Longeveron Inc. saw a significant boost in their shares, with a 16% increase in premarket trading on Thursday. The clinical-stage biotech company announced that its Alzheimer's treatment, known as Lomecel-B, has shown promising results in a recent trial.
Lomecel-B is an investigational treatment that is derived from specialized cells found in the bone marrow of healthy adult donors. According to a press release by the company, this treatment has not only met the primary safety endpoint but has also demonstrated a statistically significant improvement in a composite Alzheimer's disease score at specific doses.
It is estimated that approximately 6.7 million individuals aged 65 and older in the U.S. are currently living with Alzheimer's, as reported by the Alzheimer's Association. This highlights the urgent need for effective treatments for this neurodegenerative disease.
Longeveron's CEO, Wa'El Hashad, stated that these study results provide crucial validation for the safety and therapeutic potential of Lomecel-B in treating Alzheimer's disease. This achievement sets a strong foundation for future clinical trials not only for Alzheimer's but also for other conditions.
While Longeveron's shares have experienced a decline of 22% year-to-date, it is important to note that the S&P 500 has seen an 11% gain during the same period.
This breakthrough development brings hope for both patients and researchers working towards finding effective treatments for Alzheimer's disease.