Lyell Immunopharma, Inc.
LYEL evidence brief
What we can confirm
- BioSniper Score:
- 6.0 / 10
- Market Cap:
- $299.0M
- Lead Asset:
- impt-314 (Phase 2)
What it means
What to watch
Prepared research question
What matters most for LYEL—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · LYEL
Lyell Immunopharma, Inc. (LYEL) is a late-stage clinical company developing next-generation CAR T-cell therapies for hematologic malignancies and solid tumors, with a lead program in large B-cell lymphoma and an internal manufacturing facility.
Key risk: No revenue, ongoing losses
BioSniper Score
Based on 4 of 6 signals
Market Cap
$299.0M
Cash Runway
—
Lead Asset
impt-314 (Phase 2)
Next Catalyst
—
Financial data as of Jun 30, 2026.
Tracking 3 pipeline candidates · 4 clinical trials for Lyell Immunopharma, Inc..
Lyell Immunopharma, Inc. (LYEL) is a late-stage clinical company developing next-generation CAR T-cell therapies for hematologic malignancies and solid tumors, with a lead program in large B-cell lymphoma and an internal manufacturing facility.
- Cash & equivalents of $73.0M as of 2026-06-30 [sec].
- Total revenue of $0.0M and net income of -$44.8M as of 2026-06-30 [sec].
- Lead program ronde-cel (CD19/CD20 dual-targeting CAR T) is in Phase 3 trials PiNACLE (3L+ setting) and PiNACLE-H2H (2L setting) [sec_mda · as of 2026-08-06].
- Owns and operates the LyFE Manufacturing Center with expected capacity >1,200 CAR T-cell doses/year [sec_mda · as of 2026-08-06].
- Acquired exclusive global license (ex-China) for LYL273, a GCC-targeted CAR T for solid tumors [sec_mda · as of 2026-08-06].
What works
- Lead program ronde-cel has advanced to Phase 3 pivotal trials (PiNACLE and PiNACLE-H2H), indicating regulatory alignment and clinical progress [sec_mda · as of 2026-08-06].
- Internal manufacturing facility (LyFE) is operational and expected to support both clinical and commercial supply with >1,200 doses/year capacity [sec_mda · as of 2026-08-06].
- Dual-targeting CD19/CD20 approach may offer differentiation versus approved first-generation CD19 CAR T products [sec_mda · as of 2026-08-06].
What to weigh
- No revenue generated to date; net loss of $44.8M in the latest quarter (as of 2026-06-30) [sec].
- Cash position of $73.0M (as of 2026-06-30) may be limited relative to the capital required to complete multiple Phase 3 trials and potential BLA submission [sec].
- Solid tumor program LYL273 is early-stage (Phase 1/2) and relies on clinical proof-of-concept from an investigator-sponsored trial in China [sec_mda · as of 2026-08-06].
- PiNACLE-H2H is a head-to-head Phase 3 trial against approved CAR T therapies (axi-cel, liso-cel), which carries execution and competitive risk [sec_mda · as of 2026-08-06].
From the filings
Quoted directly from source documents.
LyFE manufacturing capacity
“We expect LyFE to have the capacity to manufacture more than 1,200 CAR T-cell doses/year.”
SEC MD&A · August 6, 2026
PiNACLE-H2H trial design
“Patients are randomized to either ronde-cel or investigator's choice of axicabtagene ciloleucel (axi-cel) or lisocabtagene maraleucel (liso-cel).”
SEC MD&A · August 6, 2026
LYL273 license and target
“we acquired an exclusive global license for LYL273 (excluding mainland China, Hong Kong, Macau and Taiwan), a guanylyl cyclase C (GCC)-targeted CAR T-cell product candidate”
SEC MD&A · August 6, 2026
Catalyst timeline
- 2022-08-01 · Phase 2 start for LYL273 in metastatic colorectal cancer — A Phase 1/2 study evaluating LYL273 in patients with relapsed/refractory metastatic colorectal cancer.
- 2023-05-09 · Phase 2 start for ronde-cel in aggressive B-cell NHL — A Phase 1/2 study of ronde-cel (CD19/CD20 dual-targeting CAR T) in aggressive B-cell non-Hodgkin lymphoma.
- 2026-01-12 · Phase 3 start for ronde-cel in large B-cell lymphoma (2L setting) — PiNACLE-H2H: a randomized controlled trial of ronde-cel vs investigator's choice of CD19 CAR T in second-line large B-cell lymphoma.
Risks & what to watch (4)›
Key risks
- No revenue, ongoing losses — Zero revenue and net loss of $44.8M in latest quarter (2026-06-30) [sec].
- Cash runway uncertainty — Cash of $73.0M (2026-06-30) may be insufficient to complete multiple Phase 3 trials [sec].
- Phase 3 head-to-head risk — PiNACLE-H2H pits ronde-cel against two approved CAR T therapies, increasing trial risk [sec_mda · as of 2026-08-06].
- Solid tumor program early stage — LYL273 is in Phase 1/2 with proof-of-concept from a single investigator-sponsored trial in China [sec_mda · as of 2026-08-06].
What to watch
- PiNACLE-H2H enrollment progress and event-free survival data [sec_mda · as of 2026-08-06].
- PiNACLE pivotal data expected mid-2027 and BLA submission in second half of 2027 [sec_mda · as of 2026-08-06].
- Phase 1/2 data presentations for ronde-cel at upcoming medical meetings (e.g., EHA 2026) [news · published 2026-06-04].
- Cash burn rate and any new financing or partnership activities [sec].
Sources: Catalysts · News · SEC filings · SEC MD&A · Generated October 13, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 4 of 6 signals · derived from public data
Cash runway data unavailable
D/E 0.33 · 0% dilution
Lead: Phase 3
3 candidates
No upcoming catalysts tracked
0 buys · 14 sells (180d)
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
73
Total value held
$237.0M
| Holder | Shares | Value |
|---|---|---|
| arch venture management, llc | 3,247,162 | $65.1M |
| gsk plc | 1,512,659 | $30.3M |
| foresite capital management iv, llc | 800,399 | $16.1M |
| orland properties ltd | 754,698 | $15.1M |
| vanguard capital management llc | 718,155 | $14.4M |
| almitas capital llc | 577,807 | $11.6M |
| foresite capital management v, llc | 477,078 | $9.6M |
| millennium management llc | 458,905 | $9.2M |
| citadel advisors llc | 381,462 | $7.7M |
| venbio partners llc | 337,697 | $6.8M |
Showing top 10 of 73 institutional holders of Lyell Immunopharma, Inc.. Open the full 13F history after sign-in.
Short Interest
as of May 21, 2026- % of float
- 6.8%
- Days to cover
- 15.4
- Shares short
- 1,344,189
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
LYEL short interestGovernance
Frequently asked questions
What is the AI investment thesis for Lyell Immunopharma, Inc.?
Lyell Immunopharma, Inc. (LYEL) is a late-stage clinical company developing next-generation CAR T-cell therapies for hematologic malignancies and solid tumors, with a lead program in large B-cell lymphoma and an internal manufacturing facility.
What is Lyell Immunopharma, Inc.'s lead drug candidate?
Lyell Immunopharma, Inc.'s most advanced tracked candidate is impt-314 (Phase 2) for Relapsed/refractory aggressive large B-cell lymphoma.
Who is the CEO of Lyell Immunopharma, Inc.?
Dr. Lynn Seely M.D., Ph.D. is the chief executive officer of Lyell Immunopharma, Inc. (LYEL).
Where is Lyell Immunopharma, Inc. headquartered?
Lyell Immunopharma, Inc. (LYEL) is headquartered in South San Francisco, CA, United States.
What therapeutic areas does Lyell Immunopharma, Inc. focus on?
Lyell Immunopharma, Inc. develops therapies across Oncology, Gene Therapy.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.