Lyell Prices $80.0 Million Stock Sale At $10.77 A Share, Less Than Half March's $25.61
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.
Lyell Immunopharma, a late-stage clinical company developing CAR T-cell cancer therapies, agreed to sell 7,428,040 shares at $10.77 each in a private placement for about $80.0 million, against $25.61 a share in its March 2026 raise. Its 10-Q, 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 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 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, 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) — SEC EDGAR
- 10-Q Filing — Lyell Immunopharma (LYEL), Q2 FY2026 filed 2026-08-06 (comparison basis) — SEC EDGAR
- 8-K Filing — Lyell Immunopharma, filed 2026-11-04 (Items 3.02) — SEC EDGAR
- Earnings release (8-K Item 2.02, lyel-20261104x8kexx991.htm) — Lyell Immunopharma, filed 2026-11-04 — SEC EDGAR
- Lyell Immunopharma: Q3 Earnings Snapshot | wusa9.com — Associated Press
- Lyell Immunopharma Reports Business Highlights and — globenewswire.com
- Lyell Immunopharma Announces $80 Million Private Placement — globenewswire.com
- Lyell Immunopharma to Present Positive Updated Ronde-Cel — globenewswire.com
- Lyell Immunopharma To Participate in November Investor — globenewswire.com
