Lyell Immunopharma Reports Business Highlights and Financial Results for the Fourth Quarter and Full Year 2024

Core Insights - Lyell Immunopharma is advancing its pipeline of next-generation CAR T-cell therapies, particularly focusing on IMPT-314, a dual-targeting CD19/CD20 CAR T-cell product candidate for aggressive large B-cell lymphoma [2][3][5] Financial Performance - For the fourth quarter of 2024, Lyell reported a net loss of $191.9 million, compared to a net loss of$52.9 million in the same period of 2023 [10] - The total net loss for the year ended December 31, 2024, was $343.0 million, up from$234.6 million in 2023 [10] - Cash, cash equivalents, and marketable securities stood at $383.5 million as of December 31, 2024, down from$562.7 million a year earlier, which is expected to support operations into 2027 [14] Clinical Development - IMPT-314 is currently in a Phase 1/2 clinical trial for relapsed or refractory aggressive large B-cell lymphoma, with initial data showing a 94% overall response rate and a 71% complete response rate at three months [6][7] - The company plans to initiate pivotal trials for IMPT-314 in the third-line and later setting by mid-2025 and in the second-line setting by early 2026 [2][12] Research and Development - Research and development expenses for the fourth quarter of 2024 were $48.7 million, slightly up from$47.0 million in the same quarter of 2023 [11] - The annual R&D expenses decreased to $171.6 million in 2024 from$182.9 million in 2023, primarily due to reduced personnel-related costs following a workforce reduction [11][13] Corporate Strategy - The acquisition of ImmPACT Bio has strengthened Lyell's clinical pipeline, particularly with the addition of IMPT-314 [5] - The company is focused on advancing next-generation CAR T-cell product candidates and plans to submit a new IND for a solid tumor CAR T-cell product candidate in 2026 [2][12]