Lineage Cell Therapeutics Reports $1.5 Million Revenue in Q1 2025, Net Loss Improves

Lineage Cell Therapeutics, Inc. reported a total revenue of $1.5 million for the first quarter of 2025, reflecting a 4% increase from $1.4 million in the same period of 2024. The growth was primarily driven by a 7% rise in collaboration revenues, which reached $1.3 million, attributed to ongoing progress under the company's collaboration agreement with Roche. However, royalties, license, and other revenues decreased by 10% to $232,000, indicating a decline in sales-related income. The company recorded a net loss of $4.1 million, a significant improvement from the $6.6 million loss reported in the prior year, resulting in a net loss per share of $0.02 compared to $0.04.

Operating expenses for Lineage decreased slightly to $8.0 million from $8.1 million year-over-year. The reduction was mainly due to a 63% decrease in cost of sales, which fell to $36,000, while research and development expenses increased by 3% to $3.1 million. General and administrative expenses also saw a minor decline of 3%, totaling $4.9 million. The company continues to invest in its product pipeline, which includes its lead candidate OpRegen, currently in a Phase 2a clinical trial for age-related macular degeneration, and OPC1, aimed at spinal cord injury recovery.

In terms of strategic developments, Lineage has maintained its focus on expanding its product offerings and enhancing its operational capabilities. The company has established a collaboration with Roche, which includes potential milestone payments totaling up to $620 million, alongside tiered royalties on net sales of OpRegen. Additionally, Lineage has initiated a new clinical study for OPC1, expected to commence enrollment in June 2025, which aims to evaluate a novel delivery device for spinal cord injuries.

As of March 31, 2025, Lineage reported $47.9 million in cash, cash equivalents, and marketable securities, a slight increase from $45.8 million at the end of 2024. The company has indicated that this liquidity is expected to support its operations for at least the next twelve months. Lineage's total assets decreased to $111.8 million from $113.2 million, while total liabilities also fell to $34.1 million from $36.2 million, reflecting a continued focus on managing operational costs and financial obligations.

Looking ahead, Lineage anticipates ongoing challenges related to market conditions, including geopolitical factors and economic uncertainties that could impact its operations and capital raising efforts. The company remains committed to advancing its clinical programs and exploring additional funding avenues to support its growth strategy.