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Earnings Call Summary | Lineage Cell Therapeutics(LCTX.US) Q1 2024 Earnings Conference

Futu News ·  May 10 20:59  · Conference Call

The following is a summary of the Lineage Cell Therapeutics, Inc. (LCTX) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • Lineage Cell Therapeutics reported Q1 2024 cash, cash equivalents and marketable securities of $43.6 million, expected to support operations until Q3 2025.

  • Total revenues for the quarter stood at roughly $1.4 million, down from $2.4 million in the same period in 2023, primarily as a result of lower collaboration and licensing revenue.

  • Total operating expenses were down to $8.1 million from $9 million in Q1 2023.

  • The net loss for the quarter was pegged at $6.5 million or $0.04 per share.

Business Progress:

  • Lineage announced additional positive data on OpRegen, a treatment for dry AMD, highlighting potential clinical benefit and durability.

  • A new services agreement with Genentech has been established to support the ongoing development of OpRegen.

  • Notable progress is underway with the company's cell transplant program for spinal cord injuries (OPC1), with plans for active enrollment within the year.

  • Collaboration efforts with Eterna to create a hypo-immune cell-line for future cell transplant programs are advancing steadily.

  • The second annual SCI Investor Symposium aims to expand awareness in the field of spinal cord injury.

  • The company is conducting a focused study on treatments for spinal cord injuries, especially targeting individuals with stagnant progress, with a chief goal of improving quality of life for these individuals.

More details: Lineage Cell Therapeutics IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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