Lyell Immunopharma Q3 net loss widens on higher R&D spending

Overview

• CAR T-cell therapy developer's Q3 revenue beat analyst expectations

• Adjusted net loss for Q3 beat analyst estimates, despite higher R&D expenses

• Company announced $80 mln private placement to extend cash runway into 2028

Outlook

• Company expects pivotal data from PiNACLE trial in mid-2027, BLA submission in H2 2027

• Additional clinical data and End-of-Phase 1 meeting for LYL273 expected in 2027

• Company expects cash and equivalents to fund operations into 2028

Result Drivers

• HIGHER R&D SPENDING - Co said increased net loss was primarily due to higher research and development expenses driven by increased clinical trial activity

• CLINICAL TRIAL PROGRESS - Co attributed increased R&D costs to expanded research activities, collaborations and outside services as clinical trials advanced

• LOWER INTEREST INCOME - Co said non-GAAP net loss also increased due to lower interest income

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", no "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy"

• Wall Street's median 12-month price target for Lyell Immunopharma, Inc. is $41.50, about 285.3% above its November 3 closing price of $10.77

Reuters Recommended Reads

• Nov 4 - Seres Therapeutics Q3 net loss widens on impairment charge

• Nov 4 - Viridian posts first Lumvoa revenue but net loss widens

• Nov 4 - BioCryst Q3 revenue rises 13% on ORLADEYO sales

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)