Longeveron Reports Decline in Revenue and Increased Net Losses for Q2 2025

Longeveron Inc. reported its financial results for the second quarter of 2025, revealing a decline in revenue and an increase in net losses compared to the same period in 2024. The company generated total revenues of $316,000 for the three months ended June 30, 2025, a decrease of 32% from $468,000 in the prior year. For the six-month period, revenues fell to $697,000 from $1.016 million, marking a 31% decline. The decrease was primarily attributed to reduced demand for contract manufacturing services and a decline in participation in the Bahamas Registry Trials, which provide laromestrocel, the company’s investigational product.

The company's net loss for the second quarter of 2025 was $5.0 million, compared to a loss of $3.4 million in the same quarter of 2024, reflecting a 47% increase in losses. For the first half of 2025, the net loss rose to $10.0 million from $7.5 million in the previous year. This increase in losses was driven by higher operating expenses, which totaled $10.999 million for the first half of 2025, up from $8.263 million in 2024. The rise in expenses was largely due to increased personnel costs and research and development expenditures as the company ramps up its efforts in preparation for a potential Biologics License Application (BLA) filing.

In terms of operational developments, Longeveron has made significant strides in its clinical programs. The company is currently conducting a Phase 2b trial (ELPIS II) for laromestrocel in patients with Hypoplastic Left Heart Syndrome (HLHS), which has reached full enrollment. The trial is expected to yield top-line results in the third quarter of 2026, with a potential BLA filing anticipated if the trial is successful. Additionally, the FDA has granted laromestrocel designations for Rare Pediatric Disease, Orphan Drug, and Fast Track for HLHS, indicating regulatory support for the product's development.

As of June 30, 2025, Longeveron reported cash and cash equivalents of $10.3 million, a decrease from $19.2 million at the end of 2024. The company expects its current cash reserves to fund operations into the first quarter of 2026, but it acknowledges the need for additional financing to support ongoing clinical trials and operational activities. The company is actively seeking partnerships and non-dilutive funding opportunities, particularly for its Alzheimer’s disease program, which has also received positive feedback from the FDA following a recent Type B meeting.

Looking ahead, Longeveron remains focused on advancing its clinical programs and preparing for potential regulatory submissions. The company plans to continue its efforts in securing additional funding to support its operational goals and is committed to efficient capital allocation strategies to enhance its development programs. However, the company has expressed uncertainty regarding its ability to secure future financing on favorable terms, which could impact its operational plans.