Lyell Immunopharma 2025 Q3 Earnings 38.8% EPS Improvement Amid Continued Losses

Lyell Immunopharma reported narrowed losses in Q3 2025, with a 38.8% reduction in per-share losses to $2.13, compared to $3.48 in the prior-year quarter. The company also reduced its net loss by 12.9% to $38.85 million, though it remains in a six-year loss streak. Management highlighted cash runway sufficiency through 2027, aligning with revised guidance.

Revenue

The total revenue of Lyell Immunopharma decreased by 55.9% to $15,000 in 2025 Q3, down from $34,000 in 2024 Q3.

Earnings/Net Income

Lyell Immunopharma narrowed losses to $2.13 per share in 2025 Q3 from a loss of $3.48 per share in 2024 Q3 (38.8% improvement). Meanwhile, the company successfully narrowed its net loss to $-38.85 million in 2025 Q3, reducing losses by 12.9% compared to the $-44.58 million net loss reported in 2024 Q3. The reduction in losses reflects cost-cutting measures, with R&D expenses declining 28.2% to $28.2 million and G&A expenses falling 9.7% to $10.7 million. However, the company has sustained losses for 6 consecutive years, underscoring persistent financial challenges.

Price Action

The stock price of Lyell Immunopharma has edged up 1.61% during the latest trading day, has climbed 6.59% during the most recent full trading week, and has climbed 4.75% month-to-date.

Post-Earnings Price Action Review

The strategy of buying Lyell Immunopharma (LYEL) shares on the date of its revenue raise and holding for 30 days yielded positive returns. The approach achieved an average gain of 12.5% over three years, with the highest return occurring in the first year at 18.3%. This suggests that LYEL's stock price responded favorably to positive earnings announcements, making it a potentially viable option for investors looking to capitalize on company-specific positive news.

CEO Commentary

Lynn Seely, MD, President and CEO of Lyell Immunopharma, emphasized the company’s strong position with two next-generation CAR T-cell candidates, ronde-cel and LYL273, highlighting their promising clinical data. She noted the initiation of PiNACLE – H2H, a Phase 3 head-to-head trial for ronde-cel in the 2L setting, and the acquisition of LYL273’s global rights for mCRC. Seely expressed confidence in leveraging Lyell’s clinical expertise and commercial-ready manufacturing to advance pivotal programs, including presenting new ronde-cel data at ASH 2025. The tone was optimistic, underscoring momentum in clinical development and strategic execution.

Guidance

Lyell expects to enroll patients in PiNACLE – H2H by early 2026, with data from the PiNACLE trial supporting a 2027 Biologics License Application for 3L+ LBCL. Updated LYL273 Phase 1 data is anticipated in H1 2026, while an IND for a solid tumor-targeting CAR T candidate is planned for 2026. The company anticipates current cash balances of $320 million will fund operations through key clinical milestones into 2027. Forward-looking statements include RMAT designation benefits, trial enrollment timelines, and the potential for improved outcomes with its dual-targeting and GCC-directed therapies.

Additional News

Lyell Immunopharma announced the acquisition of LYL273, a GCC-targeted CAR T-cell therapy for metastatic colorectal cancer, from Innovative Cellular Therapeutics. The deal includes an upfront payment of $40 million, 1.9 million shares, and up to $820 million in milestone payments. The company also initiated the PiNACLE – H2H Phase 3 trial for ronde-cel in aggressive large B-cell lymphoma, with enrollment expected to begin in early 2026. Additionally, Lyell secured $100 million in equity financing, with an initial $50 million closed in July 2025, to fund pivotal trials and extend cash runway into mid-2027.