RTTNews | Mar 11, 2021 10:02AM EST

10:02 Thursday, March 11, 2021 (RTTNews.com) - Shares of Longeveron Inc. (LGVN) are rising more than 30% Thursday morning after the clinical-stage biotechnology company announced the expanded access approval by the FDA for the company's drug candidate Lomecel-B in a congenial heart condition.

The FDA has granted expanded access approval for for the administration of Longeveron's investigational cell therapy Lomecel-B to a child with Hypoplastic Left Heart Syndrome (HLHS).

Hypoplastic Left Heart Syndrome is a heart defect present at birth where left side of the heart is critically under developed.

FDA's Expanded Access program, also called "compassionate use," provides a pathway for patients to gain access to investigational drugs, biologics, and medical devices used to diagnose, monitor, or treat patients with serious diseases or conditions for which there are no comparable or satisfactory therapy options available outside of clinical trials.

LGVN, touched a new high of $12.48 today, before declining to trade at $9.61. currently.

Read the original article on RTTNews ( https://www.rttnews.com/3176810/stock-alert-longeveron-at-new-high-on-fda-s-expanded-access-approval-of-lomecel-b.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved