Longeveron's Lomecel-B shows promise for HLHS patients; Plug Power and Genius Sports report mixed Q1 earnings
- May 09th, 2023
- 517 views
Longeveron Inc. (Nasdaq: LGVN) released new long-term follow-up data from its ELPIS I trial, highlighting the potential survival benefit of Lomecel-B for patients with hypoplastic left heart syndrome (HLHS). HLHS is a rare and life-threatening congenital heart defect that affects approximately 1,000 babies per year, and currently, there are no FDA-approved treatments for this condition.
The study findings showed promising results, with Lomecel-B demonstrating a potential survival benefit for patients with HLHS. This could be a significant breakthrough in the medical field, as it provides a ray of hope for families of babies with HLHS. Following this news, the company's stock, $LGVN, soared by 32.28%, trading at $4.20.
On the other hand, Plug Power Inc. (Nasdaq: PLUG) reported a loss of $0.35 per share in the first quarter, missing the consensus estimate of a loss of $0.26 per share. As a result, the company's stock price dropped by 14.02%, trading at $7.99.
Similarly, Genius Sports Limited (NYSE: GENI) reported a loss of $0.12 per share in the first quarter, also missing the consensus estimate of a loss of $0.09 per share. However, the company's stock price increased by 19.45%, trading at $4.85. This suggests that despite the reported loss, investors may still have faith in the company's long-term growth prospects.
Overall, the stock market is constantly fluctuating, and investors need to keep themselves informed of the latest news and trends to make informed decisions about their investments.
THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY OR DIGITAL ASSET. Please consult with a professional investment advisor before purchasing or selling any securities viewed on or mentioned herein. (Read Full Disclaimer)
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