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MARKETS / NYSE / LCTX
NYSE · BIOLOGICAL PRODUCTS, (NO DIAGNOSTIC SUBSTANCES) · SMALL CAP

Lineage Cell Therapeutics, Inc. LCTX

17 fiscal years on record · USD · FY2025 reported · SEC filings only
$14.6M
▲ 53.2% YoY
$-63.5M
$-19.4M
In brief

What this company does

From our AlloSCOPE platform, we develop, manufacture, and test specialized human cells with anatomical and physiological functions similar or substantially identical to cells found naturally in the human body. We are a clinical-stage biotechnology company developing cell replacement therapies to treat serious medical conditions. We are developing a portfolio of assets based on this mechanism and our most clinically-advanced program to date is OpRegen (RG6501), an allogeneic retinal pigmented epithelial (RPE) cell replacement therapy currently in Phase 2a development under a worldwide collaboration with F. Hoffman-La Roche Ltd. and Genentech, Inc., a member of the Roche Group (collectively or individually, “Roche” or “Genentech”), for the treatment of geographic atrophy (GA) secondary to dry-AMD. As of December 31, 2025, we had 77 employees, of which 22 were employed by Lineage and 55 were employed by CCN and work in Israel. Our common shares trade on the NYSE American and the Tel Aviv Stock Exchange under the symbol “LCTX.” Lineage was incorporated on November 30, 1990 in the State of California. We call this approach “Replace and Restore”.

Written from the business description in Lineage Cell Therapeutics, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 5 March 2026. Every sentence was checked against that document before publication.

Growth
USD 14.6M
Revenue, FY2025 · full 17-year series below
Revenue $M Net income $M
FY2025 · Revenue 14.6 · Net income -63.5
20.0M-25.0M-50.0M200920112013201520172019202120232025
Compound annual growth
−0.3%
+51.5%
+7.5%
+9.5%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +51.5% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−435 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -251.6% · Net -435.3%
100%200%300%-500%-1000%200920112013201520172019202120232025
ROE
FY2025 · ROE -103.4%
20%40%-100%-200%-300%200920112013201520172019202120232025

Each USD of equity lost 103 cents this year.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -19.4
-20M-40M200920112013201520172019202120232025

Total assetsUSD 112.6M
EquityUSD 44.5M
CashUSD 40.8M
Current ratio5.20×

Equity funds 40% of total assets.

The 17-year record
17 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 20252024202320222021202020192018201720162015201420132012201120102009
Revenue $B0.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.00.0
Operating income $B−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.1−0.1−0.1−0.1−0.0−0.0−0.0−0.0
EBITDA $B···−0.0−0.0−0.0−0.0−0.0−0.0−0.1−0.1−0.0−0.1−0.0−0.0−0.0−0.0
Income tax $B−0.00.0−0.00.0·−0.0−0.00.0·········
Net income $B−0.1−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.00.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0
Free cash flow $B−0.0−0.0−0.00.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0
EPS, diluted $−0.28−0.09−0.12−0.15−0.26−0.14−0.08−0.36−0.170.34−0.59−0.55−0.81−0.44−0.35−0.28−0.18
Dividend / sh $·················
Payout %·················
ROE %−103.4−26.2−31.4−31.7−45.7−19.7−11.3−35.9−14.246.7−150.9−142.1−359.9−112.1−49.4−29.3·
Shares out B0.240.220.170.170.170.150.150.130.130.100.090.080.060.050.050.05·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 79 reconciliationsAUDITED

Reconciled in 17 of 19 fiscal years. 15 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityBiological Products, (No Diagnostic Substances)
Listed onNYSE
Incorporated inCalifornia
Fiscal year endsDecember 31
SEC categorysmaller reporting company
Data on record since2009

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