Lyell Immunopharma Q3 net loss $50.9M; workforce cut 25%; cash runway to 2027

Lyell Immunopharma, Inc.

Net loss $50.9M vs $70.3M YoY; non-GAAP net loss $43.0M (flat YoY).
Cash, equivalents and securities $598.2M; company expects funding operations into 2027.
Workforce reduction ~25%; CMO Tina Albertson departing; focus on clinical candidates LYL797 and LYL845.
Initial clinical data for LYL797 in 1H2024; LYL845 data in 2024; LYL119 IND expected 1H2024.
R&D expenses $43.8M (+5% YoY); G&A $15.5M (-41% YoY); no revenue.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Lyell Immunopharma, Inc. reported the third quarter ended September 30, 2023 results: revenue approximately zero, net income $50.9 million.

Period: the third quarter ended September 30, 2023
Revenue: approximately zero
Net income: $50.9 million
Result: reported results

Exact text from the filing

Lyell Immunopharma, Inc. (the “Company”) issued a press release announcing its financial results for the quarter ended September 30, 2023.

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Lyell Immunopharma, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-037346

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