Lineage Cell Therapeutics (LCTX) Tops Q4 EPS by 2c, Revenues Beat

Lineage Cell Therapeutics (NYSE: LCTX) reported Q4 EPS of ($0.03), $0.02 better than the analyst estimate of ($0.05). Revenue for the quarter came in at $1.24 million versus the consensus estimate of $1.03 million.

“2019 was a transformative year for Lineage. We established Lineage as a leading cell therapy company with the goal to usher in a new branch of medicine based on transplanting intact cells into the body to restore activity lost to aging, injury, or disease,” stated Brian M. Culley, CEO. “We expanded our clinical pipeline by combining three complementary cell therapy assets under one roof, and also significantly reduced our cash burn by eliminating non-core activities. We focused our priorities and rebranded the company with a new leadership team, name, and headquarters in San Diego County. As we enter 2020, we intend to capitalize on the changes we made in 2019 and continue our positive momentum. Our primary goal is to complete enrollment in our Phase 1/2a clinical trial of OpRegen for dry AMD and collect the data that will guide our late-stage trial design and partnership discussions. We also will continue our efforts to advance the OPC1 program into a randomized trial by introducing commercially enabling enhancements to the manufacturing process. Lastly, we are working with our development partner, Cancer Research UK, and continue to assess clinical data that is being generated from the ongoing Phase 1 trial of VAC2. We are evaluating whether to exercise our option to acquire the data generated in the trial if the data supports that decision. We are excited about the three clinical programs that we are working to advance, each of which represents a potential billion dollar market opportunity.”

For earnings history and earnings-related data on Lineage Cell Therapeutics (LCTX) click here.

You May Also Be Interested In

• Nanometrics (NANO) Issues Business Update, Reports FY23 Results
• SeaChange (SEAC) Announces an Agreement to be Acquired by Enghouse and Termination of Previously Announced Proposed Acquisition by Partner One
• SLM (SLM) Tops Q1 EPS by 20c; offers guidance