Company: LCTX
Filing Date: 2025-03-10
Form Type: 10-K
Source: 0000950170-25-036309
Chunk: 258

Company: Lineage Cell Therapeutics, Inc.
Filing Date: 2025-03-10
Form: 10-K
Item: Item 8
Chunk 258
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 in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audit we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audit included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that our audit provides a reasonable basis for our opinion.

/s/ WithumSmith+Brown, PC

We served as the Company's auditor from 2014 to 2024.

San Francisco, California

March 7, 2024

Except for Note 15, as to which the date is 

March 10, 2025

PCAOB ID Number 100

96

LINEAGE CELL THERAPEUTICS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(IN THOUSANDS)

    December 31, 2024

    December 31, 2023

    ASSETS

    CURRENT ASSETS

    Cash and cash equivalents
     
    $
    45,789

    $
    35,442

    Marketable securities

    2,016

    50

    Accounts receivable, net

    638

    745

    Prepaid expenses and other current assets

    2,554

    2,204

    Total current assets

    50,997

    38,441

    NONCURRENT ASSETS

    Property and equipment, net

    2,251

    2,245

    Operating lease right-of-use assets

    2,144

    2,522

    Deposits and other long-term assets

    614

    577

    Goodwill

    10,672

    10