Longeveron Shares Rise as Alzheimer Treatment Gets FDA Fast Track Designation

By Michael Susin

Longeveron shares rose Wednesday after its treatment for mild Alzheimer's Disease received a fast track designation from the U.S. Food and Drug Administration.

Shares at premarket trading were up 33% at $4.69.

The biotechnology company said the FDA has granted the designation to Lomecel-B, which is being evaluated for multiple conditions, including Alzheimer's Disease, aging-related frailty and hypoplastic left heart syndrome.

The fast track process is designed to facilitate the development and expedite the review of new therapies intended to treat serious or life-threatening conditions and that demonstrate the potential to address unmet medical needs.

On Oct. 5, Longeveron disclosed that a Phase 2a Alzheimer's trial for the treatment demonstrated an overall slowing of disease worsening compared to placebo, achieving the primary safety and secondary efficacy targets.

-- Don Nico Forbes contributed to this article.

Write to Michael Susin at [e-mail]

(END) Dow Jones Newswires

07-17-24 0840ET