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Lineage Cell Therapeutics (LCTX) investor relations material
Lineage Cell Therapeutics Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary6 Nov, 2025
Executive summary
Advanced OpRegen program with eight new clinical sites and durable 36-month efficacy, supported by Roche/Genentech and RMAT designation.
Strategic partnership with William Demant Invest secured up to $12 million for Resonance (ANP1) hearing loss program, validating the platform and funding preclinical milestones.
Initiated large-scale manufacturing for iLET Cell (Type 1 Diabetes), with early work suggesting scalable islet cell production and a go/no-go decision expected next quarter.
OPC-1 program dosed first patient in DOSED study for spinal cord injury, with no significant safety events and CIRM grant finalist status for up to $7 million in non-dilutive funding.
Business model leverages internal development and strategic partnerships, focusing on scalable pluripotent cell platform and value creation.
Financial highlights
Q3 2025 revenues were $3.7 million, down $0.1 million year-over-year; nine-month revenue was $7.9 million, up 20% year-over-year.
Operating expenses for Q3 2025 were $7.5 million, with R&D at $3.3 million and G&A at $4.2 million.
Net loss for Q3 2025 was $29.8 million ($0.13/share), mainly due to a $26.6 million non-cash warrant liability remeasurement; nine-month net loss was $64.4 million.
Cash, cash equivalents, and marketable securities totaled $40.5 million as of September 30, 2025, expected to fund operations into Q2 2027.
Recorded a $14.8 million non-cash impairment charge for abandonment of the VAC platform.
Outlook and guidance
Cash runway extends into Q2 2027, not including potential milestone payments from Roche/Genentech or CIRM grant funds.
Expects continued momentum in 2026, driven by OpRegen progress, expanded partnerships, and manufacturing innovations.
Up to $36 million in potential proceeds from warrant exercises and $38.7 million available under the ATM program.
Awaiting CIRM grant decision, which could offset up to 50% of OPC-1 trial costs and free up capital for other programs.
Ongoing pursuit of additional capital through equity, grants, and collaborations.
What triggers the $37M OpRegen warrant capital?
How to overcome T1D islet cell production scale?
Impact if CIRM grant for OPC1 is not received?
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Next Lineage Cell Therapeutics earnings date
Q4 202512 Mar, 2026
Next Lineage Cell Therapeutics earnings date
Q4 202512 Mar, 2026
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Lineage Cell Therapeutics Inc is a biotechnology company developing cell-based therapies for degenerative diseases. The company focuses on regenerative medicine approaches for ophthalmology, neurology, and oncology, using proprietary cell manufacturing platforms. The company is headquartered in Carlsbad, California, and its shares are listed on the NYSE American.
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