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
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