Longeveron Q2 net loss widens on higher legal, clinical trial costs
Longeveron Q2 net loss widens on higher legal, clinical trial costs
Overview
US biotech firm's Q2 revenue fell 10% yr/yr, mainly due to lower contract manufacturing income
Net loss for Q2 widened 22% yr/yr, driven by higher legal and clinical trial costs
Gross profit for Q2 rose 25% yr/yr, despite declining revenue
Outlook
Topline results from Phase 2b ELPIS II trial in HLHS expected in September 2026
Company expects to begin planning Phase 2 PDCM trial in 2026, with initiation in 2027
Longeveron expects current cash to fund operations into Q4 2026; seeking additional financing
Result Drivers
CONTRACT MANUFACTURING DROP - Q2 revenue fell due to absence of contract manufacturing services
HIGHER LEGAL SPEND - Operating expenses rose due to increased legal costs
CLINICAL TRIAL COSTS - R&D expenses increased due to ELPIS II trial activity
Company press release: ID:nGNX2vHVpt
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Loss Per Share |
| $0.19 |
|
Q2 Net Loss |
| $6.07 mln |
|
Q2 Gross Profit |
| $182,000 |
|
Q2 Income from Operations |
| -$6.17 mln |
|
Q2 Operating Expenses |
| $6.35 mln |
|
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)