Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) Releases Earnings Results

Lineage Cell Therapeutics (NYSEAMERICAN:LCTX) posted its quarterly earnings results on Thursday. The company reported ($0.03) earnings per share for the quarter, hitting the consensus estimate of ($0.03), FiscalAI reports. Lineage Cell Therapeutics had a negative return on equity of 82.83% and a negative net margin of 246.58%.The firm had revenue of $1.07 million during the quarter, compared to analysts’ expectations of $1.84 million.

Here are the key takeaways from Lineage Cell Therapeutics’ conference call:

• Cash runway extended into Q3 2028: Lineage reported $50.8 million in cash, cash equivalents, and marketable securities, aided by a $4.6 million ATM raise. The company also cited potential additional funding from warrant exercises, Roche milestones, and future partnerships.
• OpRegen remains dependent on Roche/Genentech optimization work, particularly surgical delivery for the GAlette study, before a potential multicenter controlled trial. Lineage pointed to expanded study sites, EMA IRIS registration, and Roche’s conference activity as encouraging signals, but acknowledged these steps do not commit Roche to a European study or advancement.
• Lineage highlighted rapid expansion of its internally owned “Lineage 3.0” pipeline using the AlloSCOPE manufacturing platform. COR1 corneal endothelial cells are entering in vivo testing with initial data targeted by year-end, while the ILT1 diabetes program is focused on solving the large-scale islet manufacturing challenge.
• ReSonance, the auditory neuronal cell therapy partnered with Demant, has completed three engineering runs and its first GMP run, with release testing underway. Demant may fund up to $12 million of preclinical work intended to support an IND and/or CTA filing.
• Second-quarter revenue declined to $1.1 million from $2.8 million a year earlier, while R&D spending increased to $4.8 million as Lineage invested in preclinical programs. Reported net income of $1.5 million was primarily driven by a non-cash gain from warrant remeasurement rather than operating performance.

Lineage Cell Therapeutics Price Performance

Shares of LCTX stock traded down $0.03 during trading hours on Friday, hitting $1.10. The stock had a trading volume of 831,783 shares, compared to its average volume of 977,374. The stock has a market capitalization of $274.23 million, a price-to-earnings ratio of -5.79 and a beta of 1.53. Lineage Cell Therapeutics has a one year low of $0.95 and a one year high of $2.09. The stock’s 50-day moving average price is $1.20 and its two-hundred day moving average price is $1.45.

Institutional Trading of Lineage Cell Therapeutics

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Lineage Cell Therapeutics by 6.2% during the 3rd quarter. Vanguard Group Inc. now owns 9,006,930 shares of the company’s stock worth $15,222,000 after purchasing an additional 524,057 shares during the period. Millennium Management LLC lifted its stake in Lineage Cell Therapeutics by 3.1% in the third quarter. Millennium Management LLC now owns 2,680,003 shares of the company’s stock worth $4,529,000 after purchasing an additional 79,426 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Lineage Cell Therapeutics by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 2,461,193 shares of the company’s stock valued at $4,112,000 after buying an additional 41,427 shares during the period. Renaissance Technologies LLC boosted its position in shares of Lineage Cell Therapeutics by 26.2% during the fourth quarter. Renaissance Technologies LLC now owns 2,404,800 shares of the company’s stock valued at $4,016,000 after buying an additional 499,167 shares during the period. Finally, Dauntless Investment Group LLC grew its stake in shares of Lineage Cell Therapeutics by 33.8% during the third quarter. Dauntless Investment Group LLC now owns 1,614,100 shares of the company’s stock valued at $2,728,000 after buying an additional 408,170 shares during the last quarter. 62.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on LCTX. D. Boral Capital reissued a “buy” rating and issued a $3.00 target price on shares of Lineage Cell Therapeutics in a research report on Monday, May 4th. HC Wainwright reiterated a “buy” rating on shares of Lineage Cell Therapeutics in a research note on Tuesday, July 14th. Finally, Canaccord Genuity Group started coverage on shares of Lineage Cell Therapeutics in a research report on Tuesday, April 28th. They set a “buy” rating and a $9.00 price objective on the stock. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Lineage Cell Therapeutics currently has an average rating of “Buy” and an average price target of $6.25.

Lineage Cell Therapeutics Company Profile

Lineage Cell Therapeutics is a clinical-stage biotechnology company developing novel, allogeneic cell therapies built on pluripotent stem cell platforms. The company focuses on three primary therapeutic areas—retinal disease, neural repair and immune-effector cell oncology—leveraging its proprietary manufacturing processes to create off-the-shelf cell therapy candidates designed for broad patient populations.

Its lead candidate, OpRegen, comprises retinal pigment epithelium cells intended to slow or reverse vision loss in patients with geographic atrophy secondary to age-related macular degeneration.