call the We afternoon, everyone. and you, Ioana, appreciate today. joining good you Thank us on
and of to on may increasingly will for raw has a to biotech valuable or beings continue decades. biotech the addressing some call, industry the off start As facing hurt materials they which for sectors delivered challenges could continue social rely alter to the innovations sickled technological disruption for will support which comments fundamentals, on the human and its with which our get I'd and supply become I Unlike currently other like scarcer did industry. last
to us my So navigate sell-off determine events. first, of In be new the come environment. are With can will return each several to this lineage milestones have respect market. next. is And help on year biotech today, we we no overreaction we its outperform to cash that what of peers are, currently being attributes talk I profile. two which one of and about second, hand, biotech multiple which days an for to how companies is aims current very to steps, response in will need these well-positioned to to position response well-positioned better the important meantime, review the our have and sector. taking believe respect we're believe to to And the today any, Steps, current we near-term ought at our believe steps the comfortable bear some With years need mind, fundamental money to attractive raise us we in this hand prices. take current Lineage to and we in on and that cash to cash, on of to if
QX each two reported $XX and the our for as in million. years net less of reference, cash equivalents million. as past operating And approximately Our were cash than of $XX spends for
ramp And progress likely our nonetheless programs. have over that of runway cash While, the may of way, with years - does the receive not years. two we spending next any Genentech which milestones our by support historic each and our to the be deal levels expanded XXXX of Roche pipeline, the is from given above include multiple clinical to our we
we overall, good quite So about our position. cash feel
In on we're with lot incremental set to on diverse, -risk performance of entering our provide some trials. their provide help value developmental clinical increase and still the to the can which with one are of shareholders asset, of assets not next cases objectives working just prior we regulatory And clinical programs. can in of working events clinical and have de but Moving dependent a or much-needed our subsequent our program we're to clarity a toward. the near-term, milestones, important
between delivery regulatory year highlight this to and new of device for for five is expected spinal will initiating and clinical the OPCX first chronic injuries, cute with which area for goals to time, a OPCX the and trial administering not patients like injuries. I'd safety you which include which cord specific just improved clinical for to include XX first, today our patients in enroll some For
Second, meeting the FDA we've OPCX improvements made as process such discuss areas to with scale. to purity production in and manufacturing
spending the with pre-IND for program. and our cell to FDA UK generating auditorium have and but to of of potential aim data build And VACX pre candidates, to an an Cancer additional And and will fourth in clinical VACX this successfully to We in demonstrate lung year, this U.S. novel message Third, -risking goals new the program we will testing will which emphasize execution for of year. believe data cancer. upon de RON in floor advanced this our our represent provide some generated submitting milestones to programs. which -clinical our continue Research by therapy these IND be cell we for non-small ability particular meeting clarity regulatory course, corporate support goals a support product additional important
investors having mentioned profile. attractive enhanced will We which screening will Third at among those fundamental outperform the environment, in our an is challenging they companies this believe recovery. item, efforts the to can by outset fundamentals. Being in believe be find economic work I even harder identified which
cash but planned position believe already characteristics us I investment. an discussed and Now, have can activities, which Lineage additional help our I make offers attractive
our employ. believe capital we commitment efficiency, example, our will continue For reflects spending to levels to which we
with from our development have programs the new and to new our licenses program. external on platform that loss create capability ability also demonstrated hearing We capital spending without have
the to which and therapy assets puts We also proven which largest position the corporate us partnering of oncology, on than have one of trying close additional time. the confirm we transactions in to we working it of our repeat basis the corporate achieve And of first believe license outside ever partnerships. success ability rather to the deals cell have NVS for through
well-positioned the very fundamental my events, So on feel Those profile, comments about three hand, about categories near-term being, one's categories. importance and situation. to good overall of and I being in back our milestones going cash
communication, So to how things to the This I the to to landscape. be biotech aims important communications, principles; of turning development. not do today, a my adapting can and what able in well-known three about it's operations, two business with next believe offer Starting we to we changes shareholders. our key few that features for second recent highlight also we're want company and is say to
our about better with Understand align we our received will we to to helpful We we've continue mindset, awareness difficult believe broaden company owners, feedback for key fruits investor efforts in of messages. refine owners. current So those and the investors share continue to and and new been labors prices, we welcome objectives. these see to our sometimes we the but and targeting add it's adjusted the to you new engage have have
We seen the the increase heels the presentation also earlier meetings, of the and believe this alliance and recent an the and in the quality reflects particularly clinical our team's on number we future which full ARVO data month. of our investor opportune potential, have performance Roche-Genentech set of of
efficient. efficiency. is be to advantage but don't on features, their review reducing Lineage constantly our With from efficient headcount they have particular, One appropriate area to business operational achieve all know lately operational that their emphasis our in for why seen begin large-scale calling they in is announcements we programs being cell what reducing to ensure plan we manufacturing. our or it works to the I Second, weren't pipelines this always share common companies development with, environment. are And high-quality,
entire programs scale all and cell to stop So new or adding achieve team able launched we're or the suffering of therapy trained to single duplication funding. across expense teams program allocating pain we which the by avoiding for our programs, highly to which choose economies a new having of of each of
while week that announced staff in positions reductions Lineage biotech XX In areas. read adding recently year. this been key fact, have companies has I this
As made convenient which recently new one example, a to third development, point. business higher my a segment is we
that this our greater make new deals I many to be than some an VAC, We year. we Point, to enter in obviously what area success business even product adapting platform environment candidates corporate partnerships. we're the we may internally. new have technology into this on for us Third When development opportunities produce emphasis our by develop wanted numerous putting had about to and more OpRegen believe reflected there could can is but
there collaborations would evidence to is balance cells. get other the for receptor our objective ones. programs, funded be partnerships, given significantly with explore work determined up photo our an doing therapy seen manufacturing pathway NK open not like initiative. towards to technology. -clinical the sheet. is with rather recent islet uncertainty We to also allogeneic such easily intend just to we a goal so on example, advance Lineage, interest own pre partners like liquidity. stage, creating easier either also long about be securing about cells corporate cell of is sector, the at most or core want as timelines more The We've existing more manufacturing on partnerships for areas allogeneic dendritic the sure CIRM, new newly utilizing than what in for our a I'm capabilities which awareness partnering described from program cells. type subsidiaries clear, already is facing may established here, or assets shots NK partnership alliances open We we with basis auditory To have in that And launch well-funded for to or as working many around some programs to to our than developed speaking cell some in our make And their and exciting these. And new
We'll seek So our new ability the taking to going adjusted move additional Roche-Genentech we by operations, adapting back in landscape, since capabilities changing we has shown to areas how current to business. can my of unlocked development and validation areas. to our development. quickly the adding the business environment in frequent to Lineage comments in deal, steps which to Lineage is communication, approach we're ads believe our the value of and capitalize about programs areas on launch we've business And new which imperatives. supports rapidly
financial review, to the I a just before specific through move items. want mention few do I Now
had Roche the all structure, total announced is with First, And Meeting. been Genentech, of and a patients letters. spontaneous such reported along ARVO was including of of while known of delivered outer does to few with data it atrophy, or in the reported restoration ago, apparent retinal studies improvement only visual that OpRegen Notably, opportune four XXXX average that at who a not clinical presented gains showed by function occur. controlled patients was phobia, needed, five Prior XX.X had geographic license deal Annual to it are evidence the of weeks their Lineage. most
results So patients, we shown. reverse patient in a receiving to something stop believe our inhibitor to support disease which potential or complement progression geographic these no ever has operations knowledge, atrophy
recently, long-term of enrolled the be these in motor none we the can human OPCX Neurosurgery. Overall, participate clinical we spinal years MRI their trial focused XX-year believe the XX been neurologic full cord Additionally, safety been cell published therapy Journal patients that to well-tolerated data of no additional and an We neurological papers no treatment, cell following clinical clinical that given the OPCX results study clinical from year, with the this the also transplants This significant, serious have function, and events data in the is OPCX have running longest unsafe. are in acute the from implant. Ten medical for one cell complications SCiSTAR transplant be unexpected deterioration adverse the publication on treatment additional our thoracic to the first plan Pluripotent patients in cell that follow-up. there including field, our of injuries. which evidence attributable line. of of There published patients, safety had results findings. willing have is to important first OPCX severity additional study of And OPCX injury in this injury or on cervical provide trials in providing to trial indicate to
months. two coincidentally, the additional that mention available for become So that those coming previously. in I online didn't SCiSTAR results were are milestones so I morning which we And accepted the found just study will publication this expect
incredibly thank Research. Lineage our Life the annual year. on this supported funds Spinal again taking Lastly, you Wings for an next with who past Bull is employees may and to hope the Red us us in I inspirational have that and team was campaign. it Run Cord participated stockholders to This seen consider this you'll part event, and want weekend awareness World for raise I
as want our control matters. of longer that specifically to do -purchasing that we core due in over we steps our for lead Before such times Ukraine. in-house are time. our and operation is proposition. limited our to and dive report item It's vendors. are planning know we our is and public of and vigilant I these some our financial our as any place control, the meet backup we which of have into minds, solution We manufacturing the supplies and important in these our And these smoothly remain some to But keep functioning and particularly we development best about with disruptions of aware has we to briefly COVID I'm have many value war and and of goals that taken of an ultimately aren't results, pleased manufacturing affecting maintaining may pre course, that chains. address plans can materials such timelines. have people's for continue is of to on concerning I impacting aware matters or industry for ensure our certain reports aspects to we business, but those Because been issues events that delays supply global
Total million period connection that, to of from fees an for the our increase Roche primarily in the So turn with was approximately basis, $X.X received increase quarter But million the a the this cash obligations a first our XXXX, in basis. to with partner. $XX we $XX payment were $X.X upfront quarter are we agreement, recall licensing me same book due time let accruing collaboration results. the that revenues to million, of as we course on please our million on the fulfill that over
quarter were period was that and quarters a in in G&A. driven what is a of quarter accruals to same expenses book by potential compared to we the increase non-recurring XXXX an income million, continue $X approximately XXXX. merger This the operating book litigation, roughly million $XX.X nonrecurring for shows item related $X.X ahead. basis a settlement million Total to and the approximately fractional million the this So in on will up increase of $X.X Asterias the substantially
the Our resulting two the already loss mainly litigation with or settlement share. from loss million, was to Lineage in period the to million approximately XXXX for XXXX, $X.XX of net offset of for from I our operations Asterias items first Roche. $X.X mentioned, increased a million accrual compared $X.X $X.X same quarter attributable by was fourth the decrease revenues the from The per quarter collaboration as
important course, as Lineage's more investors we utilize in these the loss our of by to operations Those foreign are loss regard of while is rates. related, international changes programs I remind and our changes impacted currency well measure non-operational in variance think to between are fluctuations the that net as operations clinical it's value a to overall from our from relevant investments, of as tend subsidiaries loss forward. moving performance with to important, our
years an two is years months being $XX our marketable to sheet, the environment, of continue ahead. I'm purposeful and next of provides quarters. investors. is million liquidity as runway value-creating of put having believe we're us Accordingly, and and years level instead approximately for to reported or our feel at objectives And cash We equivalents this, quarter-end. least of funding the attractive characteristic we that by and to balance important emphasis in to saying this on Turning reach we've flexibility securities an
from I cash Roche will any trial. our biotech funding future also And also proposition. development our may trials. under the for with obligations in enter our hold into we in or clinical additional current believe CIRM under environment by current next value still potential for that to advancing OpRegen conclude, to for collecting potentially investors To because like create which and And good position both we increase last streak plan alike, our in is awards, during value understand spending from same successful year storm. net the index next available year. we the have the deals well, of certain but continue that good consecutive our we Lineage agreement, programs compared value an But the supplying current reminder, development ITI the hard has companies And that our we our to third And -- entities XBI discipline this Roche XBI milestones us create toward may frustrating a see as and bad balance dear grant such we markets. clinical be new from is puts and biotech to work discipline or a the likely business programs. that in through cells together agreements will cash outperformed for will or year maintain performed a spending to as We this spending we
our to the to a to sales path our partner from scale, that strong have ready and and to continue years. areas successful market a weeks, believe significant improvements that is ourselves, of in Thank sincerely not appreciate is advantages principle and and production, which There's rigorous only long-term. we become the investments the respond the lot and your advance delivery support but cell and in users in commercially overall best-in-class by With generated months, to you. competitive coming to product to of the we questions. necessary providing made ever medicine. core physicians patients purity, from to analyst data Lineage our Our clinical as protect us products achieve over cell and anticipate we leader cell proven end closer are Operator, we like believe programs, any clinical a products. creating also emerging to we in we And and testing to transplant position technology therapy end, And to for of transplants attributes to