08:09 AM EDT, 07/10/2024 (MT Newswires) -- Longeveron ( LGVN ) said Wednesday the US Food and Drug Administration granted Regenerative Medicine Advanced Therapy designation to Lomecel-B, the company's investigational cell therapy, for treating mild Alzheimer's Disease.

Lomecel-B is the first cellular therapeutic candidate to receive RMAT designation for Alzheimer's, Longeveron ( LGVN ) said.

The RMAT designation, granted to investigational cell therapies for life-threatening conditions, would expedite the approval process for the Lomecel-B.

Shares of the company were up 27% in recent Wednesday premarket activity.

Price: 3.6488, Change: +0.78, Percent Change: +27.14