Longeveron stock up 15.5% premarket after positive results in trial of treatment for rare congenital heart defect in infants

Longeveron Inc.'s stock (LGVN) rocketed 15.5% in premarket trade Tuesday, after the biotech said its Lomecel-B for the treatment of a congenital heart defect in infants (Hypoplastic Left Heart Syndrome) achieved 100% survival up to 5 years of age in a trial. The trial involved 10 patients who survived and remained transplant-free after receiving Lomecel-B during Stage 2 surgery. All patients were more than 4 years of age and 2 were 5. Additional long-term follow-up is ongoing. "Historical results have shown that children with HLHS have approximately 20% mortality by 5 years," the company said in a statement. The company expects to present the data at a scientific conference later in 2023. HLHS affects about 1,000 babies a year.

-Ciara Linnane

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05-09-23 0842ET

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