Why Are Longeveron Shares Trading Higher Wednesday?
Portfolio Pulse from Vaishali Prayag
Longeveron Inc. (NASDAQ:LGVN) shares surged by 102% following a Zacks Small Cap Research note valuing the stock at $15.10 per share. The company is advancing its Lomecel-B treatment for Hypoplastic Left Heart Syndrome (HLHS) and has signed its first contract for its advanced manufacturing facility, expected to generate $4-5 million in annual revenue.
June 12, 2024 | 7:22 pm
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Longeveron Inc. shares surged by 102% after a Zacks Small Cap Research note valued the stock at $15.10 per share. The company is making significant progress with its Lomecel-B treatment for HLHS and has signed its first contract for its advanced manufacturing facility, expected to generate $4-5 million in annual revenue.
The significant price surge is directly linked to the positive valuation from Zacks and the company's advancements in its clinical trials and manufacturing capabilities. The expected revenue from the new facility further supports the positive outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100