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Lineage Cell Therapeutics Inc. (LCTX) stock soared in the recent trading session; here’s why?

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In the recent trading session, Lineage Cell Therapeutics Inc. (LCTX) stock soared 7.34% to trade at $2.34 at the time of writing. LCTX stock previously closed at $2.18. The LCTX stock volume traded 0.42 million shares. The average volume of stock for the past months is 1.74 million which is higher then the volume traded today. In the past year, LCTX stock soared by 186.84%, but recently for the past week, it plunged by -9.54%. The stock has gained by 0.46%, the stock has gained 0.46% as well as 61.48% for the past 3 and 6 months respectively. Lineage Cell Therapeutics is currently valued in the market at $347.75 million with 150.57 million outstanding shares.

Lineage Cell Therapeutics’ operative background

Lineage Cell Therapeutics Inc. is a clinical-stage biotechnology company that specifically focuses on the development and marketing of treatments in an innovative and unique way to match the unmet needs of the patients. These unmet needs and clinical development are being made in the treatment of degenerative diseases occurring in United States and internationally as well.

The clinical programs in the pipeline

The programs are focused on cell-based therapy platforms, in-house development, and manufacturing capabilities. All of these programs are proprietary. Lineage Cell Therapeutics Inc. offers various products that are used for therapies and treatments of neurology, oncology, blood, vascular-based diseases and disorders, and blood plasma volume expansion. LCTX stock also operates its business in the field of research which include programs for vision restoration and Demyelination. Lineage Cell Therapeutics Inc.

The lead products of the company include OpRegen which is a replacement therapy for retinal pigment epithelium cell- treatment for dry-age related macular degeneration. VAC2 is immunotherapy based on allogeneic cancer for dendritic cells and developing to treat non-small lung cancer. OPC1 is an oligodendrocyte progenitor-based cell therapy being developed for the treatment of acute spinal cord injuries. All of these products are in phase I or phase I/IIA development.

Agreement with Immunomic Therapeutics for collaboration on immunotherapy study

Today, 20th April 2021, Lineage Cell Therapeutics Inc. announced that it has come into an agreement with Immunomic Therapeutics.    This agreement is a worldwide license and development collaboration with the biotechnology company that focuses on the study of platforms for nucleic acid immunotherapy.

The aim of this collaboration is to focus on the development of a novel treatment candidate that will be based on VAC allogenic cancer immunotherapy, a platform provided by Lineage and targeting ITI’s tumor-associated antigen. This novel product will be used for the treatment glioblastoma multiforme (GBM). Furthermore, there will also be a collaboration by both companies on the commercial marketing and development of novel VAC product candidate.

Details of this agreement

According to the agreement, Lineage Cell Therapeutics Inc. will be entitled to pay an upfront amount of $2 million payment as anticipated for the first year and for the development of the product as well as its commercialization milestone, it will pay up to $67 million. This will entitle Lineage to gain royalties up to 10% on net sales of future products. ITI will be fully responsible for the commercialization and clinical advancement of the program.

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