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Sep 30, 2024
Lyell Immunopharma Q3 2024 Earnings Report
Lyell Immunopharma reported third quarter 2024 financial results and business highlights.
Key Takeaways
Lyell Immunopharma reported a net loss of $44.6 million for the third quarter ended September 30, 2024, compared to a net loss of $50.9 million for the same period in 2023. The company's cash, cash equivalents and marketable securities totaled $460.7 million as of September 30, 2024, which is expected to fund operations into 2027. Lyell is advancing two wholly-owned product candidates: IMPT-314 is in Phase 1-2 clinical development and LYL119 is entering Phase 1 clinical development.
Acquired ImmPACT Bio and strengthened clinical pipeline with the addition of IMPT-314, a dual-targeting CD19/CD20 CAR T-cell product candidate.
Presenting initial data from Phase 1 multi-center clinical trial of IMPT-314 at the American Society of Hematology 2024 (ASH) Annual Meeting.
Presenting three abstracts at the Society for Immunotherapy of Cancer (SITC) 2024 Annual Meeting highlighting anti-exhaustion technology and product candidates being advanced in Lyell’s pipeline.
Cash, cash equivalents and marketable securities of $460.7 million as of September 30, 2024 funds the Company through multiple clinical milestones into 2027.
Forward Guidance
Lyell anticipates benefits from the ImmPACT Bio acquisition, plans to accelerate IMPT-314 development, and expects its financial position to support pipeline advancement through multiple clinical milestones into 2027.
Positive Outlook
- Anticipated benefits of Lyell’s acquisition of ImmPACT Bio
- Lyell’s ability to accelerate the development of IMPT-314 and deliver increased complete response rates
- Lyell’s initiation of a pivotal trial in 2025 for IMPT-314
- Lyell’s development plans for LYL119 and the effectiveness of any technologies incorporated into LYL119
- Lyell’s expectation that its financial position and cash runway will support advancement of its pipeline through multiple clinical milestones into 2027
Challenges Ahead
- Inability to recognize the anticipated benefits of acquiring ImmPACT Bio and successful integration of ImmPACT Bio’s business with Lyell’s, including manufacturing IMPT-314 in Lyell’s LyFE manufacturing facility
- Effects of macroeconomic conditions, including any geopolitical instability and actual or perceived changes in interest rates and economic inflation
Historical Earnings Impact
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Avg. Return Before/After Earnings
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