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Mar 31, 2024
Lyell Immunopharma Q1 2024 Earnings Report
Lyell Immunopharma reported financial results for Q1 2024 and provided business highlights.
Key Takeaways
Lyell Immunopharma reported a net loss of $60.7 million for the first quarter ended March 31, 2024. The company's cash, cash equivalents, and marketable securities totaled $526.3 million as of March 31, 2024, which is expected to fund operations through multiple clinical milestones into 2027.
Expect to share initial clinical and translational data from the Phase 1 trial of LYL797 this quarter.
On track to report initial clinical data from the Phase 1 trial of LYL845 in the second half of 2024.
IND for second generation ROR1-targeted CAR T-cell product candidate on track for submission this quarter.
Cash, cash equivalents and marketable securities of $526.3 million as of March 31, 2024 supports advancing diverse pipeline through multiple clinical milestones into 2027.
Forward Guidance
Lyell expects to share initial clinical and translational data from the Phase 1 trial of LYL797 this quarter, is on track to report initial clinical data from the Phase 1 trial of LYL845 in the second half of 2024, and expects to submit an IND for a second generation ROR1-targeted CAR T-cell product candidate this quarter. The company believes that its cash, cash equivalents and marketable securities balances will be sufficient to meet working capital and capital expenditure needs into 2027.
Positive Outlook
- Initial clinical and translational data from the Phase 1 trial of LYL797 expected this quarter.
- Initial clinical data from the Phase 1 trial of LYL845 expected in the second half of 2024.
- IND for second generation ROR1-targeted CAR T-cell product candidate on track for submission this quarter.
- Cash position expected to fund operations through multiple milestones into 2027.
- Advancing a diverse pipeline of cell therapies for patients with solid tumors.
Challenges Ahead
- Effects of geopolitical instability.
- Macroeconomic conditions, including actual or perceived changes in interest rates and economic inflation.
Historical Earnings Impact
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