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LCTX NYSE AM· Lineage Cell Therapeutics Inc.
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LCTX NYSE AM· Lineage Cell Therapeutics Inc.
Earnings report Q3 2023

Lineage Cell Therapeutics Reports Decline in Revenue for the Latest Quarter

Segments of revenue

In the latest quarter, Lineage Cell Therapeutics reported total revenues of $1.25 million, a significant decrease from the $3 million reported in the same quarter last year. The company's revenue was primarily derived from collaboration revenues, which amounted to $957,000, and royalties and license fees, which amounted to $289,000.

Strengths

Despite the decline in revenue, Lineage Cell Therapeutics remains focused on its research and development efforts, with $3.74 million invested in this area during the quarter. The company's management believes that these investments will contribute to future revenue growth as they continue to advance their pipeline of cell therapy candidates.

Challenges

The decline in revenue can be attributed to lower collaboration revenues and royalties and license fees compared to the same quarter last year. This decline may be indicative of challenges in securing new collaborations and licensing agreements, which could impact the company's future revenue generation.

Noteworthy

It is worth noting that Lineage Cell Therapeutics reported a loss from operations of $6.71 million in the latest quarter, an increase from the $5.25 million loss reported in the same quarter last year. The company also experienced a decrease in comprehensive loss attributable to common shareholders, which amounted to $6.58 million, compared to $5.90 million in the same quarter last year.

Summary

Lineage Cell Therapeutics faced a decline in revenue in the latest quarter, primarily driven by lower collaboration revenues and royalties and license fees. The company's focus on research and development indicates a commitment to future growth, but challenges in securing new collaborations and licensing agreements may impact revenue generation. The increase in loss from operations and decrease in comprehensive loss highlight the financial challenges faced by the company.

Source documents

Form 10-Q  filed on Nov 09, 2023
124 pages scanned

Reference data

Company financials Q3 revenue 1.2M
Analyst estimates Q3 EPS beat by 0.75%
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