Financial Performance - Lyell reported a net loss of $191.9 million for Q4 2024, compared to a net loss of $52.9 million in Q4 2023, and a full-year net loss of $343.0 million versus $234.6 million in 2023[9] - Revenue for Q4 2024 was $11,000, a decrease of 15.4% compared to $13,000 in Q4 2023[17] - Non-GAAP net loss for Q4 2024 was $45,867,000, compared to $43,938,000 in Q4 2023, indicating a slight increase of 4.4%[21] - Total operating expenses for Q4 2024 were $201,158,000, significantly higher than $59,521,000 in Q4 2023, primarily due to acquired in-process research and development expenses of $87,184,000[17] - Operating expenses for Q4 2024 included $87.2 million in acquired in-process research and development expenses and a $51.3 million impairment charge for long-lived assets[15] Cash and Assets - The company has cash, cash equivalents, and marketable securities of $383.5 million as of December 31, 2024, down from $562.7 million at the end of 2023, which is expected to support operations into 2027[12] - Cash, cash equivalents, and marketable securities decreased to $383,541,000 as of December 31, 2024, down from $562,729,000 in 2023[18] - Total assets decreased to $490,859,000 as of December 31, 2024, from $750,029,000 in 2023, a decline of 34.5%[18] Research and Development - Research and development (R&D) expenses for Q4 2024 were $48.7 million, an increase from $47.0 million in Q4 2023, while full-year R&D expenses decreased to $171.6 million from $182.9 million[15] - Research and development expenses on a GAAP basis for 2024 were $171,603,000, down from $182,945,000 in 2023, a decrease of 6.2%[23] - The ongoing Phase 1/2 trial of IMPT-314 is designed to evaluate tolerability and clinical benefit, with more mature data expected to be shared in mid-2025[10] - IMPT-314, a next-generation dual-targeting CAR T-cell product candidate, is in Phase 1/2 clinical development for relapsed or refractory aggressive large B-cell lymphoma, with an overall response rate of 94% reported in initial data from 23 patients[10] - A new IND submission for a next-generation solid tumor CAR T-cell product candidate is expected in 2026, utilizing proprietary anti-exhaustion technology[3] - The pivotal trial for IMPT-314 in the 3rd line and later setting is expected to be initiated in mid-2025, with a second pivotal trial in the 2nd line setting anticipated by early 2026[6] General and Administrative Expenses - General and administrative (G&A) expenses for Q4 2024 were $14.5 million, compared to $13.2 million in Q4 2023, with full-year G&A expenses decreasing to $52.0 million from $67.0 million[15] - General and administrative expenses on a GAAP basis for 2024 were $52,041,000, a decrease of 22.5% from $66,983,000 in 2023[26] Impairment and Acquisitions - The company recognized impairment of long-lived assets amounting to $51,297,000 in Q4 2024[17] - The company acquired ImmPACT Bio, which strengthened its clinical pipeline with the addition of IMPT-314[6] Future Outlook - The company plans to continue focusing on research and development to enhance its product pipeline and market position[19]

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]

Group 1 - Lyell Immunopharma, Inc. is a clinical-stage company focused on developing next-generation CAR T-cell therapies for cancer patients [1][2] - The company utilizes advanced technologies to enhance CAR T cells, enabling them to resist exhaustion and function effectively in challenging tumor microenvironments [2] - Upcoming investor conferences include the H.C. Wainwright 3rd Annual Cell Therapy Virtual Conference on February 25 and TD Cowen's 45th Annual Health Care Conference on March 3 [3] Group 2 - The company is headquartered in South San Francisco, California, with additional facilities in West Hills, California, and Seattle and Bothell, Washington [2] - A live webcast of the presentations will be available on the company's website, with replays accessible afterward [1]

Core Viewpoint - Lyell Immunopharma (LYEL) has been upgraded to a Zacks Rank 1 (Strong Buy) due to an upward trend in earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Impact - The Zacks rating system emphasizes the importance of changing earnings estimates, which are closely correlated with near-term stock price movements [4][6]. - Rising earnings estimates for Lyell Immunopharma indicate an improvement in the company's underlying business, likely leading to increased stock prices as investors respond positively [5][10]. Earnings Estimate Revisions - For the fiscal year ending December 2024, Lyell Immunopharma is expected to earn -$0.78 per share, reflecting a year-over-year change of 16.1% [8]. - Over the past three months, the Zacks Consensus Estimate for Lyell Immunopharma has increased by 22.6%, indicating a positive trend in earnings expectations [8]. Zacks Rank System - The Zacks Rank system classifies stocks based on earnings estimate revisions, with only the top 5% receiving a 'Strong Buy' rating, highlighting Lyell Immunopharma's strong position in this regard [9][10]. - Historically, Zacks Rank 1 stocks have generated an average annual return of +25% since 1988, underscoring the effectiveness of the rating system [7].

Core Insights - Lyell Immunopharma is advancing its pipeline of next-generation CAR T-cell therapies, specifically focusing on IMPT-314 for aggressive large B-cell lymphoma, which is set to enter pivotal trials [1][2][4] Pipeline Focus - The company is dedicated to developing CAR T-cell therapies that aim to achieve higher response rates and longer durations of response for patients with hematologic malignancies and solid tumors [3] - IMPT-314 is designed to target B-cells expressing either CD19, CD20, or both, utilizing a dual-targeting approach to enhance treatment efficacy compared to existing therapies [4][12] Clinical Data and Development Plans - Initial clinical data from 23 patients indicated an overall response rate of 94% and a complete response rate of 71% in the 3rd-line+ setting, with a median follow-up of 6.3 months [14] - The company plans to initiate pivotal trials for IMPT-314 in the 3rd-line+ setting in 2025 and in the 2nd line by early 2026 [6][17] Financial Outlook - Lyell expects a net cash use of $175 million to $185 million for 2025, which will extend its cash runway into 2027, supporting multiple clinical milestones [9] - The company is streamlining operations and discontinuing the development of LYL119 to focus resources on IMPT-314 and next-generation solid tumor CAR T-cell programs [8] Upcoming Milestones - Additional data from the ongoing Phase 1-2 trial is expected to be presented in mid-2025, including more mature data from the 3rd line+ cohort and initial data from the 2nd line cohort [7] - The first IND application for a new solid tumor CAR T-cell product candidate is anticipated to be submitted in 2026 [8]

Core Viewpoint - Lyell Immunopharma (LYEL) has experienced significant selling pressure, resulting in a 31.2% decline in stock price over the past four weeks, but analysts anticipate improved earnings in the near future [1]. Group 1: Stock Performance and Technical Analysis - The stock is currently in oversold territory, indicated by an RSI reading of 28.44, suggesting that the heavy selling may be exhausting itself [5]. - The Relative Strength Index (RSI) is a momentum oscillator that helps identify oversold conditions when the reading falls below 30 [2]. - Technical analysis indicates that stocks oscillate between overbought and oversold states, and the RSI can signal potential price reversals [3]. Group 2: Earnings Estimates and Analyst Sentiment - There has been a consensus among sell-side analysts to raise earnings estimates for LYEL, resulting in a 0.9% increase in the consensus EPS estimate over the last 30 days [7]. - LYEL holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, indicating a potential turnaround [8].

Core Viewpoint - Lyell Immunopharma (LYEL) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive outlook driven by rising earnings estimates, which significantly influence stock prices [1][3]. Earnings Estimates and Stock Performance - The Zacks rating system emphasizes the importance of earnings estimate revisions, which are strongly correlated with near-term stock price movements [4][6]. - For the fiscal year ending December 2024, Lyell Immunopharma is projected to earn -$0.80 per share, reflecting a 14% change from the previous year's reported figure [8]. - Over the past three months, the Zacks Consensus Estimate for Lyell Immunopharma has increased by 6.3%, indicating a positive trend in earnings expectations [8]. Institutional Investor Influence - Institutional investors play a role in the relationship between earnings estimates and stock price movements, as they adjust their valuations based on these estimates, leading to significant buying or selling actions [4]. Zacks Rank System - The Zacks Rank system categorizes stocks into five groups based on earnings estimates, with Zacks Rank 1 (Strong Buy) stocks historically generating an average annual return of +25% since 1988 [7]. - The upgrade of Lyell Immunopharma to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, suggesting potential for market-beating returns in the near term [10].

Exhibit 99.1 Lyell Immunopharma Reports Business Highlights and Financial Results for the Third Quarter 2024 • Acquired ImmPACT Bio and strengthened clinical pipeline with the addition of IMPT-314, a dual-targeting CD19/CD20 CAR T-cell product candidate with strong Phase 1 clinical data in patients with aggressive relapsed/refractory B-cell nonHodgkin's lymphoma • Presenting initial data from Phase 1 multi-center clinical trial of IMPT-314 at the American Society of Hematology 2024 (ASH) Annual Meeting • Pr ...

Acquisition strengthens Lyell’s clinical pipeline with the addition of IMPT-314, a dual-targeting CD19/CD20 CAR T-cell product candidate expected to initiate pivotal development in 2025 in patients in the 3rd line setting with B-cell non-Hodgkin lymphoma who have not yet been exposed to CAR T-cell therapySumant Ramachandra, M.D., Ph.D., MBA, appointed to Lyell’s Board of Directors SOUTH SAN FRANCISCO, Calif., Oct. 31, 2024 (GLOBE NEWSWIRE) --  Lyell Immunopharma, Inc. (Nasdaq: LYEL), a clinical-stage T-cell ...

Company Overview - Lyell Immunopharma is a clinical-stage T-cell reprogramming company focused on developing cell therapies for solid tumors and hematologic malignancies [3] - The company has three product candidates in or entering Phase 1 clinical development [3] - Lyell's proprietary technology addresses T-cell exhaustion and lack of durable stemness to improve clinical outcomes [3] - The company is headquartered in South San Francisco, California with additional facilities in Seattle and Bothell, Washington [3] Upcoming Event - Lyell's President & CEO, Lynn Seely, MD, will participate in a panel discussion on next-generation cell therapies in oncology at Goldman Sachs Cell Therapy Day on October 1, 2024, at 11:50 a.m. ET [1] - A webcast of the presentation will be available on the company's website, with a replay accessible after the live event [2]