Lyell Immunopharma, Inc.
LYELHealthcare|Biotechnology|US
$14.86
-0.14 (-0.93%)
DCF Value
$0.36
Tangible Book / Share
$7.89
Cash / Share
$7.25
Financials
Financial Snapshot
Market Cap
$364.1M
Enterprise Value
$306.4M
Revenue (TTM)
$15.0K
Net Income (TTM)
-$255.2M
Cash & Investments
$177.1M
Net Cash
$142.8M
Free Cash Flow (TTM)
-$140.0M
Operating CF (TTM)
-$139.3M
Debt/Equity
0.18
Cash Runway & Burn Rate
Cash on Hand
$177.1M
Quarterly Burn
$34.8M
Monthly Burn
$11.6M
Est. Runway
~5.1 quarters
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $436.0M | $612.6M | $614.8M | $640.2M | $546.2M | $370.5M | $247.2M | $177.1M | |
| Operating Cash Flow | $39.5M | -$160.9M | -$126.2M | -$169.6M | -$163.7M | -$162.4M | -$150.0M | -$139.3M | |
| Free Cash Flow | $23.4M | -$212.4M | -$191.8M | -$193.8M | -$166.4M | -$162.9M | -$150.8M | -$140.0M | |
| Capital Expenditure | -$16.0M | -$51.5M | -$65.5M | -$24.3M | -$2.7M | -$464.0K | -$780.0K | -$715.0K | |
| Financing Cash Flow | $351.2M | $476.8M | $401.2M | $10.6M | $1.7M | $1.3M | $50.4M | $52.5M |
R&D Spending
R&D (TTM)
$169.2M
R&D Intensity
1128166.7%
R&D Growth vs Prior
+6.6%
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $657.0K | $7.8M | $10.7M | $84.7M | $130.0K | $61.0K | $36.0K | $15.0K | |
| R&D Expense | $63.6M | $182.2M | $138.7M | $159.2M | $182.9M | $171.6M | $158.7M | $169.2M | |
| R&D % of Revenue | 9679.6% | 2349.7% | 1302.3% | 188.0% | 140726.9% | 281316.4% | 440763.9% | 1128166.7% | |
| SG&A | $39.2M | $46.9M | $89.1M | $117.3M | $67.0M | $52.0M | $45.1M | $39.0M |
Income Statement
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $657.0K | $7.8M | $10.7M | $84.7M | $130.0K | $61.0K | $36.0K | $15.0K | |
| Cost of Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $11.5M | $2.3M | |
| Gross Profit | $657.0K | $7.8M | $10.7M | $84.7M | $130.0K | $61.0K | -$11.5M | -$2.3M | |
| R&D | $63.6M | $182.2M | $138.7M | $159.2M | $182.9M | $171.6M | $158.7M | $169.2M | |
| SG&A | $39.2M | $46.9M | $89.1M | $117.3M | $67.0M | $52.0M | $45.1M | $39.0M | |
| Operating Income | -$102.1M | -$211.9M | -$214.8M | -$187.1M | -$247.0M | -$358.8M | -$203.8M | -$156.7M | |
| Interest Expense | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Pretax Income | -$129.4M | -$204.5M | -$250.2M | -$183.1M | -$234.6M | -$343.0M | -$274.4M | -$255.2M | |
| Net Income | -$129.4M | -$204.5M | -$250.2M | -$183.1M | -$234.6M | -$343.0M | -$274.4M | -$255.2M | |
| EPS (Diluted) | -0.53 | -0.84 | -1.03 | -0.74 | -0.93 | -1.31 | -16.06 | -11.50 | |
| EBITDA | -$100.8M | -$215.4M | -$236.6M | -$165.1M | -$214.4M | -$200.6M | -$262.9M | -$248.9M | |
| Shares Out. (M) | 12.33 | 12.33 | 12.14 | 12.35 | 12.55 | 13.07 | 17.09 | 24.44 |
Balance Sheet
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $96.7M | $140.4M | $293.8M | $123.6M | $145.6M | $105.6M | $60.2M | $92.1M | |
| Short-Term Investments | $339.4M | $472.2M | $321.0M | $516.6M | $400.6M | $264.9M | $187.0M | $85.1M | |
| Total Current Assets | $440.3M | $617.5M | $626.3M | $651.3M | $554.7M | $379.6M | $260.9M | $186.2M | |
| Total Assets | $555.6M | $908.3M | $1.13B | $937.6M | $750.0M | $490.9M | $340.1M | $273.9M | |
| Total Current Liabilities | $22.0M | $49.3M | $46.7M | $37.0M | $34.5M | $53.8M | $49.4M | $46.3M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $147.6M | $189.8M | $197.6M | $104.3M | $95.1M | $108.0M | $91.8M | $81.1M | |
| Stockholders' Equity | $408.1M | $718.4M | $929.8M | $833.3M | $655.0M | $382.8M | $248.2M | $192.7M | |
| Retained Earnings | -$129.7M | -$334.1M | -$584.4M | -$767.5M | -$1.00B | -$1.35B | -$1.62B | -$1.73B |
Cash Flow Statement
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $39.5M | -$160.9M | -$126.2M | -$169.6M | -$163.7M | -$162.4M | -$150.0M | -$139.3M | |
| Capital Expenditure | -$16.0M | -$51.5M | -$65.5M | -$24.3M | -$2.7M | -$464.0K | -$780.0K | -$715.0K | |
| Free Cash Flow | $23.4M | -$212.4M | -$191.8M | -$193.8M | -$166.4M | -$162.9M | -$150.8M | -$140.0M | |
| Investing Cash Flow | -$422.4M | -$273.5M | -$121.6M | -$11.5M | $184.0M | $122.4M | $54.1M | $55.2M | |
| Financing Cash Flow | $351.2M | $476.8M | $401.2M | $10.6M | $1.7M | $1.3M | $50.4M | $52.5M | |
| Issuance of Stock | $0.00 | $0.00 | $391.8M | $11.1M | $2.2M | $1.4M | $50.4M | $2.5M | |
| Repurchase of Stock | -$185.0K | -$11.8M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $15.7M | $33.3M | $62.2M | $0.00 | $47.1M | $33.1M | $41.8M | $34.6M | |
| Net Change in Cash | -$31.8M | $42.4M | $153.4M | -$170.3M | $22.1M | -$38.6M | -$45.5M | -$31.5M |
Dilution Tracker
Shares outstanding grew 38.6% over 5 years — significant dilution
Shares Outstanding
25M
5-Year Share Growth
+38.6%
Stock Issuance (TTM)
$2.5M
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 12.33 | 12.33 | 12.14 | 12.35 | 12.55 | 13.07 | 17.09 | 24.44 | |
| Change vs Prior % | — | 0.0% | -1.6% | 1.8% | 1.6% | 4.2% | 30.7% | 43.0% | |
| Stock Issuance | $0.00 | $0.00 | $391.8M | $11.1M | $2.2M | $1.4M | $50.4M | $2.5M | |
| Stock Repurchase | -$185.0K | -$11.8M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $15.7M | $33.3M | $62.2M | $0.00 | $47.1M | $33.1M | $41.8M | $34.6M |
Margins & Profitability
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | -31952.8% | -15446.7% | |
| Operating Margin % | -15538.7% | -2732.6% | -2016.7% | -220.9% | -190006.2% | -588123.0% | -566038.9% | -1044686.7% | |
| Net Margin % | -19692.1% | -2636.3% | -2349.5% | -216.2% | -180486.2% | -562285.2% | -762355.6% | -1701066.7% | |
| EBITDA Margin % | -15347.5% | -2777.6% | -2221.5% | -195.0% | -164909.2% | -328923.0% | -730302.8% | -1659473.3% | |
| FCF Margin % | 3565.8% | -2737.9% | -1800.5% | -228.9% | -127984.6% | -266980.3% | -418900.0% | -933100.0% | |
| ROE % | -31.7% | -28.5% | -26.9% | -22.0% | -35.8% | -89.6% | -110.6% | -107.6% | |
| ROA % | -23.3% | -22.5% | -22.2% | -19.5% | -31.3% | -69.9% | -80.7% | -93.2% | |
| ROIC % | -19.1% | -24.6% | -19.9% | -20.7% | -34.2% | -80.6% | -68.0% | -68.9% | |
| R&D / Revenue % | 9679.6% | 2349.7% | 1302.3% | 188.0% | 140726.9% | 281316.4% | 440763.9% | 1128166.7% |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0.0% | 1080.5% | 37.3% | 695.1% | -99.8% | -53.1% | -41.0% | |
| Gross Profit | 0.0% | 1080.5% | 37.3% | 695.1% | -99.8% | -53.1% | -18957.4% | |
| Operating Income | 0.0% | -107.6% | -1.3% | 12.9% | -32.0% | -45.2% | 43.2% | |
| Net Income | 0.0% | -58.0% | -22.4% | 26.8% | -28.1% | -46.2% | 20.0% | |
| EPS (Diluted) | 0.0% | -59.4% | -22.2% | 28.1% | -26.1% | -40.1% | -1126.0% | |
| Operating Cash Flow | 0.0% | -507.5% | 21.5% | -34.3% | 3.5% | 0.8% | 7.6% | |
| Free Cash Flow | 0.0% | -1006.5% | 9.7% | -1.1% | 14.2% | 2.1% | 7.4% | |
| R&D Expense | 0.0% | 186.6% | -23.9% | 14.8% | 14.9% | -6.2% | -7.5% | |
| SG&A Expense | 0.0% | 19.7% | 90.0% | 31.7% | -42.9% | -22.3% | -13.3% | |
| Total Assets | 0.0% | 63.5% | 24.1% | -16.8% | -20.0% | -34.6% | -30.7% | |
| Book Value / Share | 0.0% | 76.1% | 31.5% | -12.0% | -22.6% | -43.9% | -50.4% | |
| Debt | 0.0% | 98.7% | 24.3% | -0.2% | -6.7% | -6.6% | -13.5% | |
| Diluted Shares | 0.0% | 0.0% | -1.6% | 1.8% | 1.6% | 4.2% | 30.7% |
Valuation
P/E (TTM)At Loss
P/S24276.39
10Y Low / Med / High10.12 / 2743.40 / 14614.51
P/B1.88
10Y Low / Med / High0.44 / 2.02 / 10.21
EV/EBITDAAt Loss
EV/Revenue20427.19
10Y Low / Med / High9.46 / 1978.99 / 14359.32
P/FCFAt Loss
Intrinsic Value Models (per share)
DCF Value
$0.36
Tangible Book / Share
$7.89
Net Current Assets / Share
$4.29
Graham Net-Net
$3.93
Cash / Share
$7.25
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -638.20 | -400.33 | -150.17 | -93.64 | -41.51 | -9.77 | -1.92 | -0.94 | |
| P/S Ratio | 6339.02 | 536.97 | 176.41 | 10.12 | 3745.44 | 2743.40 | 14614.51 | 24276.39 | |
| P/B Ratio | 10.21 | 5.80 | 2.02 | 1.03 | 0.74 | 0.44 | 2.12 | 1.88 | |
| EV/EBITDA | -40.62 | -18.93 | -6.99 | -4.85 | -1.89 | -0.60 | -1.97 | -1.23 | |
| EV/Revenue | 6233.69 | 525.90 | 155.19 | 9.46 | 3110.98 | 1978.99 | 14359.32 | 20427.19 |
Analyst Estimates & Quality
Altman Z-Score
-8.67
Distress
Piotroski F-Score
1
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $12.3K | $13.2K | $45.2M |
| Net Income | -$122.5M | -$129.1M | -$103.2M |
| EPS | $-7.16 | $-7.27 | $-6.16 |
| # Analysts (EPS) | 3 | 4 | 4 |
Revenue Segments
By Product
| Segment | 2024 | 2025 |
|---|---|---|
| Reportable segment | $61.0K | $36.0K |