Lineage Cell Therapeutics(LCTX) - 2024 Q4 - Annual Results

Financial Performance - Total revenues for Q4 2024 were approximately $2.9 million, a net increase of $0.8 million compared to $2.1 million in Q4 2023, primarily driven by collaboration revenue from Roche[13] - Total revenues for the full year 2024 were $9.5 million, a net increase of $0.6 million compared to $8.9 million in 2023, driven by collaboration revenue from Roche[19] - Total revenues for the year ended December 31, 2024, increased to $9,499,000, representing a 6.2% growth from $8,945,000 in 2023[34] - Collaboration revenues rose to $8,149,000, up from $7,588,000, indicating an 7.4% increase year-over-year[34] Operating Expenses - Total operating expenses for Q4 2024 were $7.8 million, a decrease of $0.4 million compared to $8.2 million in Q4 2023[14] - Total operating expenses for the full year 2024 were $31.0 million, a decrease of $2.7 million compared to $33.7 million in 2023[20] - Total operating expenses declined to $30,977,000, down 8.0% from $33,678,000 in the previous year[34] Research and Development - R&D expenses for Q4 2024 were $3.4 million, a decrease of $0.5 million compared to $3.9 million in Q4 2023[15] - R&D expenses for the full year 2024 were $12.5 million, a decrease of $3.2 million compared to $15.7 million in 2023[21] - Research and development expenses decreased to $12,472,000 from $15,705,000, a reduction of 20.0%[34] Net Loss - Net loss attributable to Lineage for Q4 2024 was $3.3 million, or $0.02 per share, compared to a net loss of $4.8 million, or $0.03 per share, for Q4 2023[18] - Net loss attributable to Lineage for the full year 2024 was $18.6 million, or $0.09 per share, compared to a net loss of $21.5 million, or $0.12 per share, for 2023[25] - Net loss attributable to Lineage for 2024 was $18,609,000, compared to a net loss of $21,486,000 in 2023, reflecting a 13.1% improvement[34] Financial Position - Cash and cash equivalents increased to $45,789,000 as of December 31, 2024, up from $35,442,000, a growth of 29.0%[32] - Total assets grew to $113,218,000, compared to $101,019,000 in 2023, marking a 12.0% increase[32] - Total liabilities decreased to $36,206,000 from $38,996,000, a reduction of 4.6%[32] - Lineage's shareholders' equity increased to $78,381,000, up from $63,419,000, representing a 23.5% rise[32] - The company anticipates sufficient cash, cash equivalents, and marketable securities to support operations into the first quarter of 2027[29] Regulatory and Clinical Updates - OpRegen received RMAT designation from the FDA, and the ongoing GAlette Study is expanding to additional clinical sites[12] Financing Activities - Lineage completed two financings totaling $44 million in gross proceeds, with potential for an additional $36 million upon full cash exercise of clinical milestone-linked warrants[5]