Longeveron up as heart disease therapy receives FDA's fast track tag

Longeveron

31/08/2022 13:54

** Drug developer Longeveron Inc's shares  LGVN.O  rise 4.5%
to $5.4 before the bell
    ** U.S. FDA has granted fast track designation to LGVN's
cell therapy for a rare heart disease  urn:newsml:reuters.com:*:nGNX3Svfjl
    ** The therapy, Lomecel-B, is currently in a mid-stage trial
for treating patients with Hypoplastic Left Heart Syndrome
    ** It is a condition where the left side of the heart does
not develop completely; it affects about 1,000 infants per year
in the United States
    ** Fast track designation is meant to speed-up the
development of drugs to treat serious conditions and make them
eligible for priority review with FDA
    ** Up to Tuesday's close, stock had lost 57% YTD  

 (Reporting by Khushi Mandowara)
 ((Khushi.Mandowara@thomsonreuters.com;))