Mayank Mamtani, an analyst from B.Riley Financial, has initiated a new Buy rating on Lineage Therap (LCTX).
Mayank Mamtani has assigned a Buy rating to Lineage Cell Therapeutics (LCTX) due to a number of compelling factors. The analyst was impressed by the promising clinical results from the OpRegen’s Phase I/IIa trial that were recently presented at the 23rd EURETINA Congress. The data indicated that all patients who received subretinal injections of OpRegen RPE cells showed improved outer retinal structure. This improvement was apparent within the initial three months post-treatment, with further enhancements or maintenance observed over time.
Additionally, the analyst highlighted the significant average gain in BCVA, a measure of visual acuity, by the third month. This gain further increased by the 12-month mark compared to baseline. The observed structural and anatomical improvements were deemed as fully objective measures that do not exhibit spontaneous improvement, implying that the benefit was derived from the transplanted OpRegen cells. The analyst also underscored the potential of the ongoing Roche-sponsored OpRegen Phase IIa trial, which aims to replicate similar findings and de-risk the program as patients with ocular disorders, including advanced dry age-related macular degeneration (dry AMD) with geographic atrophy (GA), are enrolled. This potential for positive outcomes led Mamtani to issue a Buy rating for LCTX.
Mamtani covers the Healthcare sector, focusing on stocks such as Novavax, CymaBay Therapeutics, and Agenus. According to TipRanks, Mamtani has an average return of -25.4% and a 20.60% success rate on recommended stocks.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $7.00 price target.
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Lineage Therap (LCTX) Company Description:
Lineage Cell Therapeutics, Inc. operates as a clinical-stage biotechnology company developing new cellular therapies for degenerative retinal diseases, neurological conditions associated with demyelination, and aiding the body in detecting and combating cancer. The company’s programs are based on two core proprietary technology platforms: cell replacement and cell and drug delivery. Its cell replacement platform creates new cells and tissues with its pluripotent and progenitor cell technologies. The company’s cell and drug delivery programs are based upon its proprietary HyStem cell and drug delivery matrix technology. It engages in the research and development of regenerative medicine or therapeutic products for advancement in the field of oncology, orthopedics, retinal and neurological diseases and disorders, blood and vascular system diseases and disorders, blood plasma volume expansion, diagnostic products for the early detection of cancer and hydrogel products that may be used in surgery and products for human embryonic stem cell research. The company was founded by Judith Segall, Hal Sternberg, Paul E. Segall and Harold D. Waitz on November 30, 1990 and is headquartered in Alameda, CA.
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