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Jun 30, 2023
Lyell Immunopharma Q2 2023 Earnings Report
Lyell Immunopharma's financial results for Q2 2023 were reported, and business highlights were discussed.
Key Takeaways
Lyell Immunopharma reported a net loss of $63.9 million for the second quarter ended June 30, 2023, compared to a net loss of $36.3 million for the same period in 2022. The company's cash, cash equivalents, and marketable securities totaled $632.7 million as of June 30, 2023. Initial clinical data from two lead product candidates are expected in 2024.
Cash, cash equivalents and marketable securities totaled $632.7 million as of June 30, 2023.
The company remains on track for initial clinical data from two lead product candidates in 2024.
Matt Lang, J.D., was appointed as Chief Business Officer.
Lyell is advancing four wholly-owned product candidates with two product candidates in Phase 1 clinical development, LYL797 and LYL845.
Lyell Immunopharma
Lyell Immunopharma
Forward Guidance
Lyell anticipates progress in its business plans, strategy, and clinical trials, with expectations of financial stability into 2026.
Positive Outlook
- Lyell’s anticipated progress, business plans, business strategy and clinical trials
- Lyell’s advancement of its pipeline or its research, development and clinical capabilities
- The potential clinical benefits and therapeutic potential of Lyell’s product candidates
- The advancement of Lyell’s technology platform
- Lyell’s expectation that its financial position and cash runway will support advancement of its pipeline into 2026
Challenges Ahead
- The effects of geopolitical instability
- Macroeconomic conditions and the lingering effects of the COVID-19 pandemic
- Lyell’s ability to submit planned INDs or initiate or progress clinical trials on the anticipated timelines, if at all
- Lyell’s limited experience as a company in enrolling and conducting clinical trials, and lack of experience in completing clinical trials
- Lyell’s ability to manufacture and supply its product candidates for its clinical trials