Lineage Cell Therapeutics is a clinical-stage company making off-the-shelf cell therapies; its retinal cell therapy OpRegen is partnered with Roche and Genentech, and none of its products is approved.
Lineage's most valuable asset is OpRegen (RG6501), a retinal cell transplant for geographic atrophy that Roche and Genentech develop under a deal with up to $620 million in milestones. In an uncontrolled Phase 1/2a study, 12 patients with less advanced disease had mean visual acuity above baseline through 36 months, and Genentech's Phase 2a GAlette has no results date. Lineage's own programs are early, and cash of $50.8 million is expected to fund operations into Q3 2028.
Thesis checklist
0 risks need attention
Why it is in this state
The evidence, what would weaken it and the source filing
Why it is in this state
The evidence, what would weaken it and the source filing
Why it is in this state
The evidence, what would weaken it and the source filing
Why it is in this state
The evidence, what would weaken it and the source filing
Next decision point
Tests: Genentech advances OpRegen through Phase 2a
Does GAlette support Genentech advancing OpRegen toward a pivotal study?
Strong, inconclusive and weak outcomes
What to look for in the result and how each would move the checklist
Price and material events
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OpRegen remains central as ReSonance advances through its funded preclinical collaboration
OPC1's DOSED trial in chronic SCI tests whether oligodendrocyte progenitor cell therapy can restore function in a historically intractable disease
About this history: every entry shows when the Thesis moved and what it said. The reasoning behind each move (the evidence, the analysis and the source filing) and the earnings write-ups are part of a subscription.
Dates, trials and completed outcomes are open to everyone. What each upcoming milestone hinges on is part of a subscription.
Disease areas: Eye diseases, Neurology and pain, Obesity, diabetes and heart disease
Catalyst calendar · Upcoming FDA decisions · Thesis changes
Competitive landscape
11 peers tracked
Cash: Market-data provider estimate; measurement period unavailable.
Debt: Market-data provider estimate; a complete comparable filing balance is unavailable.
Quarterly burn: Estimated from trailing free cash flow; measurement period unavailable.
Net cash and estimated runway require verified matching measurement periods. Missing debt components are not assumed to be zero.
Runway: No underlying guidance available.