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Dec 31, 2022
Lyell Immunopharma Q4 2022 Earnings Report
Lyell Immunopharma reported financial results for Q4 and full year 2022, initiated Phase 1 clinical trials for two product candidates, and presented nonclinical data at scientific conferences.
Key Takeaways
Lyell Immunopharma reported a net loss of $8.4 million for the fourth quarter of 2022, with revenue of $48.4 million. The company's cash, cash equivalents, and marketable securities totaled $710.3 million as of December 31, 2022, which is expected to fund operations into 2026. Two Phase 1 clinical trials were initiated, and nonclinical data were presented at scientific conferences.
Initiated Phase 1 clinical trials for LYL797 and LYL845, wholly-owned product candidates for solid tumors.
Presented nonclinical data highlighting CAR T cell and TIL product candidates at scientific conferences.
Revenue for the fourth quarter was $48.4 million, primarily driven by recognizing deferred revenue from the GSK collaboration agreement.
Cash, cash equivalents, and marketable securities totaled $710.3 million as of December 31, 2022, providing a cash runway into 2026.
Lyell Immunopharma
Lyell Immunopharma
Forward Guidance
Lyell anticipates progress, business plans, business strategy and clinical trials; Lyell advancing its pipeline or growing its capabilities; the potential clinical benefits and therapeutic potential of Lyell’s product candidates; Lyell’s expectation that its strong financial position with cash runway into 2026 will enable it to demonstrate the value of its two lead clinical programs and continue to invest in and develop its pipeline; expected milestones; enrollment expectations for the Phase 1 clinical trials of LYL797 and LYL845; the timing of initial clinical data from Lyell’s planned Phase 1 trials for LYL797 and LYL845
Positive Outlook
- Advancing pipeline
- Growing capabilities
- Potential clinical benefits
- Therapeutic potential of Lyell’s product candidates
- strong financial position with cash runway into 2026
Challenges Ahead
- Effects of geopolitical instability
- Macroeconomic conditions and the ongoing 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 lack of experience as a company in enrolling, conducting or completing clinical trials
- Lyell’s ability to manufacture and supply its product candidates for its clinical trials