Lineage Cell Therapeutics Reports First Quarter 2024 Financial Results and Provides Business Update

Lineage Cell Therapeutics Reports First Quarter 2024 Financial Results and Provides Business Update

 
  •   Established New Services Agreement with Genentech to Support Ongoing Development of the OpRegen ® Program  
  •  
  •   Long-Term Visual Benefits from a Single Administration with OpRegen Reported at 2024 Retinal Cell & Gene Therapy Innovation Summit  
  •  
  •   OpRegen Preclinical Results Presented at 2024 Association for Research in Vision and Ophthalmology Annual Meeting  
  •  
  •   OPC1 Clinical Study Start Up Preparation Underway  
  •  
  •   Received CIRM Grant to Support 2 nd Annual SCI Investor Symposium  
  •  
  •   Appointed Charlotte Hubbert, Ph.D., as Vice President of Corporate Development  
  •  

  Lineage Cell Therapeutics, Inc. (NYSE American and TASE: LCTX), a clinical-stage biotechnology company developing allogeneic cell therapies for unmet medical needs, today reported its first quarter 2024 financial and operating results and will host a conference call at 4:30 p.m. Eastern Time to discuss these results and to provide a business update.

 

"The quarter was highlighted by significant milestones and data updates on our lead program," stated Brian M. Culley, Lineage CEO. "A key area of attention for investors is our partnership with Roche and Genentech, and we are pleased to announce a new services agreement which reflects an additional commitment by Genentech for the benefit of the OpRegen program. We believe this agreement will enable our partners to take advantage of our cell transplant expertise to more fully investigate the promising potential of the OpRegen program and do so in a cost-effective manner. We also are planning to bring our second cell transplant program, OPC1, into the clinic this year for a condition with growing awareness of its unmet need and commercial opportunity. Lastly, we continue to build value through the advancement of our early-stage pipeline, which can help create value by capitalizing on the continued validation of our cell transplant approach."

 

  Recent Operational Highlights  

 
  •   RG6501 (OpRegen)  
    • Established new services agreement with Genentech, a member of the Roche Group, to support ongoing development of OpRegen. Under this new agreement, Lineage will provide additional clinical, technical, training and manufacturing services that further support the ongoing advancement and optimization of the OpRegen program. These additional services will be fully funded by Genentech and include: (i) activities to support the ongoing Phase 1/2a study and currently-enrolling Phase 2a study; and (ii) additional technical training and materials related to Lineage's cell therapy technology platform to support commercial manufacturing strategies.
    •  
    • Continued execution under our collaboration with Roche and Genentech across multiple functional areas, including support for the ongoing Phase 2a clinical study in patients with GA secondary to AMD.
    •  
    • Positive clinical data from long-term follow-up of patients from the Phase 1/2a clinical study of OpRegen presented by David Telander, MD, PhD, Retinal Consultants Medical Group, at the 2024 Retinal Cell & Gene Therapy Innovation Summit .
      • Mean BCVA gain of 5.5 letters at 24 months in Cohort 4 patients (less advanced geographic atrophy)
      •  
      • Mean BCVA gains greater among patients with improvement in outer retinal structure (+7.4 letters)
      •  
      • Maintenance or increases in external limiting membrane (ELM) and retinal pigment epithelium (RPE) layers at 24 months observed in patients with extensive coverage of OpRegen across the areas of GA
      •  
      • Data suggests OpRegen may counteract RPE cell dysfunction and cell loss secondary to geographic atrophy by providing support to remaining retinal cells, with multi-year effects observed following a single administration
      •  
    •  
    • Preclinical results from a surgical development study of OpRegen presented by Rachel N. Andrews, DVM, PhD, DACVP, Genentech, a member of the Roche Group, at 2024 Association for Research in Vision and Ophthalmology Annual Meeting (2024 ARVO) .
    •  
  •  
  •   OPC1  
  •  
  •   Corporate Updates  
    •   Appointed veteran industry executive Dr. Charlotte Hubbert as Vice President of Corporate Development. Dr. Hubbert previously served as Partner and Head of Gates Foundation Venture Capital, an initiative at the Bill and Melinda Gates Foundation Strategic Investment Fund, and most recently served in the leadership team at NanoString Technologies. She currently serves on the Board of Directors of the Beckman Research Institute at the City of Hope and is a Strategic Director at Madrona Venture Group.
    •  
  •  

  Balance Sheet Highlights  

 

Cash, cash equivalents, and marketable securities of $43.6 million as of March 31, 2024, is expected to support planned operations into Q3 2025.

 

  First Quarter Operating Results  

 

Revenues: Lineage's revenue is generated primarily from collaboration revenues and royalties. Total revenues for the three months ended March 31, 2024 were approximately $1.4 million, a net decrease of $1.0 million as compared to $2.4 million for the same period in 2023. The decrease was primarily driven by lower collaboration and licensing revenue recognized from deferred revenues under the collaboration and license agreement with Roche.

 

Operating Expenses: Operating expenses are primarily comprised of research and development ("R&D") expenses and general and administrative ("G&A") expenses. Total operating expenses for the three months ended March 31, 2024 were $8.1 million, a decrease of $0.9 million as compared to $9.0 million for the same period in 2023.

 

R&D Expenses: R&D expenses for the three months ended March 31, 2024 were $3.0 million, a net decrease of $1.2 million as compared to $4.2 million for the same period in 2023. The net decrease was primarily driven by $0.4 million for our OPC1 program, $0.3 million for our preclinical programs, and $0.2 million for our OpRegen program. Another $0.3 million of the decrease was attributable to other research and development expenses, primarily related to reduced manufacturing activities.

 

G&A Expenses: G&A expenses for the three months ended March 31, 2024 were $5.0 million, a net increase of $0.3 million as compared to approximately $4.7 million for the same period in 2023. The increase was primarily driven by $0.2 million in stock-based compensation expenses, and an overall increase in costs incurred for consulting services.

 

Loss from Operations: Loss from operations for the three months ended March 31, 2024 were $6.7 million, an increase of $0.1 million as compared to $6.6 million for the same period in 2023.

 

Other Income/(Expenses), Net: Other income (expenses), net for the three months ended March 31, 2024 was comprised of other income of $0.1 million, compared to other income of $0.4 million for the same period in 2023. The net decrease was primarily driven by the employee retention credit recognized in the prior year, partially offset by exchange rate fluctuations related to Lineage's international subsidiaries.

 

Net Loss Attributable to Lineage: The net loss attributable to Lineage for the three months ended March 31, 2024 was $6.5 million, or $0.04 per share (basic and diluted), compared to a net loss attributable to Lineage of $4.4 million, or $0.03 per share (basic and diluted), for the same period in 2023.

 

  Conference Call and Webcast  

 

Interested parties may access the conference call on May 9 th , 2024, by dialing (800) 715-9871 from the U.S. and Canada and should request the "Lineage Cell Therapeutics Call". A live webcast of the conference call will be available online in the Investors section of Lineage's website. A replay of the webcast will be available on Lineage's website for 30 days and a telephone replay will be available through May 15 th , 2024, by dialing (800) 770-2030 from the U.S. and Canada and entering conference ID number 1330332.

 

  About Lineage Cell Therapeutics, Inc.  

 

Lineage Cell Therapeutics is a clinical-stage biotechnology company developing novel or "off-the-shelf," cell therapies to address unmet medical needs. Lineage's programs are based on its proprietary cell-based technology platform and associated development and manufacturing capabilities. From this platform, Lineage designs, develops, manufactures, and tests specialized human cells with anatomical and physiological functions similar or identical to cells found naturally in the human body. These cells are created by applying directed differentiation protocols to established, well-characterized, and self-renewing pluripotent cell lines. These protocols generate cells with characteristics associated with specific and desired developmental lineages. Cells derived from such lineages are transplanted into patients in an effort to replace or support cells that are absent or dysfunctional due to degenerative disease, aging, or traumatic injury, and to restore or augment the patient's functional activity. Lineage's neuroscience focused pipeline currently includes: (i) OpRegen, a retinal pigment epithelial cell therapy in Phase 2a development under a worldwide collaboration with Roche and Genentech, a member of the Roche Group, for the treatment of geographic atrophy secondary to age-related macular degeneration; (ii) OPC1, an oligodendrocyte progenitor cell therapy in Phase 1/2a development for the treatment of spinal cord injuries; (iii) ANP1, an auditory neuronal progenitor cell therapy for the potential treatment of auditory neuropathy; (iv) PNC1, a photoreceptor neural cell therapy for the potential treatment of vision loss due to photoreceptor dysfunction or damage; and (v) RND1, a novel hypoimmune induced pluripotent stem cell line being developed in collaboration with Eterna Therapeutics Inc. For more information, please visit www.lineagecell.com or follow the company on X/Twitter @LineageCell .

 

  Forward-Looking Statements  

 

Lineage cautions you that all statements, other than statements of historical facts, contained in this press release, are forward-looking statements. Forward-looking statements, in some cases, can be identified by terms such as "believe," "aim," "may," "will," "estimate," "continue," "anticipate," "design," "intend," "expect," "could," "can," "plan," "potential," "predict," "seek," "should," "would," "contemplate," "project," "target," "tend to," or the negative version of these words and similar expressions. Lineage's forward-looking statements are based upon its current expectations and beliefs and involve assumptions that may never materialize or may prove to be incorrect. Such statements include, but are not limited to, statements relating to: the benefits of our new services agreement Genentech and its impact on advancing the OpRegen program; the commencement of the DOSED clinical study for OPC1; that our cash, cash equivalents and marketable securities is sufficient to support our planned operations into the third quarter of 2025; and the potential of our early-stage pipeline to create value. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Lineage's actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by the forward-looking statements in this press release, including, but not limited to, the following risks: that we may need to allocate our cash to unexpected events and expenses causing us to use our cash, cash equivalents and marketable securities more quickly than expected; that clinical trials of our product candidates may not commence, progress or be completed as expected due to many factors within and outside of our control; that positive findings in early clinical and/or nonclinical studies of a product candidate may not be predictive of success in subsequent clinical and/or nonclinical studies of that candidate; that OpRegen may never be proven to provide durable anatomical functional improvements in dry-AMD patients, that competing alternative therapies may adversely impact the commercial potential of OpRegen; that Roche and Genentech may not successfully advance OpRegen or be successful in completing further clinical trials for OpRegen and/or obtaining regulatory approval for OpRegen in any particular jurisdiction; that the ongoing Israel-Hamas war may materially and adversely impact our manufacturing processes, including cell banking and product manufacturing for our cell therapy product candidates, all of which are conducted by our subsidiary in Jerusalem, Israel; that Lineage may not be able to manufacture sufficient clinical quantities of its product candidates in accordance with current good manufacturing practice; and those risks and uncertainties inherent in Lineage's business and other risks discussed in Lineage's filings with the Securities and Exchange Commission (SEC). Further information regarding these and other risks is included under the heading "Risk Factors" in Lineage's periodic reports with the SEC, including Lineage's most recent Annual Report on Form 10-K filed with the SEC and its other reports, which are available from the SEC's website. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they were made. Lineage undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law. All forward-looking statements are expressly qualified in their entirety by these cautionary statements.

 
                                                                                                                                                                                                                                                                                                                                                                                  
 

  Lineage Cell Therapeutics, Inc. AND SUBSIDIARIES  

 

  CONDENSED CONSOLIDATED BALANCE SHEETS  

 

  (IN THOUSANDS)  

 
       
 

 

 
 

 

 
 

  March 31, 2024  

 
 

 

 
 

  December 31, 2023  

 
 

 

 
 

 

 
 

  (Unaudited)  

 
 

 

 
 

 

 
 

  ASSETS  

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

CURRENT ASSETS

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Cash and cash equivalents

 
 

 

 
 

$

 
 

43,576

 
 

 

 
 

 

 
 

$

 
 

35,442

 
 

 

 
 

Marketable securities

 
 

 

 
 

 

 
 

45

 
 

 

 
 

 

 
 

 

 
 

50

 
 

 

 
 

Accounts receivable, net

 
 

 

 
 

 

 
 

77

 
 

 

 
 

 

 
 

 

 
 

745

 
 

 

 
 

Prepaid expenses and other current assets

 
 

 

 
 

 

 
 

2,018

 
 

 

 
 

 

 
 

 

 
 

2,204

 
 

 

 
 

Total current assets

 
 

 

 
 

 

 
 

45,716

 
 

 

 
 

 

 
 

 

 
 

38,441

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

NONCURRENT ASSETS

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Property and equipment, net

 
 

 

 
 

 

 
 

2,104

 
 

 

 
 

 

 
 

 

 
 

2,245

 
 

 

 
 

Operating lease right-of-use assets

 
 

 

 
 

 

 
 

2,855

 
 

 

 
 

 

 
 

 

 
 

2,522

 
 

 

 
 

Deposits and other long-term assets

 
 

 

 
 

 

 
 

596

 
 

 

 
 

 

 
 

 

 
 

577

 
 

 

 
 

Goodwill

 
 

 

 
 

 

 
 

10,672

 
 

 

 
 

 

 
 

 

 
 

10,672

 
 

 

 
 

Intangible assets, net

 
 

 

 
 

 

 
 

46,540

 
 

 

 
 

 

 
 

 

 
 

46,562

 
 

 

 
 

  TOTAL ASSETS  

 
 

 

 
 

$

 
 

108,483

 
 

 

 
 

 

 
 

$

 
 

101,019

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

  LIABILITIES AND SHAREHOLDERS' EQUITY  

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

CURRENT LIABILITIES

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Accounts payable and accrued liabilities

 
 

 

 
 

$

 
 

5,683

 
 

 

 
 

 

 
 

$

 
 

6,270

 
 

 

 
 

Operating lease liabilities, current portion

 
 

 

 
 

 

 
 

1,052

 
 

 

 
 

 

 
 

 

 
 

830

 
 

 

 
 

Finance lease liabilities, current portion

 
 

 

 
 

 

 
 

49

 
 

 

 
 

 

 
 

 

 
 

52

 
 

 

 
 

Deferred revenues, current portion

 
 

 

 
 

 

 
 

10,106

 
 

 

 
 

 

 
 

 

 
 

10,808

 
 

 

 
 

Total current liabilities

 
 

 

 
 

 

 
 

16,890

 
 

 

 
 

 

 
 

 

 
 

17,960

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

LONG-TERM LIABILITIES

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Deferred tax liability

 
 

 

 
 

 

 
 

273

 
 

 

 
 

 

 
 

 

 
 

273

 
 

 

 
 

Deferred revenues, net of current portion

 
 

 

 
 

 

 
 

18,177

 
 

 

 
 

 

 
 

 

 
 

18,693

 
 

 

 
 

Operating lease liabilities, net of current portion

 
 

 

 
 

 

 
 

2,074

 
 

 

 
 

 

 
 

 

 
 

1,979

 
 

 

 
 

Finance lease liabilities, net of current portion

 
 

 

 
 

 

 
 

79

 
 

 

 
 

 

 
 

 

 
 

91

 
 

 

 
 

TOTAL LIABILITIES

 
 

 

 
 

 

 
 

37,493

 
 

 

 
 

 

 
 

 

 
 

38,996

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Commitments and contingencies (Note 13)

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

SHAREHOLDERS' EQUITY

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Preferred shares, no par value, 2,000 shares authorized; none issued and outstanding as of March 31, 2024 and December 31, 2023

 
 

 

 
 

 

 
 

 
 

 

 
 

 

 
 

 

 
 

 
 

 

 
 

Common shares, no par value, 450,000 shares authorized as of March 31, 2024 and December 31, 2023; 188,754 and 174,987 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively

 
 

 

 
 

 

 
 

466,571

 
 

 

 
 

 

 
 

 

 
 

451,343

 
 

 

 
 

Accumulated other comprehensive loss

 
 

 

 
 

 

 
 

(2,771

 
 

)

 
 

 

 
 

 

 
 

(3,068

 
 

)

 
 

Accumulated deficit

 
 

 

 
 

 

 
 

(391,398

 
 

)

 
 

 

 
 

 

 
 

(384,856

 
 

)

 
 

Lineage's shareholders' equity

 
 

 

 
 

 

 
 

72,402

 
 

 

 
 

 

 
 

 

 
 

63,419

 
 

 

 
 

Noncontrolling deficit

 
 

 

 
 

 

 
 

(1,412

 
 

)

 
 

 

 
 

 

 
 

(1,396

 
 

)

 
 

Total shareholders' equity

 
 

 

 
 

 

 
 

70,990

 
 

 

 
 

 

 
 

 

 
 

62,023

 
 

 

 
 

  TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY  

 
 

 

 
 

$

 
 

108,483

 
 

 

 
 

 

 
 

$

 
 

101,019

 
 

 

 
 
                                                                                                                                                                                                                                                               
   
 

  Lineage Cell Therapeutics, Inc. AND SUBSIDIARIES  

 

  CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS  

 

  (IN THOUSANDS, EXCEPT PER SHARE DATA)  

 

  (UNAUDITED)  

 
   
 

 

 
 

 

 
 

  Three Months Ended March 31,  

 
 

 

 
 

 

 
 

  2024  

 
 

 

 
 

  2023  

 
 

  REVENUES:  

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Collaboration revenues

 
 

 

 
 

$

 
 

1,187

 
 

 

 
 

 

 
 

$

 
 

2,121

 
 

 

 
 

Royalties, license and other revenues

 
 

 

 
 

 

 
 

257

 
 

 

 
 

 

 
 

 

 
 

265

 
 

 

 
 

Total revenues

 
 

 

 
 

 

 
 

1,444

 
 

 

 
 

 

 
 

 

 
 

2,386

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

  OPERATING EXPENSES:  

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Cost of sales

 
 

 

 
 

 

 
 

98

 
 

 

 
 

 

 
 

 

 
 

119

 
 

 

 
 

Research and development

 
 

 

 
 

 

 
 

3,010

 
 

 

 
 

 

 
 

 

 
 

4,185

 
 

 

 
 

General and administrative

 
 

 

 
 

 

 
 

4,997

 
 

 

 
 

 

 
 

 

 
 

4,724

 
 

 

 
 

Total operating expenses

 
 

 

 
 

 

 
 

8,105

 
 

 

 
 

 

 
 

 

 
 

9,028

 
 

 

 
 

Loss from operations

 
 

 

 
 

 

 
 

(6,661

 
 

)

 
 

 

 
 

 

 
 

(6,642

 
 

)

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

  OTHER INCOME (EXPENSES):  

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Interest income, net

 
 

 

 
 

 

 
 

462

 
 

 

 
 

 

 
 

 

 
 

410

 
 

 

 
 

(Loss) gain on marketable equity securities, net

 
 

 

 
 

 

 
 

(5

 
 

)

 
 

 

 
 

 

 
 

40

 
 

 

 
 

Foreign currency transaction gain/(loss), net

 
 

 

 
 

 

 
 

(354

 
 

)

 
 

 

 
 

 

 
 

(472

 
 

)

 
 

Other income

 
 

 

 
 

 

 
 

 
 

 

 
 

 

 
 

 

 
 

457

 
 

 

 
 

Total other income (expenses), net

 
 

 

 
 

 

 
 

103

 
 

 

 
 

 

 
 

 

 
 

435

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

  LOSS BEFORE INCOME TAXES  

 
 

 

 
 

 

 
 

(6,558

 
 

)

 
 

 

 
 

 

 
 

(6,207

 
 

)

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Provision for income tax benefit

 
 

 

 
 

 

 
 

 
 

 

 
 

 

 
 

 

 
 

1,803

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

  NET LOSS  

 
 

 

 
 

 

 
 

(6,558

 
 

)

 
 

 

 
 

 

 
 

(4,404

 
 

)

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Net loss attributable to noncontrolling interest

 
 

 

 
 

 

 
 

16

 
 

 

 
 

 

 
 

 

 
 

32

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

  NET LOSS ATTRIBUTABLE TO LINEAGE  

 
 

 

 
 

$

 
 

(6,542

 
 

)

 
 

 

 
 

$

 
 

(4,372

 
 

)

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Net loss per common share attributable to Lineage
basic and diluted

 
 

 

 
 

$

 
 

(0.04

 
 

)

 
 

 

 
 

$

 
 

(0.03

 
 

)

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Weighted-average common shares used to compute basic and
diluted net loss per common share

 
 

 

 
 

 

 
 

182,909

 
 

 

 
 

 

 
 

 

 
 

170,127

 
 

 

 
 
                                                                                                                                                                                                                                                                                                                                                        
  Lineage Cell Therapeutics, Inc. AND SUBSIDIARIES  

  CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS  

 

  (IN THOUSANDS)  

 

  (UNAUDITED)  

 
    
 

 

 
 

 

 
 

  Three Months Ended March 31,  

 
 

 

 
 

 

 
 

  2024  

 
 

 

 
 

  2023  

 
 

  CASH FLOWS FROM OPERATING ACTIVITIES:  

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Net loss attributable to Lineage

 
 

 

 
 

$

 
 

(6,542

 
 

)

 
 

 

 
 

$

 
 

(4,372

 
 

)

 
 

Net loss attributable to noncontrolling interest

 
 

 

 
 

 

 
 

(16

 
 

)

 
 

 

 
 

 

 
 

(32

 
 

)

 
 

Adjustments to reconcile net loss attributable to Lineage Cell Therapeutics, Inc.
to net cash used in operating activities:

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Loss (gain) on marketable equity securities, net

 
 

 

 
 

 

 
 

5

 
 

 

 
 

 

 
 

 

 
 

(40

 
 

)

 
 

Accretion of income on marketable debt securities

 
 

 

 
 

 

 
 

 
 

 

 
 

 

 
 

 

 
 

(326

 
 

)

 
 

Depreciation and amortization expense

 
 

 

 
 

 

 
 

153

 
 

 

 
 

 

 
 

 

 
 

138

 
 

 

 
 

Change in right-of-use assets and liabilities

 
 

 

 
 

 

 
 

(10)

 
 

 

 
 

 

 
 

 

 
 

 
 

 

 
 

Amortization of intangible assets

 
 

 

 
 

 

 
 

22

 
 

 

 
 

 

 
 

 

 
 

33

 
 

 

 
 

Stock-based compensation

 
 

 

 
 

 

 
 

1,163

 
 

 

 
 

 

 
 

 

 
 

1,031

 
 

 

 
 

Deferred income tax benefit

 
 

 

 
 

 

 
 

 
 

 

 
 

 

 
 

 

 
 

(1,803

 
 

)

 
 

Foreign currency remeasurement and other loss

 
 

 

 
 

 

 
 

371

 
 

 

 
 

 

 
 

 

 
 

465

 
 

 

 
 

Changes in operating assets and liabilities:

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Accounts receivable

 
 

 

 
 

 

 
 

668

 
 

 

 
 

 

 
 

 

 
 

95

 
 

 

 
 

Prepaid expenses and other current assets

 
 

 

 
 

 

 
 

195

 
 

 

 
 

 

 
 

 

 
 

(847

 
 

)

 
 

Accounts payable and accrued liabilities

 
 

 

 
 

 

 
 

(574

 
 

)

 
 

 

 
 

 

 
 

(3,463

 
 

)

 
 

Deferred revenue

 
 

 

 
 

 

 
 

(1,218

 
 

)

 
 

 

 
 

 

 
 

(2,121

 
 

)

 
 

Net cash used in operating activities

 
 

 

 
 

 

 
 

(5,783

 
 

)

 
 

 

 
 

 

 
 

(11,242

 
 

)

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

  CASH FLOWS FROM INVESTING ACTIVITIES:  

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Purchases of marketable debt securities

 
 

 

 
 

 

 
 

 
 

 

 
 

 

 
 

 

 
 

(7,718

 
 

)

 
 

Maturities of marketable debt securities

 
 

 

 
 

 

 
 

 
 

 

 
 

 

 
 

 

 
 

23,332

 
 

 

 
 

Purchase of equipment

 
 

 

 
 

 

 
 

(38

 
 

)

 
 

 

 
 

 

 
 

(188

 
 

)

 
 

Net cash (used in) provided by investing activities

 
 

 

 
 

 

 
 

(38

 
 

)

 
 

 

 
 

 

 
 

15,426

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

  CASH FLOWS FROM FINANCING ACTIVITIES:  

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Proceeds from employee options exercised

 
 

 

 
 

 

 
 

132

 
 

 

 
 

 

 
 

 

 
 

51

 
 

 

 
 

Common shares received and retired for employee taxes paid

 
 

 

 
 

 

 
 

(23

 
 

)

 
 

 

 
 

 

 
 

(37

 
 

)

 
 

Proceeds from sale of common shares

 
 

 

 
 

 

 
 

14,037

 
 

 

 
 

 

 
 

 

 
 

 
 

 

 
 

Payments for offering costs

 
 

 

 
 

 

 
 

(112

 
 

)

 
 

 

 
 

 

 
 

 
 

 

 
 

Repayment of finance lease liabilities

 
 

 

 
 

 

 
 

(13

 
 

)

 
 

 

 
 

 

 
 

(13

 
 

)

 
 

Net cash provided by financing activities

 
 

 

 
 

 

 
 

14,021

 
 

 

 
 

 

 
 

 

 
 

1

 
 

 

 
 

Effect of exchange rate changes on cash, cash equivalents and restricted cash

 
 

 

 
 

 

 
 

(70

 
 

)

 
 

 

 
 

 

 
 

(100

 
 

)

 
 

  NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH  

 
 

 

 
 

 

 
 

8,130

 
 

 

 
 

 

 
 

 

 
 

4,085

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

CASH, CASH EQUIVALENTS AND RESTRICTED CASH:

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

At beginning of the period

 
 

 

 
 

 

 
 

35,992

 
 

 

 
 

 

 
 

 

 
 

11,936

 
 

 

 
 

At end of the period

 
 

 

 
 

$

 
 

44,122

 
 

 

 
 

 

 
 

$

 
 

16,021

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 

  

  

  Lineage Cell Therapeutics, Inc. IR  
Ioana C. Hone
( ir@lineagecell.com )
(442) 287-8963

 

  LifeSci Advisors  
Daniel Ferry
( daniel@lifesciadvisors.com )
(617) 430-7576

 

  Russo Partners – Media Relations  
Nic Johnson or David Schull
( Nic.johnson@russopartnersllc.com )
( David.schull@russopartnersllc.com )
(212) 845-4242

 

News Provided by Business Wire via QuoteMedia

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Lineage to Present at 2024 BIO International Convention

Lineage to Present at 2024 BIO International Convention

 

  Lineage Cell Therapeutics, Inc. (NYSE American and TASE: LCTX), a clinical-stage biotechnology company developing allogeneic cell therapies for unmet medical needs, today announced that the Company's CEO, Brian M. Culley, will present at the 2024 BIO International Convention , on Tuesday June 4 th , 2024, at 2:30pm in Theater 3. Company representatives are also hosting meetings with potential partners and collaborators to discuss opportunities for strategic alliances across Lineage's novel pipeline of cell therapy transplant programs. The BIO International Convention is the world's largest gathering of the biotechnology industry, along with industry-leading investor and partnering meetings held around the world, and is taking place June 3-6, 2024, at the San Diego Convention Center in San Diego, CA.

 

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Lineage Announces Updates to 2nd Annual Spinal Cord Injury Investor Symposium

Lineage Announces Updates to 2nd Annual Spinal Cord Injury Investor Symposium

 
  •   Persons with Lived Experience Session Expanded to Include Michaela & Kyle Devins  
  •  
  •   Clinical Session Expanded to Include Neuralink  
  •  
  •   Preclinical Session Expanded to Include Axonis, Novoron, Sania & Rewire Medical  
  •  

 

 

  Lineage Cell Therapeutics, Inc. (NYSE American and TASE: LCTX), a clinical-stage biotechnology company developing allogeneic cell therapies for unmet medical needs, today announced updates to its 2 nd Annual Spinal Cord Injury Investor Symposium ("2 nd SCIIS"). The 2 nd SCIIS aims to accelerate development in SCI research and treatments by bringing together companies working in the development of treatments for SCI, with regulators, key opinion leaders, persons with lived experience, patient and community advocacy organizations, and the investment community, in order to discuss perspectives on current and future treatment alternatives, impact and support SCI disease awareness and clinical trial participation through the implementation of patient appropriate clinical endpoints, and broaden awareness of and investment of capital into SCI.

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OpRegen®  Phase 1/2a Clinical Study 24-Month Visual Acuity Results Featured at 2024 Retinal Cell & Gene Therapy Innovation Summit

OpRegen® Phase 1/2a Clinical Study 24-Month Visual Acuity Results Featured at 2024 Retinal Cell & Gene Therapy Innovation Summit

 
  •   BCVA gains of +5.5 letters at 24 months in Cohort 4 patients (n=10)  
  •  
  •   BCVA gains of +7.4 letters among Cohort 4 patients with extensive OpRegen bleb coverage of the GA lesion (n=5)  
  •  
  •   Maintenance or increases in external limiting membrane (ELM) and retinal pigment epithelium (RPE) layers observed by optical coherence tomography (OCT) in patients with extensive bleb coverage of the GA lesion  
  •  
  •   Data suggests OpRegen may counteract RPE cell dysfunction and cell loss in GA by providing support to remaining retinal cells, with effects observed through at least 2 years following a single administration  
  •  

  Lineage Cell Therapeutics, Inc. (NYSE American and TASE: LCTX), a clinical-stage biotechnology company developing allogeneic cell therapies for unmet medical needs, today announced that 24 month visual acuity results from patients enrolled in a Phase 1/2a clinical study (ClinicalTrials.gov Identifier: NCT02286089 ) of RG6501 ( OpRegen ) in patients with geographic atrophy (GA) secondary to age-related macular degeneration (AMD), were presented at the 2024 Retinal Cell & Gene Therapy Innovation Summit . The meeting was jointly organized by the Foundation Fighting Blindness and the Oregon Health & Science University Casey Eye Institute . The presentation, "OpRegen ® Retinal Pigment Epithelium (RPE) Cell Therapy for Patients with Geographic Atrophy (GA): Month 24 Results from the Phase 1/2a Trial," was presented by David Telander, MD, PhD , Retinal Consultants Medical Group, on behalf of Roche and Genentech , a member of the Roche Group.

 

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Lineage Cell Therapeutics to Report First Quarter 2024 Financial Results and Provide Business Update on May 9, 2024

Lineage Cell Therapeutics to Report First Quarter 2024 Financial Results and Provide Business Update on May 9, 2024

 

  Lineage Cell Therapeutics, Inc. (NYSE American and TASE: LCTX), a clinical-stage biotechnology company developing allogeneic cell therapies for unmet medical needs, today announced that it will report its first quarter 2024 financial and operating results on Thursday, May 9, 2024, following the close of the U.S. financial markets. Lineage management will also host a conference call and webcast on Thursday, May 9, 2024, at 4:30 p.m. Eastern Time/1:30 p.m. Pacific Time to discuss its first quarter 2024 financial and operating results and to provide a business update.

 

Interested parties may access the conference call on May 9 th , 2024, by dialing (800) 715-9871 from the U.S. and Canada and should request the "Lineage Cell Therapeutics Call". A live webcast of the conference call will be available online in the Investors section of Lineage's website. A replay of the webcast will be available on Lineage's website for 30 days and a telephone replay will be available through May 15 th , 2024, by dialing (800) 770-2030 from the U.S. and Canada and entering conference ID number 1330332.

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Lineage Cell Therapeutics to Report First Quarter 2024 Financial Results and Provide Business Update on May 9, 2024

Lineage Cell Therapeutics to Report First Quarter 2024 Financial Results and Provide Business Update on May 9, 2024

 

  Lineage Cell Therapeutics, Inc. (NYSE American and TASE: LCTX), a clinical-stage biotechnology company developing allogeneic cell therapies for unmet medical needs, today announced that it will report its first quarter 2024 financial and operating results on Thursday, May 9, 2024, following the close of the U.S. financial markets. Lineage management will also host a conference call and webcast on Thursday, May 9, 2024, at 4:30 p.m. Eastern Time/1:30 p.m. Pacific Time to discuss its first quarter 2024 financial and operating results and to provide a business update.

 

Interested parties may access the conference call on May 9 th , 2024, by dialing (800) 715-9871 from the U.S. and Canada and should request the "Lineage Cell Therapeutics Call". A live webcast of the conference call will be available online in the Investors section of Lineage's website. A replay of the webcast will be available on Lineage's website for 30 days and a telephone replay will be available through May 15 th , 2024, by dialing (800) 770-2030 from the U.S. and Canada and entering conference ID number 1330332.

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Angkor Resources Meets Ministry To Expand Boundary Of Oil & Gas Block VIII, Cambodia

Angkor Resources Meets Ministry To Expand Boundary Of Oil & Gas Block VIII, Cambodia

 

(TheNewswire)

 
      
  Angkor Resources Corp. 
             
 

GRANDE PRAIRIE, ALBERTA TheNewswire - July 29, 2025 - Angkor Resources Corp. (TSXV: ANK,OTC:ANKOF) ("ANGKOR" OR "THE COMPANY") announces its subsidiary, EnerCam Resources Co. Ltd. (Cambodia) ("EnerCam") met with officials from the Ministry of Mines and Energy ("MME") and the General Department of Petroleum ("GDP") to request an additional 220 square kilometers as part of Block VIII to include a potential sub-basin for exploration of oil and gas.

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Vertex Minerals Limited  Capital Raising Update

Vertex Minerals Limited Capital Raising Update

Perth, Australia (ABN Newswire) - Vertex Minerals Limited (ASX:VTX,OTC:VTXXF) (OTCMKTS:VTXXF) confirms that on 28 July 2025 it received A$3.9 million (before costs) through the issuance of new ordinary Shares as part of the A$11 million capital raising ("Capital Raising") announced by the Company on 12 May 2025 and approved at the General Meeting which took place on 21 July 2025.

The Capital Raising had also included the earlier issuance of A$3.5 million in Convertible Loans, bringing total proceeds received to date from the financing initiative to approximately A$7.5 million.

With respect to the A$3.9 million secured on 28 July 2025, 18,377,562 fully paid ordinary shares were issued by the Company ("Shares") at A$0.21 per Share.

At the commencement of the Capital Raising, associates of the Company's cornerstone investor and largest shareholder with 17% of the shares on issue (Gleneden Nominees Pty Ltd) committed to subscribe for A$3.6 million of Shares. Timing for receipt of these funds has now been revised to on or before 15 September 2025, as is provided for in an agreement entered on 27 July 2025 between the Company and Gleneden Nominees Pty Ltd.

The Company has also retained its ability to place the remaining A$3.6 million to other interested investors (on the same terms as the Capital Raising).

Receipt of the A$3.9 million, along with the $3.5 million Convertible Loan component of the Capital Raising, has provided the Company with financial liquidity for the near-term restart of the high-grade Hill End Gold Project, at a time of an historically strong A$ gold price.

 

About Vertex Minerals Limited:  

Vertex Minerals Limited (ASX:VTX,OTC:VTXXF) is an Australian based gold exploration company developing its advanced Hargraves and Hill End gold projects located in the highly prospective Eastern Lachlan Fold Belt of Central West NSW. Other Company assets include the Pride of Elvire gold project and Taylors Rock gold/nickel/lithium project both located in the Eastern Goldfields of WA. The focus of Vertex Minerals is to advance the commercial production of gold from its NSW projects embracing an ethical and environmentally sustainable approach.

 

 

Source:
Vertex Minerals Limited

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Scoping Study Highlights Potential of Tennant Creek Project

Scoping Study Highlights Potential of Tennant Creek Project

CuFe Limited (CUF:AU) has announced Scoping Study Highlights Potential of Tennant Creek Project

Download the PDF here.

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