secwatch.observer — SEC 8-K summary
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Issuer:     Lyell Immunopharma, Inc. (LYEL)
CIK:        0001806952
Form:       8-K
Filed at:   2025-04-01T23:59:59+00:00
Accession:  0001193125-25-070521
Event type: other_material
Sentiment:  negative
Materiality: 0.65
Item codes: 2.05, 7.01, 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Lyell Immunopharma to close West Hills facility, cut 73 jobs; CBO resigns
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- Board approved closure of West Hills manufacturing facility acquired from ImmPACT Bio in 2024.
- Workforce reduced by ~73 employees; expects $3M-$4M in severance costs in Q2/Q3 2025.
- LyFE center in Bothell, WA to manufacture IMPT-314 for clinical trials and potential launch.
- Matthew Lang (CBO) resigns effective April 13; will remain advisor until September 30, 2025.
- Reaffirms 2025 net cash use guidance of $175M-$185M; cash runway into 2027.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1806952/000119312525070521/0001193125-25-070521-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1806952/000119312525070521/d920617d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-070521

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