How did LYEL's Q4 earnings surprise investors?

Lyell Immunopharma's (LYEL) Q4 earnings report disappointed investors due to a significant decline in net income and revenue compared to the previous year, along with a decrease in the diluted EPS growth rate.

1. **Significant Net Income Loss**: The company reported a net loss of $191.94 million for Q4 2024, which is a substantial decrease from the net income of $0.02 million reported in the same period the previous year. This indicates a sharp deterioration in the company's financial performance.

|code|Ticker|Name|Date|Total Revenue|Net Income|Diluted EPS|market_code|
|---|---|---|---|---|---|---|---|
|LYEL|LYEL.O|Lyell Immunopharma|2024 Q1|3000|-6.0667E7|-0.24|185|
|LYEL|LYEL.O|Lyell Immunopharma|2024 Q2|13000|-4.5809E7|-0.18|185|
|LYEL|LYEL.O|Lyell Immunopharma|2024 Q3|34000|-4.4583E7|-0.17|185|
|LYEL|LYEL.O|Lyell Immunopharma|2024 Q4|11000|-1.91935E8||185|

2. **Decline in Total Revenue**: The total revenue for Q4 2024 was $11000, which is a decrease from the revenue of $0.02 million recorded in the same quarter the previous year. This reduction in revenue further highlights the company's challenging financial situation.
3. **Negative EPS Growth Rate**: The diluted EPS growth rate for Q4 2024 was -0.04%, indicating a contraction in earnings per share compared to the previous year. This negative growth rate contributes to the overall negative sentiment surrounding the earnings report.

|code|Ticker|Name|Date|Net Income YoY|Total Revenue YoY|Diluted EPS YoY|market_code|
|---|---|---|---|---|---|---|---|
|LYEL|LYEL.O|Lyell Immunopharma|2024 Q1|9.396795053689571|-95.38461538461539|11.11111111111112|185|
|LYEL|LYEL.O|Lyell Immunopharma|2024 Q2|28.30020347472218|-51.85185185185185|30.769230769230777|185|
|LYEL|LYEL.O|Lyell Immunopharma|2024 Q3|12.329656067488644|36|15|185|
|LYEL|LYEL.O|Lyell Immunopharma|2024 Q4|-262.62044209333084|-15.384615384615385||185|

Investors' reactions to the Q4 earnings report were likely influenced by these disappointing financial results, leading to a surge in investor interest following a positive analyst report from HC Wainwright.