NASDAQ$LYEL
Lyell Immunopharma Inc · Q4 2025 earnings
Q4 2025 earnings · · After market close · Investor relations
Briefing
Lyell Immunopharma reported Q4 2025 net loss of $140.7M as PiNACLE-H2H dosing began and LYL273 advanced.
For the quarter ended December 31, 2025, Lyell posted revenue of $6,000 and a net loss of $140.7 million, including $66.3 million of acquired IPR&D from the LYL273 license and $19.7 million of stock-based compensation tied to a license milestone. Non-GAAP net loss was $33.1 million. Cash, cash equivalents, and marketable securities were $247.2 million excluding a $50M tranche received in March 2026.
- Patient dosing commenced in February 2026 in the PiNACLE-H2H Phase 3 head-to-head CAR T trial.
- Seven new LYL273 mCRC patients treated without DLT, including escalation to Dose Level 3.
- Q4 net loss of $140.7M included $66.3M LYL273 IPR&D and $19.7M stock comp milestone.
- Non-GAAP Q4 net loss narrowed to $33.1M on lower R&D headcount post ronde-cel tech transfer.
- Cash runway expected into Q2 2027 through key clinical milestones.
Headline financials
Revenue & EPS history
Lyell Immunopharma · Revenue · Quarterly
$6K
Forward guidance
Management expects PiNACLE pivotal data mid-2027 supporting a BLA, continued PiNACLE-H2H enrollment, and LYL273 dose-finding toward a recommended Phase 2 dose.
Tailwinds
- Second $50M equity tranche closed in March 2026 after clinical milestone achievement.
- Ronde-cel showed 93% ORR and 76% CR in 3L+ LBCL per ASH 2025 update.
Headwinds
- Heavy Q4 IPR&D and stock comp drove GAAP loss above $140M.
- Minimal revenue; company remains pre-commercial.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2025
+1.5%
Avg return
Earnings day
-4.0%
Avg return
5 days after
+1.1%
Avg return
30 days after
73%
16 / 22 earnings
Positive
+20.3%
Q4 2024
Best reaction
-18.3%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.1% | -7.0% | -42.1% | |
| Q4 2025 | +2.5% | -19.0% | -9.6% | |
| Q3 2025 | -1.3% | +1.7% | +95.5% | |
| Q1 2025 | +4.6% | +2.0% | +21.1% | |
| Q4 2024 | +20.3% | +15.5% | -10.3% | |
| Q3 2024 | -17.6% | -21.3% | -38.9% | |
| Q2 2024 | +1.4% | -8.1% | -20.9% | |
| Q1 2024 | +7.6% | +4.2% | +13.6% | |
| Q4 2023 | +2.5% | -8.6% | -21.8% | |
| Q3 2023 | +6.8% | -24.8% | -11.8% | |
| Q2 2023 | +1.5% | -1.9% | -16.8% | |
| Q1 2023 | +6.9% | +6.5% | +50.9% | |
| Q4 2022 | +9.6% | +1.4% | -1.8% | |
| Q3 2022 | -18.3% | -17.0% | -28.8% | |
| Q2 2022 | +16.3% | +20.2% | +10.1% | |
| Q1 2021 | -12.4% | -22.8% | +1.5% | |
| Q1 2022 | -12.4% | -22.8% | +1.5% | |
| Q4 2019 | +6.1% | +6.1% | +1.6% | |
| Q4 2021 | +6.1% | +6.1% | +1.6% | |
| Q3 2021 | -4.1% | -3.6% | -18.8% | |
| Q4 2020 | +2.8% | +2.2% | +24.6% | |
| Q2 2021 | +2.8% | +2.2% | +24.6% | |
| Q3 2020 | — | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
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