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CARLSBAD, Calif. - Lineage Cell Therapeutics, Inc. (NYSE: NYSE:LCTX) reported fourth quarter earnings that beat analyst expectations, sending shares up 6.8% in after-hours trading. The biotechnology company, which develops allogeneic cell therapies for neurological conditions, posted a narrower loss of $0.02 per share compared to a loss of $0.03 per share in the same quarter last year.
Revenue for the fourth quarter rose to $2.9 million, up from $2.1 million YoY, driven primarily by increased collaboration revenue from its partnership with Roche on the OpRegen program for geographic atrophy.
Investors reacted positively to Lineage’s announcement of encouraging 24-month visual acuity data for OpRegen in geographic atrophy patients. The company also highlighted that OpRegen received RMAT designation from the FDA, signaling the treatment’s potential to address unmet medical needs.
"Throughout 2024, we made substantial progress across multiple fronts, advancing our programs, expanding collaborations, and strengthening our balance sheet to support significant anticipated milestones," stated Brian M. Culley, Lineage’s CEO.
The company ended the year with $47.8 million in cash and marketable securities. Combined with $5.5 million raised in January, Lineage expects to fund operations into Q1 2027.
Lineage also reported progress on its OPC1 program for spinal cord injury, initiating a device delivery study in February 2025. Additionally, the company presented preclinical results for its ReSonance hearing loss therapy at a major scientific conference.
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