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Jun 30, 2024
Lyell Immunopharma Q2 2024 Earnings Report
Lyell Immunopharma reported dose-dependent antitumor clinical activity in patients with relapsed/refractory triple-negative breast cancer and expanded development of LYL797 into four new tumor types.
Key Takeaways
Lyell Immunopharma reported a net loss of $45.8 million for the second quarter ended June 30, 2024, and has cash, cash equivalents and marketable securities of $491.1 million as of June 30, 2024, which supports advancing diverse pipeline through multiple clinical milestones into 2027.
Reported dose-dependent antitumor clinical activity in patients with relapsed/refractory triple-negative breast cancer from the Phase 1 trial of LYL797.
Expanded development of LYL797 into four new tumor types, including ROR1+ relapsed/refractory platinum‑resistant ovarian cancer, endometrial cancer, multiple myeloma and chronic lymphocytic leukemia.
Received FDA clearance of an IND for LYL119, a next-generation ROR1-targeted CAR T-cell product candidate incorporating four proprietary technologies.
Cash, cash equivalents and marketable securities of $491.1 million as of June 30, 2024 supports advancing diverse pipeline through multiple clinical milestones into 2027
Lyell Immunopharma
Lyell Immunopharma
Forward Guidance
Lyell expects that its financial position and cash runway will support advancement of its pipeline through multiple clinical milestones into 2027.
Positive Outlook
- Continued clinical progress of the LYL797 trials
- Plans to enroll patients with platinum-resistant ovarian cancer and endometrial cancer in the LYL797 trial
- Plans to submit an IND for LYL797 to initiate a new trial evaluating LYL797 in patients with multiple myeloma or chronic lymphocytic leukemia and the timing thereof
- Advancement of its pipeline and its research, development and clinical capabilities
- Advancement of Lyell’s technology platform
Challenges Ahead
- Effects of macroeconomic conditions, including any geopolitical instability and actual or perceived changes in interest rates and economic inflation
- Ability to submit planned INDs or initiate or progress clinical trials on the anticipated timelines, if at all
- Limited experience as a company in enrolling and conducting clinical trials, and lack of experience in completing clinical trials
- Ability to manufacture and supply its product candidates for its clinical trials
- The potential for results from clinical trials to differ from nonclinical, early clinical, preliminary or expected results