LGVN · Longeveron Inc.

Longeveron reported its first quarter 2026 financial results, highlighting a net loss of $4.7 million, a slight improvement from the $5.0 million loss in the same period last year. Revenue remained flat at $0.4 million, driven by increased clinical trial revenue from the Bahamas Registry Trial offset by lower contract manufacturing revenue. Gross profit was unchanged at $0.3 million. Operating expenses decreased: G&A fell 7% to $2.7 million due to lower personnel costs, while R&D dropped 8% to $2.3 million, reflecting lower bonus accruals and a non-recurring patent amortization charge, partially offset by higher clinical spend ahead of the ELPIS II trial readout. Other income declined to $39,000 from $0.2 million due to lower cash balances. Cash and equivalents stood at $15.8 million as of March 31, 2026, expected to fund operations into Q4 2026. The company completed a $15 million initial closing of a $30 million private placement led by Coastlands Capital. Management highlighted the upcoming August 2026 top-line results from the Phase 2b ELPIS II trial in hypoplastic left heart syndrome (HLHS) as a key catalyst. The company is pursuing a partnering strategy across its four indications (HLHS, Alzheimer's disease, pediatric dilated cardiomyopathy, aging-related frailty) to accelerate development and reduce capital needs. CEO Stephen Willard, appointed in February 2026, emphasized a shift to a capital-efficient, asset-light model. The company also noted a Type C meeting with the FDA in March 2026 regarding the ELPIS II trial and a positive Type B meeting for Alzheimer's disease in March 2025. The resignation of board member Richard Kender in March 2026 was disclosed.