CARLSBAD, Calif. - Lineage Cell Therapeutics (NYSE:LCTX), Inc. (NYSE American and TASE: LCTX), a biotechnology firm specializing in cell therapies, has shared an update on its progress and future plans, emphasizing its financial strategy, manufacturing capabilities, and long-term goals. The company’s stock has shown strong momentum with an 18.97% return over the past week, according to InvestingPro data. The company’s CEO, Brian Culley, conveyed optimism for the year ahead in a recent shareholder letter.
The company highlighted its unique approach to cell therapy, focusing on transplanting mature, differentiated cells to replace those lost due to disease or trauma. Lineage’s allogeneic cell therapy program, OpRegen®, for treating dry-age related macular degeneration (dry-AMD), is currently in a Phase 2a clinical trial in collaboration with Roche and Genentech.
Lineage has secured funding through diverse sources, including business development deals and non-core asset sales. In November, the company raised $24 million and anticipates an additional $6 million, contingent on stockholder approval. InvestingPro analysis reveals a healthy current ratio of 2.48 and a moderate debt-to-equity ratio of 0.04, indicating strong financial stability. This capital is expected to extend Lineage’s operational runway into the first quarter of 2027, with the potential to last until mid-2028, subject to certain conditions.
The company aims to demonstrate scalable manufacturing capabilities for its therapies, aspiring to be the first to produce thousands of doses from a stable cell bank. This achievement would mark a significant advancement in cell therapy manufacturing and potentially position Lineage as a leader in the field.
Looking forward, Lineage plans to support the development of OpRegen while also advancing other programs such as OPC1 for spinal cord injuries and ReSonance for hearing loss treatment. The CEO expressed confidence in the company’s technology platform and the potential for long-term value creation through the development of its clinical and preclinical pipelines.
The company’s forward-looking statements are based on current expectations and assumptions, which may change over time. While analysts project a sales decline for the current year, detailed financial forecasts and additional insights are available through InvestingPro’s comprehensive research reports. Lineage Cell Therapeutics remains committed to transparency and acting in the best interests of its shareholders.
This article is based on a press release statement from Lineage Cell Therapeutics, Inc.
In other recent news, Lineage Cell Therapeutics has witnessed several significant developments. H.C. Wainwright has retained its Buy rating on Lineage, raising the price target from $7.00 to $9.00 in anticipation of the Phase 2a data for OpRegen, a treatment under investigation for dry age-related macular degeneration. Boral (OTC:BOALY) Capital has also upgraded Lineage’s stock to a Buy rating, setting a price target at $3.00.
The company has secured a $30 million direct offering, with the potential for an additional $36 million upon the exercise of warrants. This includes the sale of approximately 39.5 million common shares and accompanying warrants to healthcare-focused institutional investors and Broadwood Partners, L.P.
In terms of financial performance, Lineage reported Q3 results with $32.7 million in cash, $3.8 million in revenue, and a reduced net loss to $3 million. The company is also making strides with the FDA regarding the OPC1 program for spinal cord injuries and expects IND amendment review completion for OPC1 in Q1 2025.
These developments indicate Lineage Cell Therapeutics’ continued progress in its clinical programs and its financial health.
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