CARLSBAD, Calif. - Lineage Cell Therapeutics (NYSE:LCTX), Inc. (NYSE American and TASE: LCTX), a biotech firm specializing in cell therapies, announced today it has secured a grant from the California Institute for Regenerative Medicine (CIRM) to support the upcoming 2nd Annual Spinal Cord Injury Investor Symposium (2nd SCIIS). The event, scheduled for June 26 and 27, 2024, aims to advance spinal cord injury (SCI) research and treatment by fostering collaboration among various stakeholders.
The 2nd SCIIS, following its inaugural session last year, will convene experts, companies, regulators, patients, advocacy groups, and investors to discuss new and future treatment options for SCI. The symposium will be held at the Duane Roth Auditorium at the Sanford Consortium for Regenerative Medicine in La Jolla, California.
Brian M. Culley, CEO of Lineage, expressed gratitude for CIRM's support and the participation of leading entities in SCI advocacy and therapeutic development. Culley emphasized the symposium's role in promoting open dialogue and increasing awareness, which can potentially attract investment and expedite the development of new treatments.
The conference will cover various topics, including preclinical and clinical treatment approaches for SCI, disparities in care and outcomes, patient perspectives in drug development, and the need for precise clinical assessment tools. A diverse lineup of speakers and moderators from academia, research foundations, and the financial sector are confirmed for the event.
CIRM, known as California's Stem Cell Agency, was established by California voters in 2004 and received continued funding through Proposition 14 in 2020. The agency's mission is to accelerate stem cell treatments for patients with unmet medical needs and to promote the growth of the stem cell biotechnology sector in California.
Lineage Cell Therapeutics focuses on developing "off-the-shelf" cell therapies for various conditions. Its neuroscience pipeline includes treatments for spinal cord injuries, age-related macular degeneration, auditory neuropathy, and vision loss due to photoreceptor dysfunction.
This article is based on a press release statement.
InvestingPro Insights
As Lineage Cell Therapeutics, Inc. (NYSE American and TASE: LCTX) gears up for the 2nd Annual Spinal Cord Injury Investor Symposium, the company's financial health and market performance offer additional context for potential investors and stakeholders. According to InvestingPro, Lineage Cell Therapeutics holds more cash than debt on its balance sheet, which could provide the company with the financial flexibility needed to push its cell therapy innovations forward. Additionally, the firm's gross profit margins are impressive, sitting at a high 92.5% for the last twelve months as of Q1 2023, reflecting the company's strong ability to manage production and operational costs relative to its revenue.
However, Lineage's net income is expected to drop this year, and analysts are not anticipating the company to be profitable within the same timeframe. This outlook is underscored by the company's recent stock performance, which has fared poorly over the last month with a price total return of -24.32%. Despite this, Lineage has demonstrated a strong return over the last three months, with a price total return of 20.42%, indicating some volatility and potential for rebound in its market valuation.
For investors interested in a deeper dive into Lineage's financials and future prospects, InvestingPro offers additional InvestingPro Tips to consider. There are 9 more tips available, including insights on revenue valuation multiples and the company's liquidity position. To access these valuable tips and make more informed investment decisions, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
InvestingPro Data metrics further reveal that Lineage's Price / Book ratio stands at 3.78, suggesting that the market values the company at nearly four times its book value. The company's revenue for the last twelve months as of Q1 2023 is reported at 8.95 million USD, with a quarterly revenue growth of 9.03% in Q1 2023, indicating some positive movement despite a challenging year-over-year revenue growth rate.
As Lineage Cell Therapeutics continues to invest in groundbreaking cell therapies and hosts influential symposiums like the 2nd SCIIS, these financial insights from InvestingPro provide a snapshot of the company's current position and future challenges, which could influence investment and partnership decisions in the regenerative medicine sector.
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