Lineage Cell Therapeutics Inc
TASE:LCTX
Lineage Cell Therapeutics Inc
Lineage Cell Therapeutics, Inc. operates as a clinical-stage biotechnology company developing new cellular therapies for degenerative retinal diseases, neurological conditions associated with demyelination, and aiding the body in detecting and combating cancer. The company is headquartered in Carlsbad, California and currently employs 57 full-time employees. The firm is engaged in developing cell therapies for unmet medical needs. The company is focused on developing therapies for degenerative retinal diseases, neurological conditions associated with demyelination and aiding the body in detecting and combating cancer. Specifically, it is testing therapies to treat dry age-related macular degeneration, spinal cord injuries and non-small cell lung cancer. The firm has three allogeneic cell therapy programs: OpRegen, OPC1 and VAC2. OpRegen is a retinal pigment epithelium cell replacement therapy being developed for the treatment of advanced dry age-related macular degeneration (AMD) with geographic atrophy. OPC1 is an oligodendrocyte progenitor cell therapy that is being developed for acute spinal cord injuries (SCI). VAC2 is an allogeneic cancer immunotherapy of antigen-presenting dendritic cells that is being developed for non-small cell lung cancer.
Lineage Cell Therapeutics, Inc. operates as a clinical-stage biotechnology company developing new cellular therapies for degenerative retinal diseases, neurological conditions associated with demyelination, and aiding the body in detecting and combating cancer. The company is headquartered in Carlsbad, California and currently employs 57 full-time employees. The firm is engaged in developing cell therapies for unmet medical needs. The company is focused on developing therapies for degenerative retinal diseases, neurological conditions associated with demyelination and aiding the body in detecting and combating cancer. Specifically, it is testing therapies to treat dry age-related macular degeneration, spinal cord injuries and non-small cell lung cancer. The firm has three allogeneic cell therapy programs: OpRegen, OPC1 and VAC2. OpRegen is a retinal pigment epithelium cell replacement therapy being developed for the treatment of advanced dry age-related macular degeneration (AMD) with geographic atrophy. OPC1 is an oligodendrocyte progenitor cell therapy that is being developed for acute spinal cord injuries (SCI). VAC2 is an allogeneic cancer immunotherapy of antigen-presenting dendritic cells that is being developed for non-small cell lung cancer.
Cash / Runway: Cash of $55.8 million as of Dec 31, 2025 plus $5.4 million in warrant proceeds this March, which management says funds operations into Q2 2028.
OpRegen: Management reiterated confidence in OpRegen based on Phase I/IIa durability signals, Roche/Genentech expanding GAlette trial sites (10 added in past 9 months) and a $5 million milestone payment received.
Manufacturing: Lineage highlighted a notable manufacturing achievement: a GMP master/working bank and repeatable pluripotent production (AlloSCOPE) that they say can scale to millions of vials.
ILT initiative: The company hit an internal go/no-go for its islet (ILT) scale-up approach at 0.5 L and will attempt translation to multi-liter vessels as the next step, prioritizing scaling undifferentiated cells first.
New programs & BD: Lineage launched ReSonance (hearing) and signed a funded collaboration with William Demant Invest; CEO said another new cell-type disclosure could come in 3–6 weeks.
Financials (FY 2025): Revenues $14.6M; operating loss widened due to a $37.9M noncash warrant remeasurement and a ~$14.8M impairment, resulting in net loss $63.5M ($0.28/share).
OPC1 / DOSED: DOSED continues; first chronic spinal cord injury patient had a 6‑month safety visit with no significant safety events and device performed as planned; functional data collection is limited by study design.
Risks / uncertainties: Management noted geopolitical risks affecting Israeli staff, noncash accounting volatility from warrants, and that many program-specific regulatory/readout details remain with partners (e.g., Roche).
