Skip to main content

Go Premium in Our Biggest Sale Ever

UPGRADE NOW
TipRanks
Go Ultimate75% OFF

Lineage Therap (BT3) Q3 2026 Earnings Report

1 Followers

DE:BT3 Q3 2026 EPS Results

Actual EPS
-EUR 0.03
Consensus EPS
-EUR 0.03
Beat/Miss
Missed by -EUR 0.00
One Year Ago EPS
-EUR 0.12

DE:BT3 Q3 2026 Revenue Results

Actual Revenue
EUR 1.30M
Expected Revenue
EUR 2.10M
Beat/Miss
Missed by -EUR 801.92K
YoY Revenue Growth
-61.04%

Earnings Announcement Details

Quarter
Q3 2026
Date
11/12/2026
Time
After Close
Conference Call
Thursday, November 12, 2026
DE:BT3 Upcoming Earnings

Lineage Therap's next earnings date is estimated for March 11, 2027, based on past reporting schedules.

Q3 2026 Earnings Call Audio

DE:BT3 Q3 2026 Earnings Call
0:00 / 0:00

Q3 2026 Earnings Slide Deck

No slide deck is available for this earnings event.

Q3 2026 Earnings Call Summary

Q3 2026
Earnings Call Date:Nov 12, 2026|% Change Since:0.00%|
Earnings Call Sentiment|Positive

The call was strongly optimistic, centered on the transformational NeuroAirmid acquisition, the addition of HUNT1 as a third clinical-stage asset, positive preclinical findings, early safety observations, external trial funding, manufacturing capabilities, and an extended cash runway. The company also reported progress across ILT1, COR1, ReSonance, OpRegen, and OPC1. Offsetting factors included lower revenue, higher operating expenses, a wider operating loss, uncertainty over partner-controlled OpRegen timing, and the early stage of HUNT1 clinical and manufacturing validation. Overall, the highlights significantly outweighed the lowlights.

Company Guidance

Management updated run rate guidance into Q2 2028, which is 1 quarter earlier than prior guidance, and said $45.2 million in cash, cash equivalents and marketable securities as of September 30, 2026, is expected to fund planned operations into the second quarter of 2028; REGEN4HD clinical costs are estimated to run less than $2 million per year within a historic budget run rate of approximately $30 million per year, with up to approximately $2.6 million in cash, $2.4 million worth of Lineage common shares and a $356,000 cash payment due on the first anniversary of closing; Lineage remains eligible for approximately $32 million from warrants with a strike price of $0.91 and up to $615 million in development and commercial milestone payments; COR1 initial preclinical data are expected internally by year-end and publicly in the first quarter of 2027, ReSonance’s scientific advice meeting is scheduled for December, the third OPC1 DOSED patient is scheduled for surgery before year-end and a fourth patient is expected to be dosed in Q1, and the 21-patient Phase Ib/IIa REGEN4HD trial is currently enrolling.

  • Transformational NeuroAirmid Acquisition Adds HUNT1Lineage acquired NeuroAirmid Therapeutics and secured HUNT1, formerly known as hNSC-01, a clinical-stage allogeneic neural progenitor cell therapy for Huntington's disease. HUNT1 is currently being evaluated in the Phase Ib/IIa REGEN4HD study and becomes Lineage's third clinical-stage asset alongside OpRegen and OPC1.
  • HUNT1 Clinical Enrollment and Early SafetyCohorts A and B of the REGEN4HD study are complete, with 6 patients dosed as of the call. No serious adverse events have been reported to date. The study is planned to enroll 21 patients, including dose escalation from 2 million to 16 million cells across four cohorts and an additional 9 patients at the maximum tolerated dose.
  • HUNT1 Supported by Positive Preclinical FindingsIn Huntington's disease mouse models, HUNT1 cells differentiated into multiple neuronal subtypes, formed synaptic contacts with host neurons, released BDNF, and improved disease-associated pathology and behaviors. In a pivotal 9-month GLP toxicology and tumorigenicity study, no treatment-related adverse findings and no tumors were observed.
  • Novel Cell-Replacement Mechanism for Huntington's DiseaseHUNT1 is designed to address cell loss by differentiating into neurons that may connect with host brain circuitry and by producing growth factors, especially BDNF, that support neuronal survival. The cells are administered through a single direct injection into the striatum under real-time MRI guidance.
  • Relevant Huntington's Disease ExpertiseLineage highlighted internal expertise led by Dr. Priyantha Herath, who has cared directly for Huntington's disease patients and led work on two separate first-in-human Huntington's trials. The program also benefits from external expertise from Dr. Leslie Thompson's laboratory at UC Irvine.
  • Strategic Fit With Lineage's Cell Therapy PlatformHUNT1 was developed from a cell line for which Lineage already held commercial development rights and has used with its AlloSCOPE 5D technology and COR1 program. Lineage will assume responsibility for future HUNT1 cell manufacturing, process development, scale-up, and optimization after completion of the current REGEN4HD study.
  • External Funding Covers Most HUNT1 Trial CostsThe REGEN4HD trial is funded by a $12 million CIRM grant awarded to UC Irvine. Lineage estimates its clinical costs for the program will run less than $2 million per year, including its obligation to co-fund a portion of the CIRM grant up to $3.1 million. Management said the grant defrays approximately 2/3 of the expected Phase Ib/IIa trial costs.
  • Manageable Acquisition ConsiderationThe acquisition included a $2.4 million cash payment to NeuroAirmid shareholders, approximately 2.2 million Lineage common shares worth $2.1 million, and $1.9 million in cash payments to third parties. Aggregate external cash payments on day 1 were approximately $4.3 million. The company expects to pay NeuroAirmid shareholders up to approximately $2.6 million in cash and $2.4 million in Lineage common shares, plus a $356,000 cash payment to CIRM, on the first anniversary of closing.
  • Contingent Payments Preserve Capital FlexibilityAll remaining payments to NeuroAirmid shareholders are contingent on substantial clinical progress, can be paid half in Lineage stock at the company's election, and more than 90% of the remaining biobucks do not occur until high-value events such as Phase III trial initiation and product approvals.
  • Extended Cash RunwayAs of September 30, 2026, Lineage had $45.2 million in cash, cash equivalents, and marketable securities, which management expects will fund planned operations into the second quarter of 2028. This guidance was updated following the acquisition and is one quarter earlier than prior guidance.
  • Additional Potential Capital SourcesLineage remains eligible to receive approximately $32 million from the cash exercise of warrants issued in November 2024 at a $0.91 strike price. It also remains eligible for up to $615 million in development and commercial milestone payments under the Roche and Genentech collaboration agreement and continues to evaluate potential future partnerships.
  • OpRegen Clinical Material Shipped to GenentechLineage affirmed that publicly available information regarding the production, release, and shipment of clinical material for multiple batches of OpRegen from its GMP manufacturing facility to Genentech is accurate. Management said OpRegen continues to be evaluated by Genentech in the Phase IIa GAlette study and remains well supported within Roche and Genentech.
  • OpRegen Remains Among the Furthest-Advanced RPE ProgramsManagement stated that a competitor's ongoing Phase Ib RPE transplant trial has been significantly delayed, with its anticipated primary completion date pushed to December 31, 2027. Lineage said it and its Roche and Genentech partners remain furthest along in clinical development in the RPE cell transplantation field.
  • AlloSCOPE 5D Patent Issued Through 2043Lineage announced issuance of a patent covering an application of its AlloSCOPE platform called 5D, with an expected patent expiration date into 2043. The company uses 5D methods to capture features of 2D adherent manufacturing in a 3D culture environment.
  • ILT1 Demonstrates 5D Scalability and Islet Precursor DifferentiationLineage scaled its 5D technology from 100 mL to 500 mL and more recently to 3 liters. Its R&D team differentiated pluripotent stem cells into islet cell precursors in a 5D system, and those precursors exhibited the desired attributes in a head-to-head comparison with precursors made on a 2D system.
  • ILT1 Offers Multiple Development PathsBecause the islet cell precursors produced through the 5D system are common to all islet differentiation protocols, Lineage said the work opens multiple development options, either independently or through an alliance with specialized parties. Management stated that any alliance would reflect the value of the enabling technology and that Lineage is not interested in becoming a contract manufacturer.
  • COR1 Advances Into Preclinical TestingThe COR1 corneal endothelial cell program moved from product concept into preclinical animal testing in less than a year. Lineage used AlloSCOPE 5D to achieve precursor expansion and differentiation in a 3D bioreactor, and the resulting cells, together with the company's proprietary thaw-and-inject formulation, met internal criteria for continued development.
  • COR1 Data Expected in 2027Lineage expects to have initial internal preclinical data for COR1 by year-end and plans to share the data publicly in the first quarter of 2027.
  • ReSonance Collaboration ExtendedReSonance, Lineage's auditory neuronal cell therapy for hearing loss, advanced into preclinical development with funding from William Demant Invest under a $12 million research collaboration. At a recent joint steering committee meeting, the parties decided to advance the collaboration into a second year, and a scientific advice meeting with the Danish Medicines Agency is scheduled for December.
  • OPC1 DOSED Study Continues Without Unexpected EventsLineage continues to enroll patients in the OPC1 DOSED study, which evaluates the safety and utility of a novel delivery device. Patients administered OPC1 with the device have not experienced unexpected procedural, product, or device-related adverse events, and no significant design changes have been required. The third patient is scheduled for surgery before year-end and a fourth patient is expected to be dosed in the first quarter.
  • OPC1 Enrollment Focused on Chronic PatientsThe next OPC1 patient is a chronic patient scheduled for surgery on December 8, and the patients discussed for the current enrollment sequence are chronic patients. Management said enrollment is slow because of a stagger and narrower criteria, but enrollment may accelerate after four patients are treated and the study enters open enrollment.
  • Industrialization and Manufacturing ReadinessLineage said it already has material to support 21 patients using the original NeuroAirmid process and is developing a more efficient, industrial-capable manufacturing method in parallel. The company filled a GMP master cell bank for the underlying cell line on the morning of the call, subject to release and analytical testing, and stated that future manufacturing may require bridging or comparability testing.
  • Fiscal Discipline and Portfolio ExpansionLineage said it added three new allogeneic cell transplant programs over approximately the past 12 months—two developed internally and one acquired—while maintaining a stable investment level of approximately $30 million per year. Management described this expansion as part of its Lineage 3.0 initiative to become a leader in next-generation allogeneic cell therapies.
  • Third-Quarter Net Income Improved Year Over YearThird-quarter 2026 net income was $4.2 million, or $0.02 per share basic and $0.03 loss per share diluted, compared with a net loss of $28 million, or $0.13 per share for both basic and diluted, in the same period of 2025. The change was primarily driven by the quarterly fair-value noncash remeasurement of the warrant liability.

DE:BT3 Earnings History

DE:BT3 earnings history
Report DateFiscal QuarterForecast / EPSLast Year's EPSEPS YoY ChangePress Release
Mar 11, 20272026 (Q4)-0.02-0――
Nov 12, 20262026 (Q3)-0.03-0.03-0.1276.92% (+0.09)
Aug 06, 20262026 (Q2)-0.03-0.03-0.1276.92% (+0.09)
May 12, 20262026 (Q1)-0.02-0.03-0.02-50.00% (-0.01)
Mar 05, 20262025 (Q4)-0.040.00-0.02120.00% (+0.02)
Nov 06, 20252025 (Q3)-0.02-0.12-0.02-550.00% (-0.10)
Aug 12, 20252025 (Q2)-0.02-0.12-0.03-333.33% (-0.09)
May 13, 20252025 (Q1)-0.02-0.02-0.0450.00% (+0.02)
Mar 10, 20252024 (Q4)-0.03-0.02-0.0333.33% (+0.01)
Nov 14, 20242024 (Q3)-0.04-0.02-0.0450.00% (+0.02)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat Missed