Lineage Cell Therapeutics reported a 53% revenue increase to $14.56 million in 2025 driven by collaboration milestones, notably with Roche/Genentech. Operating losses widened sharply to $36.6 million due to intensified R&D investments in cell therapy development. Net losses expanded to $63.5 million. Liquidity remains solid with $55.8 million in cash and marketable securities, supporting operations for at least the next twelve months, but ongoing capital requirements persist given the pre-commercial stage and milestone-dependent revenue streams.