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PITTSBURGH - Longevity Health Holdings, Inc. (NASDAQ:XAGE), a company specializing in regenerative bio-aesthetics, diagnostics, and nutrition for healthy aging, has announced the sale of 479,621 shares of common stock, raising approximately $1.96 million. The sale, conducted at an average price of $4.08 per share through its at-the-market equity offering, is set to extend the company’s cash runway into the first quarter of fiscal year 2026. The company’s stock, currently trading at $2.38, has experienced significant volatility, with InvestingPro data showing a 97% decline over the past year.
Rajiv Shukla, the Chairman and CEO of XAGE, expressed satisfaction with the additional financial security as the company advances toward its merger with 20/20 BioLabs, a developer of early detection tests for chronic diseases. "This successful ATM offering reflects continued investor confidence in our vision and growth strategy," Shukla stated. According to InvestingPro analysis, the company’s financial health score remains weak at 1.6, with current liabilities exceeding liquid assets, highlighting the importance of this capital raise.
The company’s current offerings include Carmell Secretome™ and Elevai Exosomes™, both aimed at skin and hair health. Meanwhile, 20/20 BioLabs is expected to introduce a new blood test for chronic inflammation monitoring within this quarter, adding to its portfolio of proactive health management tools.
The proposed merger with 20/20 is anticipated to enhance XAGE’s product line, potentially meeting Nasdaq’s initial listing rules and advancing the commercialization and development of innovative health products. However, the press release also contains forward-looking statements that are subject to risks and uncertainties, including the risk that the merger may not be completed as planned, or that the combined company may not achieve the anticipated benefits. Financial metrics from InvestingPro show the company’s current market capitalization at $2.39 million, with a gross profit margin of 56% in the last twelve months, though the company remains unprofitable with negative EBITDA of $5.04 million.
Investors and security holders are advised to read the Form S-4, the Proxy Statement, and other documents related to the proposed merger filed with the SEC, as they contain important information about the transaction. For comprehensive analysis and additional insights, investors can access over 10 more exclusive ProTips and detailed financial metrics through InvestingPro, including key valuation metrics and future growth projections.
This news article is based on a press release statement and aims to present the facts surrounding XAGE’s recent share sale and upcoming merger without speculation on the potential impact or broader industry trends.
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