Lyell Immunopharma Q3 2022 Earnings Report
Key Takeaways
Lyell Immunopharma reported a net loss of $70.3 million for the third quarter ended September 30, 2022. Cash, cash equivalents and marketable securities as of September 30, 2022 were $750.7 million, which extends funding into 2026.
IND application for LYL845 cleared, advancing second wholly owned product candidate into clinical development.
Cash, cash equivalents and marketable securities of $750.7 million as of September 30, 2022, extends funding into 2026.
Advanced two product candidates into clinical development and added LYL119 to pipeline.
Initial clinical data from LYL797 and LYL845 expected in 2024.
Lyell Immunopharma
Lyell Immunopharma
Forward Guidance
Lyell believes that its cash, cash equivalents and marketable securities balances will be sufficient to meet working capital and capital expenditure needs into 2026.
Positive Outlook
- Cash runway into 2026
- Advancement of multiple product candidates through key clinical milestones
- Initial clinical data from both wholly owned product candidates, LYL797 and LYL845, expected
- Expense timing
- Diligent expense management
Challenges Ahead
- Effects of the COVID-19 pandemic
- Geopolitical instability
- Macroeconomic conditions
- Lack of experience as a company in enrolling, conducting or completing clinical trials
- Potential for results from clinical trials to differ from preclinical, early clinical, preliminary or expected results