Lyell Immunopharma Secures $100M, Reports Promising LYL314 Results, and Cuts Net Loss in Q2 2025

Lyell Immunopharma reported promising results for its lead therapy, LYL314, achieving an 88% overall response rate and 72% complete response rate in third-line or later patients with large B-cell lymphoma. The company secured a $100 million private placement to support clinical trials and operations through mid-2027 and reported a reduced net loss of $42.7 million in Q2 2025, an improvement from the previous year.

Lyell Immunopharma, Inc. (Nasdaq: LYEL), a late-stage clinical company advancing next-generation CAR T-cell therapies, recently reported significant advancements in its lead therapy, LYL314. The company presented positive clinical data demonstrating high rates of durable complete responses from a Phase 1/2 trial of LYL314 for the treatment of aggressive large B-cell lymphoma (LBCL). Additionally, Lyell reported financial results for the second quarter ended June 30, 2025, including a reduced net loss and a substantial private placement to support clinical trials and operations.

Clinical Highlights

LYL314, a next-generation dual-targeting CD19/CD20 CAR T-cell product candidate, achieved an 88% overall response rate and a 72% complete response rate in third-line or later (3L+) patients with large B-cell lymphoma. The efficacy data, presented at the 18th International Conference on Malignant Lymphoma in Lugano, Switzerland, in June, showed that 71% of patients with complete response remained in complete response at ≥ 6 months. The company has initiated the PiNACLE pivotal trial of LYL314 in patients with LBCL receiving treatment in the 3L+ setting and remains on track to initiate a pivotal trial in the second-line (2L) setting by early 2026.

Financial Results

Lyell reported a net loss of $42.7 million for the second quarter ended June 30, 2025, an improvement from the previous year's net loss of $45.8 million. The decrease in net loss was primarily due to a decrease in stock-based compensation expense resulting from lower headcount and the reduced value of new equity awards. Non-GAAP net loss, which excludes stock-based compensation and certain non-cash expenses, decreased to $37.8 million compared to $39.1 million in the same period last year.

Private Placement and Funding

In July, Lyell entered into a securities purchase agreement for a private placement with certain institutional and other accredited investors, securing gross proceeds of up to approximately $100 million. The initial closing of approximately $50 million of common stock at a price of $13.32 per share occurred on July 25, 2025. The net proceeds from the private placement, along with existing cash, cash equivalents, and marketable securities, will be used to advance two pivotal-stage clinical trials of LYL314 and working capital for other general corporate purposes.

Future Outlook

Lyell's lead program, LYL314, is in pivotal development for patients with relapsed and/or refractory (R/R) LBCL, and its preclinical programs target solid tumor indications. The company is expected to present more mature data from the ongoing Phase 1/2 trial in the 2L setting in late 2025. A Phase 3 randomized controlled trial of LYL314 is expected to be initiated by early 2026 in patients receiving treatment in the 2L setting with R/R LBCL.

Conclusion

Lyell Immunopharma's recent clinical data and financial results demonstrate significant progress in its lead therapy, LYL314, and its pipeline of next-generation CAR T-cell therapies. The company's private placement will provide the necessary funding to support further clinical development and operations through mid-2027.

References

[1] https://ir.lyell.com/news-releases/news-release-details/lyell-immunopharma-reports-business-highlights-and-financial-9