Company: LCTX
Filing Date: 2025-03-10
Form Type: 10-K
Source: 0000950170-25-036309
Chunk: 194

Company: Lineage Cell Therapeutics, Inc.
Filing Date: 2025-03-10
Form: 10-K
Item: Item 1B
Chunk 194
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.15

        Balance at December 31, 2024

        10,068

        $
        1.84

        4.58

        $
        —

        Options exercisable at December 31, 2024

        9,784

        $
        1.82

        4.53

        $
        —

        Options exercisable and expected to vest      at December 31, 2024

        10,068

        $
        1.84

        4.58

        $
        —

       Stock-based Compensation ExpenseThe fair value of each option award is estimated on the date of grant using a Black-Scholes option pricing model applying the weighted-average assumptions noted in the following table: 

        Year Ended December 31,

        2024

        2023

        Expected life (in years)

        6.11

        6.20

        Risk-free interest rates

        4.2
        %

        4.2
        %

        Volatility

        76.2
        %

        74.7
        %

        Dividend yield

        —

        —

122

Operating expenses include stock-based compensation expense as follows (in thousands): 

        Year Ended December 31,

        2024

        2023

        Research and development
         
        $
        646

        $
        794

        General and administrative

        4,431

        3,846

        Total stock-based compensation expense
         
        $
        5,077

        $
        4,640

       As of December 31, 2024, total unrecognized compensation costs related to unvested stock options and unvested RSUs under all equity plans, were $8.2 million, which is expected to be recognized as expense over a weighted average period of approximately 2.4 years for stock options and 1.1 years for RSUs.  For the years ended December 31, 2024 and 2023, the weighted average grant-date fair value per share for options granted during the year under the 2021 Plan was $0.77 and $1.00, respectively.  No RSUs were granted in the year ended December 31, 2024 or 2023.  The total intrinsic value of options exercised during the years ended December 31, 2024 and 202