Longeveron (NASDAQ:LGVN) stock is taking off on Thursday after the drugmaker published news related to an Alzheimer’s treatment.
That includes the peer-reviewed results from its Phase 1 clinical trial of Lomecel-B. This study was to determine the safety of the treatment in patients suffering from mild Alzheimer’s disease. The trial met its primary endpoint.
To go along with that, Longeveron notes that there’s data to suggest there’s more reason to explore Lomecel-B’s potential to “slow cognitive decline and improve quality of life” in Alzheimer’s patients.
Dr. Mark Brody, lead author of the publication, said the following about the results sending LGVN stock higher.
“Not only did the study meet its primary endpoint of safety, but it also suggests the potential that Lomecel-B could have in treating patients with Alzheimer’s disease. We found data suggesting that Lomecel-B could have effects ranging from increasing blood vessel health to reducing inflammation, which could yield promising results.”
Longeveron notes that it’s already testing the findings from this clinical trial in a larger Phase 2 study. This trial started in December and has already started treating some patients while others are still enrolling.
LGVN stock is seeing heavy trading today thanks to its Alzheimer’s news. That has more than 64 million shares of the stock on the move as of this writing. This is a major jump from its daily average trading volume of about 953,000 shares.
LGVN stock is up 72.6% as of noon Thursday.
There’s more stock market news for hungry investors below!
We’re serving up the hottest stock news with our daily coverage of the market. Among that is Advanced Micro Devices (NASDAQ:AMD) stock dropping on a downgrade, AMC Entertainment (NYSE:AMC) on the move, as well as why Futu Holdings (NASDAQ:FUTU) stock is falling. You can get all of this news from the following links!
More Stock Market News for Thursday
- AMD Stock Downgrade: Why Barclay’s Thinks the Chip Company Is Headed Lower
- AMC Stock Gains Social Media Momentum on ‘Most Influential’ Company News
- Why Is Futu Holdings (FUTU) Stock Down Today?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: Penny Stocks — How to Profit Without Getting Scammed