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Lineage Cell Therapeutics, Inc. (LCTX+3.43%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's ongoing collaboration with Roche and Genentech for the development of OpRegen, a cell therapy program for ocular disorders, including geographic atrophy secondary to age-related macular degeneration. The company received a $50 million upfront payment from Roche and is eligible for up to $620 million in additional milestone payments.
Lineage reported total revenues of $9.5 million for 2024, a 6% increase from the previous year, primarily due to collaboration revenues under the Roche Agreement. The company incurred a net loss of $18.6 million, compared to a net loss of $21.5 million in 2023.
Research and development expenses decreased by 21% to $12.5 million, mainly due to reduced spending on the OPC1 program. General and administrative expenses increased by 5% to $18.2 million.
Lineage's cash, cash equivalents, and marketable securities totaled $47.8 million as of December 31, 2024. The company raised approximately $35.6 million through registered direct offerings during the year.
The company continues to advance its pipeline of cell therapy programs, including OPC1 for spinal cord injuries and ANP1 for sensorineural hearing loss, while exploring additional product candidates.
Lineage's operations in Israel have not been materially impacted by the ongoing regional conflict, although the company acknowledges potential risks related to geopolitical instability.
The company is actively seeking additional funding through various means, including equity offerings, collaborations, and grants, to support its operations and development programs.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Lineage Cell Therapeutics, Inc. annual 10-K report dated March 10, 2025. To report an error, please email earnings@qz.com.