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Mar 31, 2020
Lineage Q1 2020 Earnings Report
Reported financial and operating results for the first quarter ended March 31, 2020.
Key Takeaways
Lineage Cell Therapeutics reported first quarter 2020 financial results, including revenues of $0.5 million and a net loss of $8.4 million, or $0.06 per share. The company's cash, cash equivalents, and marketable securities totaled $25.8 million as of March 31, 2020.
Lineage adapted quickly to an unprecedented business environment, ensuring the safety of teams while maintaining the continuity of global operations.
The company advanced its programs with meaningful clinical data and contractual arrangements.
A clinical update presented at the ARVO meeting provided a comprehensive picture of treatment with OpRegen, showing enhancements to vision and quality of life metrics.
Lineage is exercising its option to regain control of the VAC platform for immuno-oncology and expand it to develop a vaccine for coronaviruses such as SARS-CoV-2.
Forward Guidance
Lineage anticipates incremental expenses during the remainder of the year related to the early exercise of their option with Cancer Research UK, plans for the development of a prophylactic vaccine against SARS-CoV-2 and other coronaviruses, and delays caused by COVID-19 to the OpRegen® clinical trial, which will modestly increase their net operational spend for 2020.
Historical Earnings Impact
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