Lineage Cell Therapeutics: Surges after multiple license deals for intellectual property

Lineage Cell Therapeutics

24/12/2019 15:26

** Shares of drug developer  LCTX.N  surge 51% to 82 cents -
its best day in 11 months; snaps 8-day losing streak
    ** Co enters into license agreement with three separate
companies for certain intellectual property and assets
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    ** Aggregate up-front cash payment from deals was greater
than $1 mln, with additional milestone payments due - LCTX
    ** "We have placed a greater emphasis on completing business
development transactions which can help fund our operations
without having to raise capital at unattractive prices" - CEO
Brian Culley
    ** Co also pursuing external partnership opportunities to
support its drugs in various development stages
    ** More than 300,000 shares traded - 3x their 25-day moving
avg
    ** Including session's gain, stock is down ~10% this year

 (Reporting by Dania Nadeem in Bengaluru)
 ((Dania.Nadeem@thomsonreuters.com; within U.S. +1 646 223 8780,
outside U.S. +91 80 6749 0647;))