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Longeveron Inc. shares
LGVN,
jumped 16% premarket on Thursday after the clinical-stage biotech company announced positive results from a trial of its Alzheimer’s treatment Lomecel-B.
The investigational treatment, made from specialized cells derived from the bone marrow of healthy adult donors, met the primary safety endpoint and produced a statistically significant improvement in a composite Alzheimer’s disease score at certain doses, the company said in a release.
About 6.7 million people in the U.S. age 65 and older are living with Alzheimer’s, according to the Alzheimer’s Association.
The study results “provide important validation of both the safety and therapeutic potential of Lomecel-B in the treatment of Alzheimer’s disease” and provide a foundation for other clinical trials in Alzheimer’s as well as other conditions, Longeveron CEO Wa’El Hashad said in a statement.
Longeveron shares have dropped 22% in the year to date, while the S&P 500
SPX
has gained 11%.
