Longeveron's Lomecel-B shows promise for HLHS patients; Plug Power and Genius Sports report mixed Q1 earnings
- May 09th, 2023
- 400 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.
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