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# Lyell Prices $80.0 Million Stock Sale At $10.77 A Share, Less Than Half March's $25.61
- URL: https://www.bullished.co/lyell-prices-80-0-million-stock-sale-at-10-77-a-share-less-than-half-marchs-25-61-fd4951d5/
- Published: 2026-11-04T22:49:17.000Z
- Updated: 2026-11-04T22:49:17.000Z
- Description: The cell-therapy developer's 10-Q drops a dated cash-runway line as a private placement follows a March tranche priced at $25.61.
- Author: Matteo Parrino
- Tags: SEC Filings, LYEL, Industry: Healthcare

[Lyell Immunopharma](https://www.bullished.co/tag/lyel/), a late-stage clinical company developing CAR T-cell cancer therapies, agreed to sell [7,428,040 shares at $10.77 each](https://www.sec.gov/Archives/edgar/data/0001806952/000119312526446317/d158628d8k.htm?ref=bullished.co) in a private placement for about $80.0 million, against $25.61 a share in its March 2026 raise. Its [10-Q](https://www.sec.gov/Archives/edgar/data/0001806952/000162828026070171/lyel-20260930.htm?ref=bullished.co), filed Wednesday, also no longer says cash will last into the third quarter of 2027.

## A dated runway becomes a vaguer one

The [prior quarterly filing](https://www.sec.gov/Archives/edgar/data/0001806952/000162828026054367/lyel-20260630.htm?ref=bullished.co) said existing cash would cover needs "into the third quarter of 2027." That sentence is gone. The new 10-Q says only that cash should last "for at least the next 12 months."

The [earnings release](https://www.sec.gov/Archives/edgar/data/0001806952/000162828026070161/lyel-20261104x8kexx991.htm?ref=bullished.co) gives a longer horizon: cash plus net placement proceeds should fund operations "into 2028," beyond the planned license application for ronde-cel in the second half of 2027.

Cash, cash equivalents and marketable securities stood at $194.0 million on September 30, against $247.2 million at December 31, 2025\. Net cash used in operations was $107.0 million for the first nine months.

## Three raises, falling prices

Lyell sold shares at $13.32 in July 2025 and at $25.61 in March 2026, each round bringing in about $50.0 million. The November deal prices shares at $10.77\. The company also sold 65,092 shares through its at-the-market program in the first nine months of 2026, for about $1.7 million.

The closing was scheduled for on or about November 4\. Lyell must file a resale registration statement within 30 days of closing, and cash penalties apply if it fails.

Research and development spending rose to $40.9 million in the third quarter from $28.2 million a year earlier, up $12.7 million on more clinical trial activity. General and administrative costs fell to $9.3 million from $10.7 million. The quarterly net loss was [$45.5 million](https://www.wusa9.com/article/syndication/associatedpress/lyell-immunopharma-q3-earnings-snapshot/616-e9ca80a8-20d5-4c60-b33a-9f3b12466e67?ref=bullished.co), against $38.8 million.

## What the money funds

Ronde-cel, Lyell's lead candidate, targets both CD19 and CD20 on lymphoma cells. It is in a single-arm pivotal trial, PiNACLE, and a Phase 3 head-to-head trial. Pivotal data are expected in mid-2027, with a license application to follow in the second half of 2027.

In the 3L+ cohort, 44 efficacy-evaluable patients showed a 91% overall response rate and a 77% complete response rate, according to the 10-Q. Updated data go to the American Society of Hematology meeting on December 12–15, 2026.

The ASH presentations of updated ronde-cel data run December 12–15, 2026, and the resale registration is due within 30 days of the November 4 closing.

### Sources

- [10-Q Filing — Lyell Immunopharma (LYEL)](https://www.sec.gov/Archives/edgar/data/0001806952/000162828026070171/lyel-20260930.htm?ref=bullished.co) — SEC EDGAR
- [10-Q Filing — Lyell Immunopharma (LYEL), Q2 FY2026 filed 2026-08-06 (comparison basis)](https://www.sec.gov/Archives/edgar/data/0001806952/000162828026054367/lyel-20260630.htm?ref=bullished.co) — SEC EDGAR
- [8-K Filing — Lyell Immunopharma, filed 2026-11-04 (Items 3.02)](https://www.sec.gov/Archives/edgar/data/0001806952/000119312526446317/d158628d8k.htm?ref=bullished.co) — SEC EDGAR
- [Earnings release (8-K Item 2.02, lyel-20261104x8kexx991.htm) — Lyell Immunopharma, filed 2026-11-04](https://www.sec.gov/Archives/edgar/data/0001806952/000162828026070161/lyel-20261104x8kexx991.htm?ref=bullished.co) — SEC EDGAR
- [Lyell Immunopharma: Q3 Earnings Snapshot | wusa9.com](https://www.wusa9.com/article/syndication/associatedpress/lyell-immunopharma-q3-earnings-snapshot/616-e9ca80a8-20d5-4c60-b33a-9f3b12466e67?ref=bullished.co) — Associated Press
- [Lyell Immunopharma Reports Business Highlights and](https://www.globenewswire.com/news-release/2026/11/04/3395800/0/en/lyell-immunopharma-reports-business-highlights-and-financial-results-for-the-third-quarter-2026.html?ref=bullished.co) — globenewswire.com
- [Lyell Immunopharma Announces $80 Million Private Placement](https://www.globenewswire.com/news-release/2026/11/04/3395403/0/en/lyell-immunopharma-announces-80-million-private-placement-to-advance-ronde-cel-toward-planned-bla-submission.html?ref=bullished.co) — globenewswire.com
- [Lyell Immunopharma to Present Positive Updated Ronde-Cel](https://www.globenewswire.com/news-release/2026/11/04/3395393/0/en/lyell-immunopharma-to-present-positive-updated-ronde-cel-data-in-more-than-80-patients-at-ash-2026-from-pinacle-pivotal-trial-in-3l-and-from-phase-1-2-2l-cohort-in-patients-with-re.html?ref=bullished.co) — globenewswire.com
- [Lyell Immunopharma To Participate in November Investor](https://www.globenewswire.com/news-release/2026/11/02/3393085/0/en/lyell-immunopharma-to-participate-in-november-investor-events.html?ref=bullished.co) — globenewswire.com

### More on Lyell Immunopharma

- [Lyell's Lymphoma CAR-T Shows 77% Complete Responses, While Quarterly Loss Widens To $45.5 Million](https://www.bullished.co/lyells-lymphoma-car-t-shows-77-complete-responses-while-quarterly-loss-widens-to-45-5-8787511b/)
- [Lyell Immunopharma Sells $80 Million Of Stock At $10.77 A Share To Fund Ronde-Cel](https://www.bullished.co/lyell-immunopharma-sells-80-million-of-stock-at-10-77-a-share-to-fund-ronde-cel-af1c6f6f/)

[All Lyell Immunopharma (LYEL) coverage →](https://www.bullished.co/tag/lyel/)