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Jun 30, 2022
Longeveron Q2 2022 Earnings Report
Reported financial results for the second quarter ended June 30, 2022.
Key Takeaways
Longeveron reported revenue of $0.5 million for the second quarter of 2022, the same as in 2021. Net loss was $5.6 million, compared to $5.0 million for the same period in 2021. Cash and short-term investments totaled $27.0 million as of June 30, 2022.
Phase 2a trial of Lomecel-B for patients with mild Alzheimer’s Disease is proceeding on schedule, currently at 50% enrollment.
Japanese Pharmaceuticals and Medical Devices Agency Accepted Amended Aging Frailty study design August 8, 2022, allowing the trial to begin.
Top-line findings from the second phase of the Phase1/2 HERA trial show that the primary endpoint for safety was met in the randomized placebo-controlled portion of the study.
$27 million in cash, cash equivalents and short-term investments as of June 30, 2022, expected to be sufficient to fund operations into 2024.
Forward Guidance
Based on the current operating plan and financial resources, existing cash and short-term investments are expected to be sufficient to cover expenses and capital requirements into the first half of 2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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