Lineage Cell Therapeutics Entered Into Sales Agreement With B. Riley Securities; Effective As Of March 18 Controlled Equity Offering Sales Agreement Between Co And Cantor Fitzgerald & Co. Was Terminated; On March 12 Received Written Correspondence From U.S. FDA Regarding Its Ind As Amended For OPC1; Per Correspondence, FDA Advised That Company Not Initiate Proposed Clinical Study Until It Has Received FDA Feedback; FDA Anticipates Providing Feedback By April 26, 2024
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Lineage Cell Therapeutics (LCTX) has entered into a new sales agreement with B. Riley Securities, replacing a previous agreement with Cantor Fitzgerald & Co. Additionally, the FDA has advised LCTX not to proceed with a proposed clinical study for OPC1 until receiving further feedback, expected by April 26, 2024.
March 22, 2024 | 8:29 pm
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NEUTRAL IMPACT
Lineage Cell Therapeutics has signed a new sales agreement with B. Riley Securities and received FDA advice to delay its OPC1 clinical study.
The new sales agreement with B. Riley Securities could be seen as a positive development, indicating potential for financial growth or stability. However, the FDA's advice to delay the OPC1 clinical study introduces uncertainty regarding the company's near-term research progress and potential regulatory hurdles. The combined effect of these developments is likely to create mixed sentiment among investors, leading to a neutral short-term impact on LCTX's stock price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90