Lineage Cell Therapeutics Reports Q2 2024 Financial Results
Intellectia.AI Updated: 1970-01-01
Lineage Cell Therapeutics Reports Q2 2024 Financial Results
Lineage Cell Therapeutics, Inc. reported its financial results for the quarter ended June 30, 2024. The biotechnology firm, focused on the development of novel allogeneic cell therapies, provided detailed insights into its financial performance and strategic developments.
Key Financial Metrics
| Financial Metric | Q2 2024 | Q1 2024 | Q2 2023 | YoY Change (%) | Consensus Estimates | Actual vs. Consensus |
|---|---|---|---|---|---|---|
| Total Revenue | $0.5M | $1.5M | $2.3M | -78.26% | $970k | Below Estimate |
| Earnings Per Share (EPS) | $-0.07 | $-0.05 | $-0.06 | -16.67% | $-0.05 | Below Estimate |
Interpretation: The Q2 2024 financial performance showed a significant decline both year-over-year and sequentially in total revenue, primarily due to lower collaboration revenues under the Roche Agreement. The EPS was lower than analyst expectations, indicating a greater loss.
Segment Revenues
| Segment | Q2 2024 | Q1 2024 | Q2 2023 | Previous Guidance | Actual vs. Guidance |
|---|---|---|---|---|---|
| Collaboration Revenue | $0.0M | $0.1M | $1.8M | Not Provided | N/A |
| Royalties, License & Other | $0.5M | $1.4M | $0.5M | Not Provided | N/A |
Interpretation: The sharp drop in collaboration revenue was the main cause for the overall revenue decline. Consistent performance in the royalties and license segment indicates a stable revenue stream from existing agreements.
Operational Data
No additional operational data provided in the earnings release.
Comments from Company Officers
Company officers did not provide specific comments in the earnings release.
Dividends or Share Repurchase Program
No dividends or share repurchase programs were announced.
Forward Guidance
The earnings release did not provide any forward guidance.
Stock Price Movement
Following the earnings release, Lineage Cell Therapeutics' stock price increased by 2.66%.
This earnings summary provides a comprehensive look at the financial results for Lineage Cell Therapeutics for Q2 2024. The decline in revenue and EPS missing consensus estimates highlight potential areas of concern, whereas the slight increase in stock price post-release may suggest investor optimism for future performance.
