Why Are Longeveron Shares Trading Higher Wednesday?

Longeveron Inc. LGVN shares are moving higher Wednesday afternoon following the circulation of a Zacks Small Cap Research note valuing the stock at $15.10 per share.

Zacks noted that the company is focusing on its, Lomecel-B treatment, which is being developed to combat Hypoplastic Left Heart Syndrome (HLHS), a severe congenital heart defect.

The company recently announced a successful meeting with investigators in its ongoing Phase 2b clinical trial for Lomecel-B, which aims to improve the outcomes of infants undergoing the Glenn Procedure, part of the multi-stage surgical treatment for HLHS.

Additionally, Longeveron has signed its first contract for its advanced manufacturing facility, which is expected to generate $4-5 million in annual revenue, helping fund its clinical trials.

Related Link: Longeveron® Announces Completion of Successful Investigator Meeting for On-going Phase 2b Clinical Trial Evaluating Lomecel-B™ as a Potential Treatment for HLHS, a Rare Pediatric Cardiac Disease

LGVN Price Action: Longeveron’s shares were up by 102% at $1.66 at the time of writing, according to Benzinga Pro.

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