Longeveron Inc. (NASDAQ:LGVN) shares are moving higher Wednesday afternoon following the circulation of a Zacks Small Cap Research note valuing the stock at $15.10 per share.
Zacks noted that the company is focusing on its, Lomecel-B treatment, which is being developed to combat Hypoplastic Left Heart Syndrome (HLHS), a severe congenital heart defect.
The company recently announced a successful meeting with investigators in its ongoing Phase 2b clinical trial for Lomecel-B, which aims to improve the outcomes of infants undergoing the Glenn Procedure, part of the multi-stage surgical treatment for HLHS.
Additionally, Longeveron has signed its first contract for its advanced manufacturing facility, which is expected to generate $4-5 million in annual revenue, helping fund its clinical trials.
LGVN Price Action: Longeveron’s shares were up by 102% at $1.66 at the time of writing, according to Benzinga Pro.
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