Lyell Immunopharma ( (LYEL) ) has provided an announcement.
Following FDA clearance, Lyell Immunopharma’s LyFE manufacturing center in Bothell, Washington, is now producing IMPT-314 for a Phase 1/2 clinical trial targeting relapsed/refractory aggressive large B-cell lymphoma. The company plans to close its West Hills facility, acquired in 2024, resulting in a workforce reduction of approximately 73 employees and expected costs of $3.0 million to $4.0 million. Additionally, Chief Business Officer Matthew Lang announced his resignation, effective April 13, 2025, but will remain as an advisor until September 30, 2025. Lyell maintains its financial guidance, projecting a net cash use of $175 million to $185 million in 2025, ensuring operational runway into 2027.
More about Lyell Immunopharma
Lyell Immunopharma, Inc. operates in the biotechnology industry, focusing on the development of cell therapies for cancer treatment. The company is involved in manufacturing and clinical trials, with a market focus on innovative immunotherapy solutions for aggressive large B-cell lymphoma.
YTD Price Performance: -15.94%
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Technical Sentiment Signal: Buy
Current Market Cap: $158.8M
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