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Mar 31, 2021
Longeveron Q1 2021 Earnings Report
Reported financial results for the first quarter ended March 31, 2021 and provided a business update regarding ongoing clinical trials.
Key Takeaways
Longeveron Inc. reported its financial results for the first quarter ended March 31, 2021. The company's revenue was $0.4 million, and net loss was $3.1 million. Cash on hand was $24.5 million, which the company believes will be sufficient to cover expenses and capital requirements through at least the fourth quarter of 2022.
Phase 1 Alzheimer’s disease clinical study results were announced in April, and the Company remains on track to initiate a Phase 2 study in the second half of the year.
Top-line results from two recently completed US Phase 2 Aging Frailty trials are expected in the third quarter of this year.
A Phase 2 trial of Lomecel-B infusion in mild Alzheimer’s disease subjects is planned for the second half of 2021.
The Japanese Aging Frailty clinical trial is on track to initiate in the second half of 2021.
Revenue by Segment
Forward Guidance
The Company believes, based on the current operating plan and financial resources, that existing cash on hand will be sufficient to cover expenses and capital requirements through at least the fourth quarter of 2022.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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