Lineage Cell Therapeutics, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 09, 2023 at 04:16 pm EST
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Lineage Cell Therapeutics, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 1.25 million compared to USD 3 million a year ago. Net loss was USD 7.11 million compared to USD 6.07 million a year ago. Basic loss per share from continuing operations was USD 0.04 compared to USD 0.04 a year ago.
For the nine months, revenue was USD 6.86 million compared to USD 12.79 million a year ago. Net loss was USD 16.71 million compared to USD 19.92 million a year ago. Basic loss per share from continuing operations was USD 0.1 compared to USD 0.12 a year ago.
Lineage Cell Therapeutics, Inc. is a clinical-stage biotechnology company developing allogeneic cell therapies for unmet medical needs. The Companyâs programs are based on its cell-based technology platform and associated development and manufacturing capabilities. From this platform, the Company designs, develops, manufactures, and tests specialized human cells with anatomical and physiological functions. Its neuroscience focused pipeline includes OpRegen, a retinal pigment epithelial cell therapy in phase II a development, for the treatment of geographic atrophy secondary to age-related macular degeneration; OPC1, an oligodendrocyte progenitor cell therapy in phase I/II a development for the treatment of spinal cord injuries; ANP1, an auditory neuronal progenitor cell therapy for the potential treatment of auditory neuropathy; PNC1, a photoreceptor neural cell therapy for the potential treatment of vision loss due to photoreceptor dysfunction or damage; and RND1.