Lyell Immunopharma Reports Business Highlights and Financial Results for the First Quarter 2025

Core Insights - Lyell Immunopharma, Inc. reported financial results and business highlights for Q1 2025, focusing on its lead clinical program LYL314, a CAR T-cell therapy for relapsed and/or refractory large B-cell lymphoma (LBCL) [1][2][3] Financial Performance - The company reported a net loss of $52.2 million for Q1 2025, an improvement from a net loss of $60.7 million in Q1 2024, primarily due to the absence of impairment expenses recognized in the prior year [8][18] - Cash, cash equivalents, and marketable securities totaled $330.1 million as of March 31, 2025, down from $383.5 million at the end of 2024, which is expected to support operations into 2027 [12][19] Clinical Development - LYL314 has received RMAT designation from the FDA, indicating its potential to address significant unmet needs in aggressive LBCL [4][5] - The company plans to present new clinical data for LYL314 at the International Conference on Malignant Lymphoma in June 2025, with pivotal trials expected to start in mid-2025 for the third- or later-line setting and early 2026 for the second-line setting [2][5][6] Research and Development - R&D expenses for Q1 2025 were $43.4 million, slightly up from $43.2 million in Q1 2024, driven by increased personnel costs related to workforce reductions [15][18] - The company is advancing a pipeline of next-generation CAR T-cell therapies, with a focus on overcoming T-cell exhaustion and enhancing durability in hostile tumor environments [7][13] Manufacturing Capabilities - The LyFE Manufacturing Center in Bothell, Washington, is now producing clinical supplies for LYL314 following successful technology transfer and FDA clearance [5][9] - The facility has the capacity to manufacture over 1,000 CAR T-cell therapy doses per year, supporting ongoing and planned pivotal trials [9][19]