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Longeveron Q3 revenue falls 16% on absence of contract manufacturing

By Reuters News


Overview

  • US biotech firm's Q3 revenue fell 16% yr/yr due to lower contract manufacturing revenue

  • Net loss for Q3 narrowed to $6.1 mln from $7.2 mln a year earlier

  • Company initiated review of strategic options and implemented cash conservation measures


Outlook

  • Company is reviewing strategic alternatives, including potential sale, merger, or business combination

  • Longeveron expects existing cash to fund operations into Q1 2027

  • Company has implemented cash conservation measures to optimize cost containment


Result Drivers

  • CONTRACT MANUFACTURING REVENUE DROP - Q3 revenue declined due to the absence of contract manufacturing revenue

  • CASH CONSERVATION MEASURES - Co implemented cost containment efforts as part of a strategic review process

  • XPRIZE AWARD - Other income increased due to a $1 mln Milestone 2 Award from the XPRIZE Healthspan competition


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

$115,000


Analyst Coverage

  • The one available analyst rating on the shares is "buy"

  • The average consensus recommendation for the biotechnology & medical research peer group is "buy"

  • Wall Street's median 12-month price target for Longeveron Inc is $42.13, about 1,176.5% above its November 11 closing price of $3.30


Reuters Recommended Reads

  • Nov 12 - Prime Medicine Q3 loss narrows as expenses decline

  • Nov 12 - Equillium posts narrower-than-expected Q3 net loss; expects cash runway to fund operations into 2029

  • Nov 10 - Liquidia Q3 loss widens on litigation charge, negating Yutrepia demand


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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