Cellular therapy developer Longeveron's Q3 net loss widens

Reuters11-05

Cellular therapy developer Longeveron's Q3 net loss widens

Overview

Net loss for Q3 widened to $7.2 mln, driven by increased R&D expenses
Company anticipates pivotal trial results for laromestrocel in 2026, potential BLA submission in 2027

Result Drivers

REVENUE DECLINE - Decrease in revenue driven by reduced demand for Bahamas Registry Trial and contract manufacturing services
R&D EXPENSES - Increase in R&D expenses due to higher personnel costs and technology transfer activities

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q3 EPS		-$0.39
Q3 Net Income		-$7.22 mln
Q3 Gross Profit		$125,000
Q3 Income from Operations		-$7.31 mln
Q3 Operating Expenses		$7.43 mln

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for Longeveron Inc is $7.00, about 88.1% above its November 3 closing price of $0.83

Press Release: ID:nGNX71nh4V

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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