Shares of Longeveron Inc. (LGVN) are surging about 87 percent on Tuesday morning trading following the announcement of a definitive agreement with certain institutional and accredited investors for a private placement of upto approximately $30 million.
The company's shares are currently trading at $0.9937 on the Nasdaq, up 87.67 percent. The stock opened at $0.6151 and has climbed as high as $1.17 so far in today's session. Over the past year, it has traded in a range of $0.4750 to $1.92.
The net proceeds from the initial tranche of the financing are expected to fund the company's current operating plans into the fourth quarter of 2026, past the anticipated pivotal Phase 2b ELPIS II clinical trial 3Q26 topline data readout.
For comments and feedback contact: editorial@rttnews.com
Business News
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.