Monitor upcoming milestones: Phase 2a GAlette study enrollment updates, CIRM grant decision for OPC1 DOSED study, and any new partnership announcements for COR1 or ILT1. Cash runway through Q2 2028 provides no near-term financing urgency.
Price Chart
Executive Summary
Lineage Cell Therapeutics reported Q1 2026 revenue of $1.7M (up 14.8% YoY from $1.5M) and a net loss of $4.8M ($0.02 basic EPS), slightly wider than the $4.1M loss in Q1 2025. The company highlighted clinical progress across its pipeline including positive 3-year OpRegen data, a second OPC1 patient treated, and a new COR1 program, but operating cash burn increased to $8.1M from $4.9M a year ago. The filing is a routine quarterly update for a pre-revenue clinical-stage biotech with no material financial surprises or guidance changes.
Key Financial Metrics
Key Facts
- Q1 2026 total revenue of $1.7M, up from $1.5M YoY, driven by WDI collaboration revenue
- Net loss attributable to Lineage of $4.8M ($0.02 basic EPS) vs $4.1M ($0.02 basic EPS) in Q1 2025
- Operating loss of $7.6M vs $6.5M YoY; operating cash burn of $8.1M vs $4.9M YoY
- Cash, cash equivalents, and marketable securities of $53.4M as of March 31, 2026, expected to fund operations into Q2 2028
- Positive 3-year Phase 1/2a data for RG6501 (OpRegen) presented; second chronic SCI patient treated in OPC1 DOSED study
- Launched new COR1 corneal endothelial cell therapy program; met first ILT1 manufacturing milestone
- Appointed Priyantha Herath, MD, PhD as SVP & Head of Clinical; established Scientific Advisory Board
Financial Impact
No material financial impact — pre-revenue biotech with $53.4M cash runway into Q2 2028
Risk Factors
- Increasing operating cash burn ($8.1M in Q1 2026 vs $4.9M in Q1 2025) could shorten cash runway if spending accelerates
- Dependence on Roche/Genentech for OpRegen advancement — Genentech retains discretion over program
- Israeli regional conflict risk to manufacturing operations in Jerusalem subsidiary
- All pipeline programs are preclinical or early-stage clinical with no approved products
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-219421 |
| Document: lctx-20260512.htm | 0001193125-26-219421 |
| Document: 0001193125-26-219421-index-headers.html | 0001193125-26-219421 |
| Document: 0001193125-26-219421-index.html | 0001193125-26-219421 |
| Document: 0001193125-26-219421.txt | 0001193125-26-219421 |
| 8-K Data (Synthetic) | 0001193125-26-219421 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
May 12, 2026 23w ago | 8-K | $1.28 $1.28 | · 0.00% | ▲ +0.61% | $0.9943 (−22.32%) |
Mar 24, 2026 30w ago | EFFECT | $1.48 $1.63 | ▲ +10.14% | ▲ +1.23% | $0.9943 (−32.82%) |
Mar 5, 2026 33w ago | 8-K | $1.85 $1.54 | ▼ −16.76% | ▼ −14.71% | $0.9943 (−46.25%) |
US Market Status
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