Lyell Immunopharma Inc., a clinical-stage company focused on advancing next-generation CAR T-cell therapies for cancer treatment, announced a securities purchase agreement for a private placement with institutional and accredited investors, potentially raising up to $100 million. The initial closing is expected to yield approximately $50 million from the sale of common stock at $13.32 per share. The funds will support pivotal-stage clinical trials of LYL314 and other corporate purposes, with expectations to sustain financial needs into mid-2027. This includes funding through significant milestones such as a clinical trial data update from LYL314, the initiation of a Phase 3 trial for relapsed or refractory large B-cell lymphoma, and a trial for a new CAR T-cell therapy targeting an undisclosed solid tumor. Investors are provided with resale registration rights for the common stock shares issued in this financing.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.