Lineage Cell Therapeutics Reports 15% Revenue Growth in Q1 2026

Lineage Cell Therapeutics, Inc. reported its financial results for the first quarter of 2026, revealing total revenues of $1.725 million, a 15% increase from $1.502 million in the same period last year. The growth was primarily driven by a 24% rise in collaboration revenues, which reached $1.575 million, compared to $1.270 million in the prior year. However, royalties, license, and other revenues decreased by 35% to $150,000 from $232,000. The company incurred a net loss of $4.812 million, slightly higher than the $4.139 million loss reported in the first quarter of 2025, resulting in a basic net loss per share of $(0.02).

Operating expenses for the quarter totaled $9.318 million, up 16% from $8.007 million in the previous year. This increase was largely attributed to a 36% rise in research and development expenses, which amounted to $4.234 million, reflecting ongoing investments in the company's clinical programs, including OpRegen and OPC1. General and administrative expenses also rose by 5% to $5.084 million. The company’s cash and cash equivalents, along with marketable securities, totaled $53.4 million as of March 31, 2026, down from $59.2 million at the end of 2025.

In terms of strategic developments, Lineage continues to advance its lead program, OpRegen, which is currently in a Phase 2a clinical trial for the treatment of geographic atrophy secondary to dry age-related macular degeneration. The trial is being conducted in collaboration with F. Hoffmann-La Roche Ltd. and Genentech, with patient enrollment ongoing at multiple sites in the U.S. and Israel. Additionally, the company has launched a new program, COR1, aimed at developing a corneal endothelial cell therapy, and is progressing with its OPC1 program for spinal cord injuries.

Operationally, Lineage has seen fluctuations in its customer engagement metrics, with a notable increase in collaboration revenues attributed to its partnership with William Demant Invest 2 Aps for the ReSonance program. The company is also navigating challenges posed by geopolitical tensions in the Middle East, which could impact its operations in Israel, where a significant portion of its workforce is located. Despite these challenges, Lineage maintains that its current cash reserves will support its operations for at least the next twelve months, while it continues to explore additional funding avenues to support its ongoing clinical trials and development programs.