NYSE$LCTX

Lineage Cell Therapeutics In · Q1 2021 earnings

Q1 2021 earnings · · Investor relations

Briefing

Reported financial results for the first quarter of 2021 and highlighted significant progress with all three clinical programs.

Lineage Cell Therapeutics reported significant operational progress with its three clinical programs, including positive clinical results with OpRegen and strategic collaborations for OPC1 and VAC programs. The company is well funded to reach additional milestones due to capital raised during the quarter.

  • Lineage delivered continued positive clinical results with OpRegen for the treatment of dry-AMD with GA.
  • Partnerships were validated to support OPC1 and VAC programs.
  • Strategic collaborations for OPC1 and VAC reflect commitment to a comprehensive asset management approach.
  • Capital brought in during the first quarter ensures the company is well funded to reach additional milestones.

Headline financials

Total Revenue

$391K

Previous: $514K-23.9%
EPS (adj)

-$0.01

Previous: -$0.06+83.3%
Capital Expenditures

-$11K

Previous: -$10K-10.0%
Free Cash Flow

-$1.43M

Previous: -$8.41M+83.0%
Net Income

-$1.42M

Previous: -$8.4M+83.1%
Operating Income

-$7.05M

Previous: -$7.44M+5.2%
Gross Profit

$279K

Previous: $420K-33.6%
Cash & Equivalents

$56.2M

Previous: $9.83M+471.7%
Total Assets

$128M

Previous: $119M+7.6%
Stock-Based Comp

$539K

Previous: $626K-13.9%

Revenue & EPS history

Lineage · Revenue · Quarterly

$391K

Q1 2021-23.9%vs Q1 2020
Beat estimate in 9 of 16 quarters(56%)
ActualEstimate

Revenue by segment

Lineage · $700K total across 1 segment · Q4 2019

  • Royalties and licensing
    $700K

Forward guidance

Lineage anticipates continued progress with clinical trials, data presentations, and potential partnerships.

Tailwinds

  • Anticipated funding runway
  • Data presentations
  • Clinical trial advancement
  • Meetings and interactions with the FDA
  • Manufacturing improvements

Headwinds

  • Risks and uncertainties inherent in Lineage’s business
  • Risks in Lineage’s filings with the Securities and Exchange Commission (the SEC)
  • Lineage’s forward-looking statements are based upon its current expectations and involve assumptions that may never materialize or may prove to be incorrect.
  • All forward-looking statements are expressly qualified in their entirety by these cautionary statements.
  • Lineage undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q1 2021

Historical avgQ1 2021

+0.2%

Avg return

Earnings day

-1.1%

Avg return

5 days after

-0.6%

Avg return

30 days after

50%

31 / 62 earnings

Positive

+16.6%

Q4 2016

Best reaction

-14.5%

Q1 2010

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+1.5%-4.6%-2.3%
Q4 2025+0.5%-8.7%-14.7%
Q3 2025+1.2%+11.6%-0.6%
Q1 2025-0.1%+6.4%+72.3%
Q4 2024+0.4%-1.9%-22.6%
Q3 2024-5.3%-1.1%-44.0%
Q2 2024+4.4%-4.6%-3.4%
Q1 2024+0.9%-10.3%-16.4%
Q4 2023+15.0%+9.7%+23.9%
Q3 2023-5.5%-8.2%-5.5%
Q2 2023+0.0%+1.4%-5.6%
Q1 2023-3.5%-4.9%-3.5%
Q4 2022-2.1%-4.8%-6.2%
Q3 2022+15.2%+4.8%-2.4%
Q2 2022+0.6%-3.2%-16.7%
Q1 2022-5.9%+1.7%+17.6%
Q4 2021-5.6%-14.8%-3.5%
Q3 2021-0.4%+0.4%-19.0%
Q2 2021-1.1%-7.9%-12.1%
Q1 2021-0.4%+0.9%+26.4%
Q4 2020+10.2%+21.0%+32.3%
Q3 2020+7.4%+7.4%+32.0%
Q2 2020+3.7%+2.3%-2.3%
Q1 2020-3.7%-11.5%-7.3%
Q4 2019-5.3%-12.7%-2.5%
Q3 2019+6.6%+19.2%-5.5%
Q2 2019-8.9%-8.9%-8.9%
Q1 2019+0.8%-10.8%-16.7%
Q4 2018+10.2%+0.0%-17.8%
Q3 2018-8.6%-17.1%-27.1%
Q2 2018-3.7%-4.6%+14.1%
Q1 2018+0.9%+2.3%+3.7%
Q4 2017+0.7%-4.3%-10.1%
Q3 2017+14.3%+6.3%+8.5%
Q2 2017+6.4%+6.0%+8.3%
Q1 2017+0.3%+1.9%+1.6%
Q4 2016+16.6%+5.5%+5.8%
Q3 2016+0.3%+0.3%+1.3%
Q2 2016-5.4%-6.0%+5.1%
Q1 2016-4.6%
Q4 2015+9.5%
Q3 2015-7.6%
Q2 2015-6.2%
Q4 2014+1.2%
Q3 2014+0.3%
Q1 2014+6.4%
Q4 2013-7.0%
Q3 2013-1.8%
Q2 2013+0.5%
Q1 2013+8.5%
Q4 2012-9.5%
Q3 2012-4.5%
Q2 2012-4.3%
Q1 2012-2.1%
Q4 2011-4.2%
Q3 2011-7.1%
Q2 2011+3.0%
Q1 2011-2.9%
Q4 2010-4.7%
Q3 2010+6.9%
Q2 2010+2.1%
Q1 2010-14.5%

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