Financial Performance - Total revenues for Q2 2024 were 1.408million,adecreaseof56.53.225 million in Q2 2023[10] - Collaboration revenues for the first half of 2024 were 2.285million,down54.24.992 million in the same period of 2023[10] - Net loss attributable to Lineage for Q2 2024 was 5.760million,comparedtoanetlossof5.229 million in Q2 2023, reflecting a 10.1% increase in losses[10] - The company reported a loss from operations of 5.867millioninQ22024,comparedtoalossof5.024 million in Q2 2023, indicating a 16.7% increase in operational losses[10] - Net loss for Q2 2024 was 5,773,000,comparedtoanetlossof5,203,000 in Q2 2023, representing an increase of 10.9% year-over-year[6] - Comprehensive loss attributable to Lineage common shareholders for Q2 2024 was 5,459,000,comparedto4,733,000 in Q2 2023, indicating a 15.3% increase[6] - The total comprehensive loss for the first half of 2024 was 11,733,000,comparedto8,647,000 in the first half of 2023, reflecting a 35.5% increase[6] - Net loss attributable to Lineage for the six months ended June 30, 2024, was 12.3million,comparedtoalossof9.6 million for the same period in 2023[9] Cash and Assets - Cash and cash equivalents decreased to 29.622millionasofJune30,2024,from35.442 million at the end of 2023, a decline of 16.3%[9] - Total current assets increased to 40.390millionasofJune30,2024,comparedto38.441 million at the end of 2023, an increase of 5%[9] - Total shareholders' equity increased to 66.875millionasofJune30,2024,from62.023 million at the end of 2023, an increase of 7.1%[9] - The accumulated deficit increased to 397,158,000asofJune30,2024,comparedto372,971,000 as of June 30, 2023, reflecting a 6.5% increase[14] - The company has a total of 38.5millionincash,cashequivalents,andmarketablesecuritiesasofJune30,2024[29]−Cashprovidedbyfinancingactivitieswas14.13 million for the six months ended June 30, 2024, compared to 5.63millioninthesameperiodof2023[9]Expenses−ResearchanddevelopmentexpensesforQ22024were2.868 million, a decrease of 26% from 3.873millioninQ22023[10]−Generalandadministrativeexpensesforthefirsthalfof2024were9.360 million, an increase of 4.3% compared to 8.973millioninthesameperiodof2023[10]−Stock−basedcompensationforQ22024amountedto1,269,000, compared to 1,280,000inQ22023,showingaslightdecreaseof0.9295,000, compared to 276,000forthesameperiodin2023[43]Liabilities−Totalliabilitiesdecreasedto35.927 million as of June 30, 2024, down 7.4% from 38.996millionattheendof2023[9]−Accountspayableincreasedto2,388,000 as of June 30, 2024, from 2,050,000asofDecember31,2023[47]−Totalliabilitiesdecreasedto5,018,000 as of June 30, 2024, down from 6,270,000asofDecember31,2023[47]ShareholderInformation−Thecompanyreportedatotalof188,824,000commonsharesoutstandingasofJune30,2024,anincreasefrom174,439,000sharesasofJune30,2023[14]−SharesissuedthroughATMfinancingtotaled33,000inQ22024,contributingtoanincreaseincommonsharesoutstanding[12]−Thenumberofcommonsharesissuedandoutstandingincreasedto188,823,975asofJune30,2024,from174,986,671asofDecember31,2023[55]−Lineage′s2021EquityIncentivePlanwasamendedtoincreasethenumberofcommonsharesthatmaybeissuedby19,500,000[60]LegalandRegulatoryMatters−Lineagepaid10.65 million to settle a class action lawsuit related to the Asterias Merger, with 3.53millionpaidbyLineageinthefirstquarterof2023[96]−Lineagehasnotrecordedanyaccrualforacontingentliabilityassociatedwithalegalproceeding,believingthataliabilityisnotprobablenorestimable[99]ResearchandDevelopment−Lineage′sleadcelltherapyprogram,OpRegen,iscurrentlyinaPhase2aclinicaltrialforthetreatmentofgeographicatrophysecondarytoage−relatedmaculardegeneration[19]−OPC1,anallogeneicoligodendrocyteprogenitorcelltherapy,isbeingdevelopedforspinalcordinjuryandhasreceiveda14.3 million grant from the California Institute for Regenerative Medicine[20] - The company plans to apply for additional funding from CIRM for continued clinical development of OPC1[20] - Lineage's pipeline includes additional programs such as ANP1 for hearing loss and PNC1 for vision loss due to photoreceptor dysfunction[21][23] Lease and Operating Commitments - The cumulative base rent for the Cell Cure lease in Jerusalem is approximately 165,000 ILS per month (approximately 44,000)asofJune30,2024[74]−Futureminimumleasecommitmentsforoperatingleasestotal3,130 million, with 579millionduein2024and1,156 million in 2025[79] - Right-of-use assets for operating leases increased to 2,584millionasofJune30,2024,comparedto2,522 million as of December 31, 2023, reflecting a growth of 2.5%[77] - Total operating lease liabilities rose to 2,837millionasofJune30,2024,from2,809 million as of December 31, 2023, indicating an increase of 1.0%[77] Tax Matters - The company established a full valuation allowance for deferred tax assets as of December 31, 2018, due to uncertainty in realizing future tax benefits[67] - Lineage did not record a deferred tax benefit or provision expense for the three or six months ended June 30, 2024[70]