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Mar 31, 2023
Longeveron Q1 2023 Earnings Report
Reported financial results for the first quarter ended March 31, 2023.
Key Takeaways
Longeveron reported revenue of $0.3 million and a net loss of $4.6 million for the first quarter of 2023. The company's cash and marketable securities totaled $13.7 million as of March 31, 2023.
Long-term survival data from ELPIS I trial of Lomecel-BTM for Hypoplastic Left Heart Syndrome showed potential mortality benefit.
The first patient was dosed in Phase 2 clinical trial of Lomecel-BTM for Aging-Related Frailty in Japan.
R&D expenses increased by $1.4 million, or 94%, primarily due to an increase in research and development expenses that were not reimbursable by grants.
Net loss per share was $0.22 in the first quarter 2023.
Forward Guidance
Based on the Company’s current operating plan and financial resources, we believe that our existing cash and marketable securities will be sufficient to cover expenses and capital requirements into the second quarter of 2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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