Longeveron Q3 revenue falls 16% on absence of contract manufacturing
LGVN•Longeveron’s third-quarter revenue fell 16% year over year to $115,000 as contract manufacturing revenue was absent, while its net loss narrowed to $6.1 million from $7.2 million. The company is reviewing strategic alternatives, including a potential sale or merger, and expects its cash to fund operations into Q1 2027.
1. Quarterly results
Longeveron reported third-quarter revenue of $115,000, down 16% year over year due to the absence of contract manufacturing revenue. Its net loss narrowed to $6.1 million from $7.2 million a year earlier.
2. Strategic review and cash
The company is reviewing strategic alternatives, including a potential sale, merger or business combination, and has implemented cash conservation measures. It expects existing cash to fund operations into Q1 2027. Other income increased due to a $1 million Milestone 2 Award from the XPRIZE Healthspan competition.
