Lineage Cell Therapeutics, Inc. (NYSE:LCTX) Q2 2021 Earnings Conference Call August 12, 2021 4:30 PM ET Company Participants Ioana Hone – Director of Investor Relations Brian Culley – Chief Executive Officer Kevin Cook – Chief Financial Officer Conference Call Participants Kristen Kluska – Cantor Fitzgerald Joe Pantginis – H.C. Wainwright Dane Leone – RJF Operator Welcome to the Lineage Cell Therapeutics’ Second Quarter 2021 Conference Call. At this time, all participants are in a listen-only mode. An audio ...

Clinical Programs - Lineage is developing three clinical-stage allogeneic cell therapy programs: OpRegen for advanced dry age-related macular degeneration, OPC1 for subacute spinal cord injuries, and VAC2 for non-small cell lung cancer[154]. - OpRegen is currently in a Phase 1/2a clinical trial, targeting a condition that accounts for approximately 85-90% of all AMD cases, which is a leading cause of blindness in individuals over 60[154]. - OPC1's clinical trial is partially funded by the California Institute for Regenerative Medicine, focusing on spinal cord injuries[154]. - VAC2 is in a Phase 1 clinical trial funded by Cancer Research UK, targeting non-small cell lung cancer[154]. Financial Performance - Total revenues for the three months ended June 30, 2021, increased by $126,000 (33%) to $512,000 compared to $386,000 in the same period of 2020[176]. - Collaboration revenues rose by $213,000 (100%) for the three months ended June 30, 2021, primarily due to the ITI collaborative agreement[176]. - Royalties from product sales and license fees increased by $129,000 (130%) for the three months ended June 30, 2021, compared to the prior year[176]. - Grant revenues decreased by $216,000 (75%) for the three months ended June 30, 2021, due to reduced grant-related activities[176]. - Total other income for the three months ended June 30, 2021, was $2,115,000, compared to a net expense of $128,000 in the same period of 2020[192]. - The company recorded a net unrealized gain on marketable equity securities of $590,000 for the three months ended June 30, 2021, compared to an unrealized loss of $4,146,000 in the same period of 2020[194]. - For the six months ended June 30, 2021, Lineage recorded a net cash used in operating activities of $12.8 million, reflecting a loss from operations of $14.1 million[214]. - Lineage had an accumulated deficit of $300.3 million as of June 30, 2021[210]. Expenses - Research and development expenses for the three months ended June 30, 2021, were $2,931,000, an increase of $126,000 (4%) from $2,805,000 in the same period of 2020[182]. - General and administrative expenses for the three months ended June 30, 2021, increased by $628,000 (16%) to $4,536,000 compared to $3,908,000 in the same period of 2020[182]. Cash and Liquidity - As of June 30, 2021, Lineage had $68.7 million in cash, cash equivalents, and marketable equity securities, providing sufficient liquidity for planned operations for at least twelve months[210]. - Cash provided by investing activities for the six months ended June 30, 2021, was $10.0 million, primarily from sales of OncoCyte holdings[216]. - Cash provided by financing activities for the six months ended June 30, 2021, was $32.3 million, mainly from the sale of common shares[218]. Accounting and Revenue Recognition - The company recognizes revenue based on the transfer of control of products or services, following a five-step approach as per ASC 606[165]. - Revenue from government grants is recognized when related costs are incurred, as government entities do not meet the definition of a "customer" under ASC 606[166]. - Lineage assesses going concern uncertainty to ensure sufficient cash and working capital for at least one year from the issuance date of financial statements[164]. - The company has not reported significant changes to its critical accounting policies since its last annual report[157]. - Lineage's financial statements are prepared in accordance with generally accepted accounting principles in the United States, requiring management to make estimates and assumptions[156]. Taxation - Lineage recognized a deferred tax benefit of $169,000 for the six months ended June 30, 2021, primarily related to federal net operating losses[206]. - The deferred tax liability recorded in connection with the Asterias Merger amounted to $10.8 million, related to fair value adjustments for acquired assets[203]. - The company expects that deferred income tax expense or benefit will vary based on changes in the closing stock prices of OncoCyte shares[208]. - Lineage established a full valuation allowance for deferred tax assets as of December 31, 2018, due to uncertainty in realizing future tax benefits[205]. Market Impact - The COVID-19 pandemic has impacted patient enrollment in clinical trials, potentially causing delays in ongoing studies[211]. - The company expects fluctuations in other income and expenses to continue based on changes in the market price of OncoCyte shares, impacting net income or loss reported[197].

Lineage Cell Therapeutics, Inc. (NYSE:LCTX) Q1 2021 Earnings Conference Call May 13, 2021 4:30 PM ET Company Participants Ioana Hone - Director of Investor Relations Brian Culley - Chief Executive Officer Conference Call Participants Kristen Kluska - Cantor Fitzgerald Joe Pantginis - H.C. Wainwright Robert LeBoyer - Noble Capital Keay Nakae - Chardan Operator Welcome to the Lineage Cell Therapeutics’ First Quarter 2021 Conference Call. At this time, all participants are in a listen only mode. An audio webca ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to ________ Commission file number 001-12830 Lineage Cell Therapeutics, Inc. (Exact name of registrant as specified in its charter) California 94-3127919 (Stat ...

Lineage Cell Therapeutics, Inc. (NYSE:LCTX) Q4 2020 Earnings Conference Call March 11, 2021 4:30 PM ET Company Participants Ioana Hone – Director-Investor Relations Brian Culley – Chief Executive Officer Brandi Roberts – Chief Financial Officer Conference Call Participants Joe Pantginis – H.C. Wainwright Jason McCarthy – Maxim Group Keay Nakae – Chardan Operator Ladies and gentlemen welcome to the Lineage Cell Therapeutics' Fourth Quarter and Year End 2020 Conference Call. At this time, all participants are ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from___________ to __________ Commission file number 001-12830 Lineage Cell Therapeutics, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction ...

The future of cell therapy. Corporate Overview January 6, 2021 Forward-Looking Statements This presentation is for informational purposes only and is not an offer to sell or a solicitation of an offer to buy any securities of Lineage Cell Therapeutics, Inc. ("Lineage"). This presentation includes certain information obtained from trade and statistical services, third-party publications, and other sources. Lineage has not independently verified such information and there can be no assurance as to its accurac ...

Financial Data and Key Metrics Changes - Total revenues for Q3 2020 were $600,000, consistent with the same period last year, with an increase of $200,000 in royalties offset by decreases in grant revenues and research product sales [64][65] - Total operating expenses decreased to approximately $7.2 million from $8.9 million in Q3 2019, with R&D expenses down to $3.6 million from $4.3 million [66][67] - Net loss attributable to Lineage for Q3 2020 was $7.8 million or $0.05 per share, compared to a net loss of $16.5 million or $0.11 per share in the same period in 2019 [73] Business Line Data and Key Metrics Changes - R&D expenses for OpRegen decreased by $1.5 million due to reduced manufacturing activity, while VAC program expenses increased by $1.8 million due to a signature fee related to Cancer Research UK [66][67] - G&A expenses decreased to $3.6 million from $4.6 million, primarily due to reductions in compensation and merger-related expenses [69] Market Data and Key Metrics Changes - The company estimates nearly 2 million people in the US suffer from advanced dry AMD, representing a substantial market opportunity for OpRegen, projected to be several billion dollars [17][18] - The VAC2 program is positioned to address non-small cell lung cancer, with potential market opportunities exceeding $1 billion [83] Company Strategy and Development Direction - The company aims to grow into a leading allogeneic cell therapy company, focusing on generating compelling clinical data and developing pre-commercial manufacturing capabilities [8][11] - Lineage is modernizing its manufacturing processes to enhance the commercial viability of its products and facilitate partnerships with larger corporations [56][81] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about upcoming milestones, including data releases for OpRegen and updates on the OPC1 program, which are expected to create significant shareholder value [11][60] - The company is well-capitalized with $38 million in cash and marketable securities, allowing it to fund operations into 2022 [74][75] Other Important Information - The company has not conducted traditional equity financing in over three years, relying instead on cost reductions and timely sales of marketable securities [80] - Lineage is exploring potential grant support from California's Proposition 14, which could provide non-dilutive capital for its programs [92] Q&A Session Summary Question: Can you provide clarity on the OPC1 program and its manufacturing improvements? - Management plans to share specific data on manufacturing improvements in early December, highlighting advancements in scale and purity [93][94] Question: How does the recent AbbVie fast track for spinal cord injury impact Lineage? - Management views AbbVie's involvement as validation of the commercial opportunity in spinal cord injury, but emphasizes the unique advantages of their oligodendrocyte therapy [95][99] Question: Will there be updates on the OpRegen data and patient outcomes? - A comprehensive update on OpRegen data will be provided, focusing on patients that represent future customers for the therapy [108] Question: Are there plans to explore other cancer types for the VAC2 program? - Management is considering other tumor types for the VAC2 program, as the current focus on non-small cell lung cancer may not be the most effective application for their antigen [111]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to ________ Commission file number 001-12830 Lineage Cell Therapeutics, Inc. 2173 Salk Avenue, Suite 200 Carlsbad, California 92008 (Address of principal e ...

The future of cell therapy. Corporate Overview Brian M. Culley, Chief Executive Officer September 14, 2020 Forward-Looking Statements This presentation is for informational purposes only and is not an offer to sell or a solicitation of an offer to buy any securities of Lineage Cell Therapeutics, Inc. ("Lineage"). This presentation includes certain information obtained from trade and statistical services, third-party publications, and other sources. Lineage has not independently verified such information and ...