Lyell Immunopharma, Inc.
LYEL · Pharmaceutical Preparations · 23.3M shares · +23%/yr ↑ dilution · EDGAR filings ↗
Net buyback after stock comp: -$35M (gross $12M, SBC $47M)
Reference price $12.64 · est. market cap ~$295M — last insider sale, 2026-06-10 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D44Clinical/early-stage biotech — cell-therapy clinical, heavy burn ($151M), funded.
Strengths
- Liquidity — current ratio 5.3 (61st)
Risks
- Pre-revenue, deep losses — per metrics
- Pre-revenue/clinical-stage — history of losses & need for capital per risk factors
- Binary clinical & funding risk — per 10-K
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Net lossNet loss (net margin -762355.6%)
- Cash burnNegative free cash flow (-150.8M)
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Chronic dilutionShare count +23%/yr over 4y (dilution, book value/share -88%)
- Insider buyingInsider buying — 2 open-market buy(s) by 2 insider(s) (cluster of 2 insiders, ~$25M, last 6mo) Form 4 ↗
- Insider sellingInsider selling — 12 open-market sale(s) by 5 insider(s) (cluster of 5 insiders, ~$304,858, last 6mo) Form 4 ↗
- Revenue declineRevenue -66.7% YoY
- Notable holderHeld by 5 notable fund(s): CITADEL ADVISORS LLC, RENAISSANCE TECHNOLOGIES LLC, GOLDMAN SACHS GROUP INC +2 more (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
-748344.4%
Net margin
-762355.6%
Return on equity
-110.6%
Return on assets
-80.7%
Revenue growth (QoQ)
-66.7%
Current ratio
5.3×
Free cash flow
-$151M
EBITDA
-$258M
Tangible book value
$248M
Cash & investments
$247M
Cash runway
7q
Stock comp / revenue
116191.7%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-15 | Innovative Cellular Therapeutics Holdings Ltd | Other | 66K | — |
| 2026-06-10 | Shook David | Sell | 2.0K | $12.64 |
| 2026-05-11 | Hill Stephen J. | Sell | 89 | $18.92 |
| 2026-05-11 | Seely Lynn | Sell | 388 | $18.91 |
| 2026-05-11 | Bulis Veronica Sanchez | Sell | 217 | $18.91 |
| 2026-05-11 | Lee Gary K. | Sell | 130 | $18.92 |
| 2026-03-06 | ARCH Venture Partners IX, LLC | Buy | 488K | $25.61 |
| 2026-03-06 | ARCH Venture Fund XIII, L.P. | Buy | 488K | $25.61 |
| 2026-02-11 | Lee Gary K. | Sell | 1.7K | $23.39 |
| 2026-02-11 | Hill Stephen J. | Sell | 1.2K | $23.39 |
| 2026-02-11 | Seely Lynn | Sell | 7.5K | $23.39 |
| 2026-02-10 | Bulis Veronica Sanchez | Sell | 254 | $23.12 |
| 2026-02-10 | Bulis Veronica Sanchez | Grant | 8.8K | — |
| 2026-02-10 | Lee Gary K. | Sell | 147 | $23.12 |
| 2026-02-10 | Hill Stephen J. | Sell | 109 | $23.12 |
| 2026-02-10 | Seely Lynn | Sell | 438 | $23.12 |
| 2026-02-09 | Lee Gary K. | Grant | 4.0K | — |
| 2026-02-09 | Seely Lynn | Grant | 20K | — |
| 2026-02-09 | Hill Stephen J. | Grant | 4.0K | — |
| 2025-12-30 | Bulis Veronica Sanchez | Sell | 936 | $32.32 |
| 2025-12-24 | Bulis Veronica Sanchez | Sell | 1.1K | $38.67 |
| 2025-11-10 | Hill Stephen J. | Sell | 95 | $16.12 |
| 2025-11-10 | Bulis Veronica Sanchez | Sell | 239 | $16.10 |
| 2025-11-10 | Lee Gary K. | Sell | 138 | $16.16 |
| 2025-11-10 | Seely Lynn | Sell | 412 | $16.11 |
| 2025-08-21 | Lee Gary K. | Sell | 1.5K | $10.54 |
| 2025-08-21 | Seely Lynn | Sell | 7.3K | $10.54 |
| 2025-08-21 | Hill Stephen J. | Sell | 1.0K | $10.54 |
| 2025-08-21 | Newton Charles W. | Sell | 1.5K | $10.54 |
| 2025-08-20 | Newton Charles W. | Grant | 8.0K | — |
| 2025-08-20 | Hill Stephen J. | Grant | 8.0K | — |
| 2025-08-20 | Lee Gary K. | Grant | 8.0K | — |
| 2025-08-20 | Seely Lynn | Grant | 40K | — |
| 2025-08-12 | Newton Charles W. | Sell | 136 | $10.34 |
| 2025-08-12 | Seely Lynn | Sell | 406 | $10.34 |
| 2025-08-12 | Hill Stephen J. | Sell | 94 | $10.34 |
| 2025-08-12 | Lee Gary K. | Sell | 136 | $10.34 |
| 2025-08-11 | Lee Gary K. | Sell | 131 | $10.53 |
| 2025-08-11 | Hill Stephen J. | Sell | 91 | $10.53 |
| 2025-08-11 | Newton Charles W. | Sell | 131 | $10.53 |
| 2025-08-11 | Seely Lynn | Sell | 391 | $10.53 |
| 2025-06-09 | Shook David | Grant | 22K | — |
| 2025-03-31 | BRAWLEY OTIS W | Buy | 36K | $0.56 |
| 2025-03-21 | Ramachandra Sumant | Buy | 200K | $0.58 |
| 2025-03-17 | Newton Charles W. | Buy | 200K | $0.56 |
| 2025-03-14 | Klausner Richard | Buy | 158K | $0.60 |
| 2025-03-14 | Seely Lynn | Buy | 175K | $0.61 |
| 2025-02-10 | Lang Matthew | Grant | 112K | — |
| 2025-02-10 | Seely Lynn | Grant | 338K | — |
| 2025-02-10 | Hill Stephen J. | Grant | 112K | — |
| 2025-02-10 | Newton Charles W. | Grant | 112K | — |
| 2025-02-10 | Lee Gary K. | Grant | 112K | — |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT07188558 ↗ | A Study to Investigate Ronde-cel Versus Investigator's Choice CD19 CAR T-Cell Therapy Large B-cell Lymphoma, Lymphoma, B-Cell | PHASE3 | Recruiting | 2029-12-01 |
| NCT05826535 ↗ | Study of Rondecabtagene Autoleucel in Aggressive Large B-Cell Lymphoma Relapsed Non-Hodgkin Lymphoma, Refractory Non-Hodgkin Lymphoma | PHASE1/PHASE2 | Recruiting | 2028-12-31 |
| NCT05319314 ↗ | LYL273 for Patients With Relapsed or Refractory mCRC Colorectal Cancer | PHASE1/PHASE2 | Recruiting | 2028-06-01 |
| NCT05891197 ↗ | A Biomarker Screening Protocol for Participants With Solid Tumors Triple Negative Breast Cancer, Non-small Cell Lung Cancer | — | Terminated | 2025-02-05 |
| NCT05573035 ↗ | A Study to Investigate LYL845 in Adults With Solid Tumors Melanoma, Non-small Cell Lung Cancer | PHASE1 | Terminated | 2025-01-09 |
| NCT06153095 ↗ | A Study of IMPT-514 in Active Refractory Lupus Nephritis (LN) and Systemic Lupus Erythematosus (SLE) Systemic Lupus Erythematosus, Lupus Nephritis | PHASE1/PHASE2 | Withdrawn | 2025-01-09 |
| NCT05274451 ↗ | A Study to Investigate LYL797 in Adults With Solid Tumors Triple Negative Breast Cancer, TNBC - Triple-Negative Breast Cancer | PHASE1 | Terminated | 2024-11-27 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-15 | 2026-06-10 | 0001193125-26-271071 ↗ |
| 8-K | 2026-05-06 | 2026-05-06 | 0001628280-26-031269 ↗ |
| 10-Q | 2026-05-06 | 2026-03-31 | 0001628280-26-031284 ↗ |
| 10-K | 2026-03-12 | 2025-12-31 | 0001628280-26-017253 ↗ |
| 8-K | 2026-03-12 | 2026-03-12 | 0001628280-26-017244 ↗ |
| 8-K | 2026-03-09 | 2026-03-06 | 0001193125-26-097615 ↗ |
| 8-K | 2025-12-08 | 2025-12-07 | 0001193125-25-310469 ↗ |
| 8-K | 2025-12-05 | 2025-12-03 | 0001193125-25-309621 ↗ |
| 8-K | 2025-11-12 | 2025-11-12 | 0001628280-25-051603 ↗ |
| 10-Q | 2025-11-12 | 2025-09-30 | 0001628280-25-051619 ↗ |
| 8-K | 2025-11-10 | 2025-11-06 | 0001193125-25-273269 ↗ |
| 8-K | 2025-11-03 | 2025-10-31 | 0001193125-25-261753 ↗ |