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Dec 31, 2022
Lineage Q4 2022 Earnings Report
Reported financial and operating results for the fourth quarter and full year ended December 31, 2022.
Key Takeaways
Lineage Cell Therapeutics reported a net loss attributable to Lineage for the three months ended December 31, 2022 was $6.4 million, or $0.03 per share (basic and diluted). Total revenues for the three months ended December 31, 2022 were approximately $1.9 million.
Total revenues for Q4 2022 were $1.9 million, a net increase of $0.7 million compared to Q4 2021.
Operating expenses for Q4 2022 were $8.5 million, a decrease of $20.7 million compared to Q4 2021.
R&D expenses for Q4 2022 were $4.1 million, a decrease of $20.7 million compared to Q4 2021.
Net loss attributable to Lineage for Q4 2022 was $6.4 million, or $0.03 per share, compared to a net loss of $29.0 million, or $0.17 per share, for Q4 2021.
Lineage
Lineage
Forward Guidance
Lineage anticipates several events and milestones in 2023, including publications, regulatory submissions, clinical trial initiations, and potential new partnerships.
Positive Outlook
- Further progression of allogeneic cell therapy programs
- Responsible investments in the expansion of novel approach to cell transplant medicine
- Continued support of both newly established and existing collaborations
- Potential for Phase 2a clinical study of OpRegen to be informative
- Cash, cash equivalents and marketable securities expected to support planned operations into Q3 2024
Challenges Ahead
- Need to allocate cash to unexpected events and expenses causing us to use our cash more quickly than expected
- 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
- Competing alternative therapies may adversely impact the commercial potential of OpRegen
- 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
- Lineage may not be able to manufacture sufficient clinical quantities of its product candidates in accordance with current good manufacturing practice