Lineage Q3 2020 Earnings Report
Key Takeaways
Lineage Cell Therapeutics reported third quarter 2020 financial results, with a net loss of $7.8 million, or $0.05 per share, and total revenues of $0.6 million, consistent with the same period in 2019. The company's cash, cash equivalents, and marketable securities totaled $38.0 million as of September 30, 2020, including $24.6 million from Juvenescence.
Lineage moved all three of its clinical programs forward during the third quarter.
The company reported new data on VAC2 and is advancing closer to the completion of patient enrollment in the OpRegen trial.
Lineage anticipates completing enrollment in the VAC2 Phase 1 study in non-small cell lung cancer by the end of the first quarter of 2021.
Lineage is financially well-positioned to continue driving clinical programs toward key milestones, particularly following the receipt of $24.6 million from Juvenescence.
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Forward Guidance
Lineage has the following plans and objectives for the remainder of 2020 and early 2021.