Lineage Q4 2023 Earnings Report
Key Takeaways
Lineage Cell Therapeutics reported Q4 2023 revenues of $2.1 million and a net loss of $4.8 million, or $0.03 per share. The company's cash, cash equivalents, and marketable securities totaled $35.5 million as of December 31, 2023, expected to support operations into Q3 2025.
Advanced OpRegen for Dry AMD in Phase 2a study in collaboration with Roche and Genentech.
Closed $14 Million Registered Direct Offering.
OPC1 Investigational New Drug Amendment Cleared; New Clinical Trial Planned.
Initiated Development of Hypoimmune iPSC Cell Line for Neurology Indications Under Gene Editing Collaboration with Eterna Therapeutics.
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Lineage Revenue by Segment
Forward Guidance
Lineage anticipates continued advancement of its clinical programs, supported by a strengthened balance sheet, with cash runway expected into Q3 2025.
Positive Outlook
- Continued execution under collaboration with Roche and Genentech for OpRegen.
- INDa clearance for OPC1, enabling initiation of DOSED clinical study.
- Positive ANP1 initial proof of concept results from collaboration with the University of Michigan.
- Initiated development activities for hypoimmune pluripotent cell line for neurology indications under collaboration with Eterna Therapeutics.
- Cash, cash equivalents, and marketable securities expected to support planned operations into Q3 2025.
Challenges Ahead
- Clinical trials may not commence, progress, or be completed as expected.
- Positive findings in early studies may not predict success in subsequent studies.
- OpRegen may not provide durable improvements in dry-AMD patients.
- Competing therapies may adversely impact the commercial potential of OpRegen.
- Roche and Genentech may not successfully advance OpRegen or obtain regulatory approval.