Longeveron nasdaq Lgvn Stock Doubles on Promising Elpis Ii Trial Update

Longeveron (NASDAQ: LGVN) Stock Doubles on Promising ELPIS II Trial Update

Longeveron (NASDAQ: LGVN) stock more than doubled during intraday trading Wednesday after the company revealed updates from the ELPIS II trial for Lomecel-B™ in HLHS.

Longeveron has reported significant advancements in its ongoing ELPIS II Phase 2b clinical trial evaluating Lomecel-B™ for Hypoplastic Left Heart Syndrome (HLHS) treatment.  The company recently concluded an investigator meeting to review the trial’s progress.

HLHS, a rare congenital heart defect in children, currently presents a survival rate of 50-60% into adolescence, with existing treatments involving complex surgeries. In contrast, Lomecel-B™, derived from bone marrow, demonstrated a 100% transplant-free survival rate up to five years of age in the earlier ELPIS I Phase 1 trial, marking a significant improvement over historical mortality rates of approximately 20%.

The ELPIS II trial aims to build upon these promising results. It involves collaboration with several renowned children’s treatment centers across the United States, including the Children’s Hospital of Los Angeles, Children’s Healthcare of Atlanta, and Boston Children’s Hospital. These collaborations are critical in advancing the understanding of the safety and efficacy of Lomecel-B™ in treating children with HLHS. The company expects to complete enrollment for the trial by the end of 2024.

Dr. Ram Kumar Subramanyan, a principal investigator in the trial, underscored the critical need for improved treatments to enhance right ventricular function in infants, which could profoundly impact short- and long-term patient outcomes. Nataliya Agafonova, MD, Chief Medical Officer of Longeveron, expressed optimism about Lomecel-B™’s potential as a regenerative therapy for infants with HLHS.

In addition to HLHS, Longeveron is exploring Lomecel-B™ for other conditions such as Alzheimer’s disease and aging-related frailty. The company’s research efforts are supported by grants from the National Heart, Lung, and Blood Institute (NHLBI) and the National Institutes of Health (NIH).

Longeveron (NASDAQ: LGVN) Stock Reaction

On Wednesday, LGVN stock soared 120.73%, closing at $1.81, marking a 66.06% increase for the week. The trading volume was 68,947,779 shares, significantly higher than the average daily volume of 3.40 million.