluted net loss per share | $ | (0.39 | ) | $ | (0.34 | ) | $ | (1.07 | ) | $ | (2.71 | ) | ||||
| Basic and diluted weighted average common shares outstanding | 18,373,198 | 13,627,793 | 16,124,871 | 7,572,601 | ||||||||||||
See accompanying notes to unaudited condensed financial statements.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/59470556-6cdc-4e00-86da-f80b4621b8da
