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MIAMI - Longeveron Inc. (NASDAQ:LGVN), a clinical stage regenerative medicine biotechnology company with a current market capitalization of $16.91 million, announced Wednesday a leadership reorganization with Than Powell appointed as interim Chief Executive Officer, effective immediately. According to InvestingPro data, the company has demonstrated strong revenue growth of 68.67% over the last twelve months, though it remains in development stage with significant ongoing investments in research.
Powell, who previously served as Chief Business Officer and head of business development, replaces Wa’el Hashad, who is stepping down as CEO and board member to pursue other opportunities. Concurrently, Dr. Joshua Hare, the company’s co-founder and Chief Science Officer, has been appointed Executive Chairman of the Board of Directors. InvestingPro analysis reveals the company maintains a healthy balance sheet with a current ratio of 3.43, indicating strong short-term liquidity despite ongoing operational losses.
The board plans to conduct a national search for a permanent CEO, according to the company’s statement.
Longeveron is developing laromestrocel, a stem cell therapy that has shown positive initial outcomes in five clinical trials across three indications. The company’s pivotal Phase 2b clinical trial evaluating laromestrocel as a potential treatment for hypoplastic left heart syndrome (HLHS) has achieved full enrollment, with top-line results anticipated in 2026.
"Laromestrocel has demonstrated positive initial outcomes in five clinical trials across three indications," said Dr. Hare. "With our pivotal Phase 2b clinical trial evaluating laromestrocel as a potential treatment for HLHS having achieved full enrollment, we continue to anticipate top-line trial results in 2026."
Powell brings over 25 years of pharmaceutical and biotech leadership experience from organizations including GSK and Eli Lilly. He holds a Bachelor of Arts in Economics from DePauw University and an MBA from Stanford University.
Dr. Hare, a double board-certified cardiologist with over 35 years of biomedical research experience, is Longeveron’s co-founder and inventor of the company’s patent portfolio.
The company currently has three development programs at the stage of pivotal clinical trials, focusing on HLHS, Alzheimer’s disease, and Pediatric Dilated Cardiomyopathy. Financial data from InvestingPro shows the company maintains an impressive gross profit margin of 78.73%, though it reported an EBITDA of -$18.35 million in the last twelve months. For detailed analysis and additional insights, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers, covering over 1,400 US stocks including LGVN.
In other recent news, Longeveron LLC reported its Q2 2025 earnings, revealing a 31% decline in revenue to $700,000 for the first half of the year. The company also disclosed a net loss that expanded to approximately $10 million. Despite these financial setbacks, Longeveron experienced a notable stock price increase of 25.89%, suggesting investor optimism possibly tied to strategic advancements and product developments. These developments were highlighted during the company’s earnings call. The market’s positive reaction indicates a focus on future potential rather than current financial metrics. While specific details of the advancements were not disclosed, the company’s trajectory appears to have captured investor interest.
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