Biotech Stock Longeveron Inc. (NASDAQ: LGVN) Makes Nasdaq Top Gainer List on News

2026-03-10 12:10:00 ET

Biotech Stock Longeveron Inc. (NASDAQ: LGVN) Makes Nasdaq Top Gainer List on News

Published on Mar 10, 2026

( Investorideas.com Newswire) a go-to platform for big investing ideas, including biotech stocks issues a news and trading alert for Longeveron Inc. (NASDAQ: LGVN), a clinical stage biotechnology company developing cellular therapy for life-threatening, rare pediatric and chronic aging-related conditions.

The stock makes the Nasdaq top percentage gainers list today, currently trading at $1.02, up $0.48, with a day’s high of $1.17 on a volume of over 141 million shares as of this report.

Longeveron announced that it has entered into a definitive agreement with certain institutional and accredited investors for up to approximately $30 million in gross proceeds through a private placement, priced at-the-market under Nasdaq rules. The net proceeds from the initial tranche of the financing are expected to fund the company's current operating plans into the fourth quarter of 2026, past the anticipated pivotal Phase 2b ELPIS II clinical trial 3Q26 topline data readout.

The private placement is led by Coastlands Capital, with participation from Janus Henderson Investors, along with Logos Capital and Kalehua Capital, for total gross proceeds in the initial closing of approximately $15 million.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the private placement.

At the initial closing, the Company will issue 6,013,384 shares of its Class A common stock at a purchase price of $0.52 per share and, in lieu of Class A common stock, shares of the Company’s Series A Non-Voting Convertible Preferred Stock (the “Preferred Shares”), convertible into an aggregate of 22,832,770 shares of Class A common stock, at a purchase price $1,000 for each Preferred Share. The Preferred Shares will have a conversion price of $0.52 per share and will be immediately convertible upon issuance. The Company will be eligible to receive up to an additional approximately $15 million in gross proceeds in exchange for shares of Class A common stock and preferred shares, subject to achieving certain milestone-driven conditions related to the results of the Company’s Phase 2b ELPIS II clinical trial in HLHS and share price.

Additionally, at the initial closing, the Company has agreed to sell to the investors an interest in 50% of proceeds received (after deducting necessary, documented third-party fees or charges) from the potential future sale of a Rare Pediatric Disease Priority Review Voucher, to the extent received from the U.S. FDA in connection with the company's laromestrocel program for HLHS.

The Company intends to use the net proceeds from the financing, together with its existing cash and cash equivalents, for funding for its ongoing clinical and regulatory development of laromestrocel, working capital, and other general corporate purposes. Based on current operating plans, the Company expects that its cash and cash equivalents, excluding the net proceeds from the closing of the second tranche, will fund operations into the fourth quarter of 2026.

The initial closing of the private placement is expected to occur on or about March 11, 2026, subject to satisfaction of customary closing conditions.

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