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Baluch Khoso, a director at Longeveron Inc. (NASDAQ:LGVN), recently sold 1,250 shares of the company's Class A Common Stock. The transaction, which took place on December 2, 2024, was executed at a price of $2.0705 per share, amounting to a total sale value of $2,588. According to InvestingPro data, this sale comes amid a challenging year for the company's stock, which has declined by 90% over the past twelve months, though analysis suggests the stock is currently undervalued. Following this sale, Khoso holds 23,750 shares, which includes Restricted Stock Units subject to future vesting. This transaction comes after a previously filed Form 4 had under-reported Khoso's holdings due to a one-for-ten stock split in April 2024. InvestingPro analysis reveals the company maintains a strong liquidity position, with more cash than debt on its balance sheet and a current ratio of 7.67. Subscribers to InvestingPro can access 7 additional key insights about LGVN's financial health and market position.
In other recent news, Longeveron Inc. has been making significant strides in its operations. The company reported a substantial 177% increase in revenue, reaching $1.8 million, and a 14% decrease in operating costs during its Q3 2024 earnings call. Despite these positive developments, Longeveron reported a net loss of $11.9 million, an improvement of 22% from the previous year.
The company's leading product candidate, Lomecel-B, is showing promising initial results in treating diseases such as Alzheimer's, frailty related to aging, and hypoplastic left heart syndrome (HLHS). The ELPIS II trial for HLHS, which is evaluating Lomecel-B, has achieved over 80% enrollment and is expected to complete soon.
On the analyst front, H.C. Wainwright reiterated a Buy rating on Longeveron and increased the price target by 25%, reflecting confidence in the company's ongoing ELPIS II trial. The firm anticipates that if the trial results are positive, Longeveron could submit a Biological License Application (BLA) for Lomecel-B in the first half of 2026.
These are recent developments that highlight Longeveron's progress in its operations and trials. It's worth noting that the company's cash reserves are projected to cover expenses through Q4 2025.
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