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Marketable Securities
 9 Months Ended
Sep. 30, 2025
Cash and Cash Equivalents [Abstract]  
Marketable Securities

4. Marketable Securities

The following table summarizes the fair value of marketable securities held by the Company and their location in the Company’s condensed consolidated balance sheet (in thousands):

 

 

 

September 30, 2025

 

 

December 31, 2024

 

Marketable debt securities

 

 

 

 

 

 

Included within cash and cash equivalents

 

$

18,058

 

 

$

17,432

 

Included within marketable securities

 

$

—

 

 

$

1,992

 

Marketable equity securities

 

 

 

 

 

 

Included within marketable securities

 

$

23

 

 

$

24

 

 

Marketable Debt Securities

The following tables summarize the available-for-sale debt securities classified within cash and cash equivalents and within marketable securities in the Company’s condensed consolidated balance sheet for the periods presented (in thousands):

 

 

 

September 30, 2025

 

Financial Assets:

 

Amortized Cost

 

 

Unrealized Gains

 

 

Unrealized Losses

 

 

Fair Value

 

U.S. Treasury securities

 

$

18,057

 

 

$

1

 

 

$

—

 

 

$

18,058

 

Total

 

$

18,057

 

 

$

1

 

 

$

—

 

 

$

18,058

 

 

 

 

December 31, 2024

 

Financial Assets:

 

Amortized Cost

 

 

Unrealized Gains

 

 

Unrealized Losses

 

 

Fair Value

 

U.S. Treasury securities

 

$

19,420

 

 

$

4

 

 

$

—

 

 

$

19,424

 

Total

 

$

19,420

 

 

$

4

 

 

$

—

 

 

$

19,424

 

 

The Company has not recognized an allowance for credit losses on any securities in an unrealized loss position as of September 30, 2025 or December 31, 2024. The Company believes that any individual unrealized losses represent temporary declines resulting from changes in interest rates, and do not reflect a deterioration of the credit quality of the issuer. The Company does not intend to sell these securities, nor anticipate that these securities will be required to be sold before recovery.

As of September 30, 2025, the amortized cost and estimated fair value of the Company’s available-for-sale debt securities by contractual maturity are shown below (in thousands):

 

Available-for-sale debt securities maturing:

 

Amortized Cost

 

 

Estimated Fair Value

 

In one year or less

 

$

18,057

 

 

$

18,058

 

Total available-for-sale debt securities

 

$

18,057

 

 

$

18,058

 

 

Marketable Equity Securities

Marketable equity securities with readily determinable fair values are reported at fair value with unrealized gains and losses related to mark-to-market adjustments included in income. Lineage’s marketable equity securities are classified as trading securities and for the periods reported have consisted of shares of common stock of OncoCyte Corporation (“OCX”) and of Hadasit Bio-Holdings Ltd. (“HBL”). Lineage has not owned any shares of OCX since June 30, 2024. The value of marketable equity securities is based on the closing price of OCX and HBL common stock on the last trading day of the applicable quarter.

The following table represents the realized and unrealized loss on marketable equity securities for the periods presented (in thousands):

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Gain (loss) on marketable equity securities, net

 

$

6

 

 

$

(6

)

 

$

(1

)

 

$

(21

)

Less: Loss recognized in earnings on marketable equity
   securities sold

 

 

—

 

 

 

—

 

 

 

—

 

 

 

4

 

Unrealized gain (loss) recognized on marketable equity
   securities held at end of period, net

 

$

6

 

 

$

(6

)

 

$

(1

)

 

$

(17

)