Analyst Joseph Pantginis of H.C. Wainwright reiterated a Buy rating on Lineage Therap (LCTX – Research Report), with a price target of $7.00.
Joseph Pantginis’ Buy rating for Lineage Cell Therapeutics stems from several promising developments in the company’s pipeline and its recent interactions with regulatory bodies. Pantginis recognizes the potential in Lineage’s investigational new drug amendment for OPC1, a cell transplant therapy aimed at treating spinal cord injuries (SCI). The submission of this amendment to the FDA, which is a follow-up from previously encouraging clinical trials, signals readiness to proceed with the DOSED trial. This trial is notable because it will evaluate both the safety and the efficacy of a novel spinal cord delivery device for administering OPC1. The positive outcome of previous studies and constructive discussions with the FDA bolster Pantginis’ expectations for a smooth approval process and an early start to the clinical sites in 2024.
Furthermore, Pantginis’ optimism is fueled by the insights gained from the First Annual SCI Investor Symposium. The symposium highlighted the slow yet ongoing progress in SCI treatment and the convergence of scientific, medical, and regulatory efforts to make a meaningful impact on patients’ lives. Direct patient feedback illustrated the profound challenges they face and the importance of continued work and innovation in this area. Pantginis sees Lineage Cell Therapeutics as a key player in this evolving landscape, poised to contribute significantly to advances in SCI treatment, which underpins the Buy rating.
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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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