HomeFinancial MarketsWhy Lineage Cell Therapeutics Inc (LCTX) stock went up in the after-hours...

Why Lineage Cell Therapeutics Inc (LCTX) stock went up in the after-hours on Monday?

Lineage Cell Therapeutics Inc. (LCTX) shares surged 6.81% in after-hours on Monday, September 20, 2021, and closed the daily trading at $2.51. However, in the regular trading session of Monday, LCTX’s stock lost 7.84%. LCTX shares have risen 139.80% over the last 12 months, and they have moved up 1.73% in the past week. Over the past three months, the stock has lost 12.31%, while over the past six months, it has declined 0.84%.

Let’s see what are the latest news about the company?


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LCTX participation in the upcoming investor conference

Lineage Cell Therapeutics, Inc. (LCTX) will participate in a fireside chat at the 2021 Cantor Fitzgerald Virtual Global Healthcare Conference which is scheduled for September 27th, 2021. The company’s CEO Brian M. Culley will take part in the chat.

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The company will also participate in the 54th Annual Scientific Meeting of the Retina Society, which is scheduled for September 29 – October 2, 2021. LCTX will do a podium presentation and will present interim results from a Phase 1/2a study of its lead product candidate, OpRegen.

LCTX provide an update about OpRegen

On September 15, 2021, Lineage Cell Therapeutics, Inc (LCTX) reported interim results from its ongoing, 24-patient Phase 1/2a clinical study of its lead product candidate, OpRegen.

OpRegen has been well-tolerated to date in a minimum of 9 months of follow-up in all 12 patients and there have been no new, unexpected ocular or systemic adverse events or serious adverse events not previously reported.

New Appointment

On September 01, 2021, Lineage Cell Therapeutics, Inc (LCTX) appointed George A. Samuel III as Lineage’s General Counsel and Corporate Secretary. Mr Samuel will lead the Company’s legal operations, bringing extensive corporate, transactional, intellectual property and commercial expertise with his 15 years of rich experience.

LCTX recent financial results announcement

On August 12, 2021, Lineage Cell Therapeutics, Inc. (LCTX) announced its financial results for the second quarter of 2021, which ended on June 30, 2021.

Q2 2021 financial highlights

  • LXTX reported total revenue of $0.5 million in Q2 2021 compared to0.4 million for the same period in 2020.
  • Total operating expenses were $7.5 million in Q2 2021 compared to $6.7 million for Q2 2020.
  • It suffered a net loss of $4.8 million, or $0.03 per share (basic and diluted) in Q2 2021 compared to a net loss of $6.5 million, or $0.04 per share (basic and diluted) in Q2 2020.
  • As of June 30, 2021, the company had cash, cash equivalents and marketable securities totalled $68.7 million.

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Conclusion

Well, as of this writing, we have no recent news or development which could be linked with its mixed performance on Monday. Let’s see how it commence the trading on Tuesday?

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