Why Longeveron Shares Are Rising Today

Longeveron Inc LGVN is trading higher Wednesday after the company announced initiation of the Phase 2a clinical trial of lomecel-B for the treatment of Alzheimer's disease.

The trial is designed to measure brain anatomy using MRI, and include detailed assessments of the inflammatory and vascular systems thought to contribute to the worsening of Alzheimer's disease.

Longeveron said the first patient has consented to participate in the trial and patient screening has begun.

"This is an important next step in the progress of our Alzheimer’s disease clinical program. We are pleased to have initiated this Phase 2a trial, as this study is intended to build upon the Phase 1 results and marks an important milestone in our efforts to explore the therapeutic potential of Lomecel-B in AD," said Geoff Green, CEO of Longeveron.

Longeveron is a biotechnology company developing cellular therapies for specific ageing-related and life-threatening conditions.

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LGVN Price Action: Longeveron has traded as low as $2.84 and as high as $45 over a 52-week period.

The stock was up 15% at $13.34 at time of publication.

Photo: jarmoluk from Pixabay.