Lineage Cell Therapeutics Added to Membership of 2024 Russell 3000® Index

Rhea-AI Summary

Lineage Cell Therapeutics (NYSE American and TASE: LCTX), a clinical-stage biotech firm, has been added to the Russell 3000® Index, effective July 1, 2024. This inclusion is part of FTSE Russell's annual reconstitution, which ranks the 4,000 largest US stocks by market cap. Membership in the Russell 3000® Index means automatic inclusion in either the Russell 1000® or Russell 2000® Index, as well as growth and value style indexes.

Brian M. Culley, CEO of Lineage, expressed optimism, noting that the inclusion could heighten investor awareness, boost institutional ownership, and provide additional liquidity for their stock. The Russell US indexes serve as benchmarks for $10.5 trillion in assets. FTSE Russell CEO Fiona Bassett highlighted the indexes' role in reflecting the dynamic US economy.

Positive

• Lineage Cell Therapeutics added to Russell 3000® Index, effective July 1, 2024.
• Inclusion could expand investor awareness and increase institutional ownership.
• Automatic inclusion in relevant large-cap or small-cap indexes ensures more exposure.

Negative

• None.

CARLSBAD, Calif.--(BUSINESS WIRE)-- Lineage Cell Therapeutics, Inc. (NYSE American and TASE: LCTX), a clinical-stage biotechnology company developing allogeneic cell therapies for unmet medical needs, today announced that the Company has been added as a member of the broad-market Russell 3000^® Index, effective after the U.S. market opens on July 1, 2024, as part of the 2024 Russell indexes reconstitution. The annual reconstitution of the Russell US indexes captures the 4,000 largest US stocks as of April 30, 2024, ranking them by total market capitalization. Membership in the Russell 3000^® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000^® Index or small-cap Russell 2000^® Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.

“We are pleased with Lineage’s continued inclusion within the Russell 3000, which can help continue to expand investor awareness, increase institutional ownership, and provide additional liquidity in our stock,” stated Brian M. Culley, Lineage CEO, “This recognition of our progress comes during an exciting time, and we believe that a deeper understanding of Lineage’s near term and longer term strategic objectives can help increase support for our novel and exciting approach to cell transplant medicine.”

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. According to data as of the end of December 2023, about $10.5 trillion in assets are benchmarked against the Russell US indexes, which belong to FTSE Russell, a prominent global index provider.

Fiona Bassett, CEO of FTSE Russell, an LSEG Business, comments:

“Russell indexes–now in their 40^th year–continue to evolve to reflect the dynamic US economy. Annual rebalancing plays a vital role in establishing accurate benchmarks, ensuring they correctly mirror their designated market segments and remain unbiased in terms of size and style.”

For more information on the Russell 3000^® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.

About Lineage Cell Therapeutics, Inc.

Lineage Cell Therapeutics is a clinical-stage biotechnology company developing novel or "off-the-shelf," cell therapies to address unmet medical needs. Lineage’s programs are based on its proprietary cell-based technology platform and associated development and manufacturing capabilities. From this platform, Lineage designs, develops, manufactures, and tests specialized human cells with anatomical and physiological functions similar or identical to cells found naturally in the human body. These cells are created by applying directed differentiation protocols to established, well-characterized, and self-renewing pluripotent cell lines. These protocols generate cells with characteristics associated with specific and desired developmental lineages. Cells derived from such lineages are transplanted into patients in an effort to replace or support cells that are absent or dysfunctional due to degenerative disease, aging, or traumatic injury, and to restore or augment the patient's functional activity. Lineage’s neuroscience focused pipeline currently includes: (i) OpRegen^®, a retinal pigment epithelial cell therapy in Phase 2a development under a worldwide collaboration with Roche and Genentech, a member of the Roche Group, for the treatment of geographic atrophy secondary to age-related macular degeneration; (ii) OPC1, an oligodendrocyte progenitor cell therapy in Phase 1/2a development for the treatment of spinal cord injuries; (iii) ANP1, an auditory neuronal progenitor cell therapy for the potential treatment of auditory neuropathy; (iv) PNC1, a photoreceptor neural cell therapy for the potential treatment of vision loss due to photoreceptor dysfunction or damage; and (v) RND1, a novel hypoimmune induced pluripotent stem cell line being developed in collaboration with Eterna Therapeutics Inc. For more information, please visit www.lineagecell.com or follow the company on X/Twitter @LineageCell.

Forward-Looking Statements

Lineage cautions you that all statements, other than statements of historical facts, contained in this press release, are forward-looking statements. Forward-looking statements, in some cases, can be identified by terms such as “believe,” “aim,” “may,” “will,” “estimate,” “continue,” “anticipate,” “design,” “intend,” “expect,” “could,” “can,” “plan,” “potential,” “predict,” “seek,” “should,” “would,” “contemplate,” “project,” “target,” “tend to,” or the negative version of these words and similar expressions. Such statements include, but are not limited to, statements relating to: the impacts to Lineage as a result of being added to the Russell 3000 Index; and the potential of our cell therapy platform. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Lineage’s actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by the forward-looking statements in this press release, including, but not limited to those risks and uncertainties inherent in Lineage’s business and other risks discussed in Lineage’s filings with the Securities and Exchange Commission (SEC). Lineage’s forward-looking statements are based upon its current expectations and involve assumptions that may never materialize or may prove to be incorrect. All forward-looking statements are expressly qualified in their entirety by these cautionary statements. Further information regarding these and other risks is included under the heading “Risk Factors” in Lineage’s periodic reports with the SEC, including Lineage’s most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed with the SEC and its other reports, which are available from the SEC’s website. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they were made. Lineage undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240702244492/en/

Lineage Cell Therapeutics, Inc. IR

Ioana C. Hone

(ir@lineagecell.com)

(442) 287-8963

LifeSci Advisors

Daniel Ferry

(daniel@lifesciadvisors.com)

(617) 430-7576

Russo Partners – Media Relations

Nic Johnson or David Schull

(Nic.johnson@russopartnersllc.com)

(David.schull@russopartnersllc.com)

(212) 845-4242

Source: Lineage Cell Therapeutics, Inc.

FAQ

What is the latest addition to the Russell 3000® Index involving Lineage Cell Therapeutics (LCTX)?

Lineage Cell Therapeutics (LCTX) has been added to the Russell 3000® Index, effective July 1, 2024.

When will Lineage Cell Therapeutics (LCTX) be included in the Russell 3000® Index?

Lineage Cell Therapeutics (LCTX) will be included in the Russell 3000® Index starting July 1, 2024.

How will Lineage Cell Therapeutics (LCTX) benefit from inclusion in the Russell 3000® Index?

Inclusion in the Russell 3000® Index can expand investor awareness, increase institutional ownership, and provide additional stock liquidity.

What is the Russell 3000® Index and how does it affect Lineage Cell Therapeutics (LCTX)?

The Russell 3000® Index ranks the 4,000 largest US stocks by market cap; inclusion of Lineage Cell Therapeutics (LCTX) ensures broader exposure and potential investor interest.