Lyell Immunopharma, Inc. ( LYEL ) is a CAR-T therapy developer. The story is centered around a single asset known as ronde-cel. Target indication is LBCL, where it demonstrated 93% ORR, 76% CR, and ~18-month mPFS inMr Arunangshu Das is a software engineer, a finance and billing architect, and an active investor and entrepreneur. He is developing Tranzoro Investments to fill a critical lacunae - to help US investors understand Indian markets, and Indian investor understand US markets. For the former, he will ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________ FORM 10-K (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-40502 _________________________________ Lyell Immunopharma, Inc. ___________________ ...

Exhibit 99.1 Ronde-cel is an autologous CAR T-cell product candidate with a true 'OR' logic gate to target B cells that express either CD19 or CD20 with full potency and is manufactured with a process that enriches for CD62L-positive cells to generate more naïve and central memory CAR T cells with enhanced stemlike features and antitumor activity. Ronde-cel has received from the U.S. Food and Drug Administration (FDA) Regenerative Medicine Advanced Therapy (RMAT) designation as well as Fast Track designatio ...

Core Insights - Lyell Immunopharma is advancing its pipeline of next-generation CAR T-cell therapies, with significant clinical trials underway for its product candidates, including ronde-cel and LYL273 [1][3][4] Financial Performance - For the fourth quarter of 2025, Lyell reported a net loss of $140.7 million, compared to a net loss of $191.9 million in the same period of 2024. The total net loss for the year was $274.4 million, down from $343.0 million in 2024 [7][12] - Research and development expenses for Q4 2025 were $52.2 million, an increase from $48.7 million in Q4 2024. General and administrative expenses decreased to $10.6 million from $14.5 million in the same period [8][11] - As of December 31, 2025, cash, cash equivalents, and marketable securities totaled approximately $247.2 million, down from $383.5 million at the end of 2024 [12][19] Clinical Developments - Lyell has initiated patient dosing in the Phase 3 head-to-head trial (PiNACLE-H2H) comparing ronde-cel to other CAR T-cell therapies in patients with relapsed/refractory large B-cell lymphoma [1][5][9] - The ongoing Phase 1 trial for LYL273 has treated seven patients with metastatic colorectal cancer without dose-limiting toxicity, demonstrating promising clinical activity [1][10] Product Highlights - Ronde-cel is designed to target B cells expressing either CD19 or CD20, aiming to improve response rates compared to existing therapies. It has received RMAT and Fast Track designations from the FDA [4][6] - LYL273, an enhanced GCC-targeted CAR T-cell product candidate, has shown a 67% best overall response rate in its Phase 1 trial for refractory metastatic colorectal cancer [10][6] Recent Business Developments - The company closed a second tranche of $50 million from its equity private placement, following the achievement of a clinical milestone in the PiNACLE trial [2][5] - Smital Shah has been appointed as Chief Financial and Business Officer, effective March 2026 [2][5]

Summary of Lyell Immunopharma Conference Call Company Overview - **Company**: Lyell Immunopharma (NasdaqGS:LYEL) - **Industry**: Cell Therapy - **Focus**: Development of next-generation cell therapies for hematologic malignancies and solid tumors [2][3] Core Points and Arguments Clinical Programs - **Ronde-cel**: A dual-targeting CD19/CD20 CAR T-cell therapy for large B-cell lymphoma, currently in pivotal trials with a significant data update expected in the second half of the year. The therapy aims for higher complete response rates and longer duration of responses due to its unique manufacturing process [3][4][9]. - **Current Data**: 93% overall response rate, 76% complete response rate, and median progression-free survival of 18 months [9][10]. - **Comparison**: Market leaders have approximately 70% overall response rate and 50% complete response rate with 6-7 months median progression-free survival [10][11]. - **Lyell 273**: A novel CAR therapy for metastatic colorectal cancer, showing promising results with a 40% overall response rate and a median overall survival of 25 months from initial studies in China [5][28]. - **Target**: GCC (guanylyl cyclase C), expressed in over 95% of colorectal cancers, allowing for a more effective treatment without the need for a biomarker [26][27]. Market Potential - The third-line treatment market for large B-cell lymphoma is estimated to have around 6,000-7,000 patients, indicating a significant opportunity for Ronde-cel [12][13]. - The unmet need in metastatic colorectal cancer is substantial, especially among younger patients who prefer one-time treatments over ongoing chemotherapy [30]. Safety and Efficacy - Ronde-cel has shown a manageable safety profile with no cases of grade three or higher cytokine release syndrome and less than 5% incidence of grade three or higher ICANS [10][11]. - The safety profile of Lyell 273 is being closely monitored, with updates expected in the first half of the year [29]. Manufacturing Capabilities - Lyell has invested in a state-of-the-art manufacturing facility capable of commercial launch, with a competitive vein-to-site time of 16 days for Ronde-cel [38][39]. - The manufacturing process for Lyell 273 is even more automated, enhancing efficiency [39]. Financial Position - Lyell recently completed a $100 million PIPE financing, with the second tranche at a 150% premium, providing sufficient cash flow into Q2 and beyond [41][42]. Competitive Landscape - Lyell is positioned as a first-in-class player in the CD19/CD20 space, with ongoing pivotal trials and a strategy to outperform established competitors like Kite and BMS [46][47]. - The market is characterized by switching dynamics, where prescribers are likely to switch to therapies with better safety and efficacy profiles [46][47]. Important but Overlooked Content - The unique design of Lyell 273, which combines a CAR targeting GCC with a CD19 CAR to enhance cell expansion and efficacy in solid tumors, is a significant innovation [32][33]. - The potential for Lyell 273 to also target pancreatic cancer due to GCC expression in over 50% of pancreatic cancers highlights its broader applicability [33]. Upcoming Milestones - Data updates for both colorectal and large B-cell lymphoma programs are anticipated in the first and second halves of the year, respectively, marking a critical period for Lyell [50][51].

Summary of Lyell Immunopharma Conference Call Company Overview - **Company**: Lyell Immunopharma (NasdaqGS:LYEL) - **Focus**: Next-generation CAR T-cell therapies for oncology, specifically targeting large B-cell lymphoma and metastatic colorectal cancer [2][4] Key Developments - **Leadership Change**: Appointment of Smital Shah as Chief Financial and Business Officer, bringing significant experience [2] - **Funding Milestone**: Achievement of a clinical milestone allowing access to a second $50 million tranche from a PIPE deal at a price of $25.61 [2] Ronde-cel Program - **Product Description**: Ronde-cel is a bispecific CAR T-cell therapy targeting CD19 and CD20, designed for enhanced efficacy and reduced cancer escape [4][5] - **Clinical Trials**: Two pivotal clinical trials are ongoing, with expectations to be first to market with a best-in-class profile [5][8] - **Manufacturing Advantage**: Utilizes CD62L selection to enrich T-cells, leading to higher persistence and better patient outcomes [5][10] - **Clinical Data**: - Overall response rate of 93% and complete response rate of 76% in large B-cell lymphoma, compared to 70% for CD19 CARs [17] - Median progression-free survival of 18 months versus 7 months for CD19 CARs [17] - In primary refractory patients, a 61% complete response rate compared to 42% for competitors [18] Competitive Landscape - **Head-to-Head Trials**: Initiated a head-to-head trial against approved CAR T therapies, aiming to demonstrate superior efficacy and safety [21][38] - **Safety Profile**: Ronde-cel has shown no grade 3 or higher cytokine release syndrome and reduced rates of neurotoxicity (ICANS) to less than 5% [36][37] Market Opportunity - **Target Population**: Estimated 6,000-7,000 patients available in the third or later line of treatment, with a focus on CAR-naive patients [33][34] - **Bridging Therapy**: Allows for bridging therapy in trials, aligning with real-world practices and potentially improving patient outcomes [32][46] GCC CAR T-Cell Program - **New Program**: In-licensed GCC CAR T-cell therapy targeting colorectal cancer, with potential applications in pancreatic cancer [56] - **Clinical Results**: Previous studies in China showed a 40% overall response rate and a median overall survival of 25 months in metastatic colorectal cancer [57] - **Innovative Design**: Combines GCC targeting with CD19 to enhance T-cell activation and tumor infiltration [60][61] Future Directions - **Expansion Plans**: Potential to explore ronde-cel in other oncology and autoimmune indications in the future [75] - **Cash Runway**: Current cash runway extends into Q2 of 2027, supporting ongoing clinical trials [73] Conclusion - Lyell Immunopharma is positioned to make significant advancements in CAR T-cell therapies, with promising clinical data and a strong focus on execution in pivotal trials. The company is also exploring innovative approaches in solid tumors, indicating a robust pipeline for future growth.

Closing of additional $50 million tranche of $100 million equity private placement after achievement of clinical milestone for rondecabtagene autoleucelSmital Shah appointed Chief Financial and Business Officer SOUTH SAN FRANCISCO, Calif., March 09, 2026 (GLOBE NEWSWIRE) -- Lyell Immunopharma, Inc. (Nasdaq: LYEL), a late-stage clinical company advancing a pipeline of next-generation chimeric antigen receptor (CAR) T-cell therapies for patients with cancer, today announced it has closed the sale of an additi ...

Core Insights - Lyell Immunopharma is focused on advancing next-generation CAR T-cell therapies aimed at improving cancer treatment outcomes [2] - The company aims to provide patients with long-lasting treatment effects, allowing them to return to normal lives without ongoing therapy [2] - Lyell is positioned for significant value creation in the next 12 to 18 months through multiple catalysts in multibillion-dollar markets [3] Market Opportunities - The company targets large markets with significant unmet needs, specifically in relapsed/refractory large B-cell lymphoma, a $3 billion market for CAR T-cell therapies [3] - Another focus area is metastatic colorectal cancer, which is a growing market with limited approved therapies [3] Product Development - Lyell's lead program, Ronde-cel, is a dual targeting CD19/CD20 CAR T-cell product candidate [3] - Ronde-cel has the potential to become the standard of care in relapsed/refractory large B-cell lymphoma due to its high durable complete response rates and an outpatient-appropriate safety profile [3]

Summary of Lyell Immunopharma FY Conference Call Company Overview - **Company**: Lyell Immunopharma (NasdaqGS:LYEL) - **Focus**: Development of next-generation CAR T-cell therapies for cancer treatment, specifically targeting hematologic malignancies and solid tumors [2][3] Core Points and Arguments Market Potential - Lyell is positioned for significant value creation in the next 12 to 18 months through multiple catalysts in multi-billion dollar markets [3] - The company targets large markets with significant unmet needs, specifically: - **Relapsed refractory large B-cell lymphoma**: A $3 billion market for CAR T-cell therapies [3] - **Metastatic colorectal cancer**: A growing market with limited benefits from current approved therapies [3][19] Lead Programs - **Ronde-cel**: A dual targeting CD19/CD20 CAR T-cell product candidate - Expected to become the standard of care in relapsed refractory large B-cell lymphoma due to high durable complete response rates (93% overall response rate, 76% complete response rate) and a favorable safety profile [3][10][12] - Two pivotal trials underway: - **PiNACLE**: Third or later line setting, data expected mid-2027, with BLA submission also in 2027 [4][6] - **PiNACLE-H2H**: First phase 3 head-to-head randomized controlled trial [4][6] - **LYL273**: An enhanced GCC-targeted CAR T-cell candidate for metastatic colorectal cancer - High response rates observed (67% overall response rate) in ongoing U.S. phase 1 trial [20][21] Unique Features - Ronde-cel incorporates CD62L enrichment to select for naive or central memory CAR T-cells, which are associated with better patient outcomes [8][32] - The manufacturing process is scalable and capable of supporting commercial launch, with a capacity of up to 1,200 CAR T-cell doses per year [18] Safety Profile - Ronde-cel has shown no cases of grade 3 or higher cytokine release syndrome (CRS) in treated patients, which is a significant concern in CAR T-cell therapies [17][32] - The safety profile compares favorably to existing therapies, with lower rates of neurotoxicity [18] Additional Important Information - The colorectal cancer market is characterized by a high incidence of metastatic disease, with 150,000 new cases expected in the U.S. annually [19] - Current standard therapies for metastatic colorectal cancer show limited efficacy (6% best overall response rate, 6 months median progression-free survival) [20] - Lyell's approach aims to provide a one-time treatment option that allows patients to return to normal lives [2][19] Milestones and Future Outlook - Cash runway extends into Q2 2027, with multiple clinical milestones expected [29] - Upcoming data updates from both the PiNACLE and LYL273 programs are anticipated in the first and second halves of the year, respectively [29] This summary encapsulates the key points from the Lyell Immunopharma FY Conference Call, highlighting the company's strategic focus, market opportunities, product pipeline, and safety profile.

Core Insights - Lyell Immunopharma, Inc. is a clinical-stage company focused on developing next-generation CAR T-cell therapies for cancer patients [2] Company Overview - Lyell is advancing a pipeline of CAR T-cell therapies targeting both hematologic malignancies and solid tumors [2] - The company employs various technologies to enhance CAR T cells, aiming for durable tumor cytotoxicity and long-lasting clinical responses [2] - Lyell's LyFE Manufacturing Center™ has the capability to manufacture over 1,200 CAR T-cell doses at full capacity, supporting potential commercial launch [2] Upcoming Events - The company will present at the TD Cowen 46 Annual Health Care Conference on March 2, 2026, at 9:10 AM Eastern Time [4] - Lyell will participate in the Leerink Annual Global Healthcare Conference on March 9, 2026, with a fireside chat at 10:00 AM Eastern Time [4] - The company will also be at the Citizens Life Science Conference on March 10, 2026, with a fireside chat scheduled for 11:55 AM Eastern Time [4]