--- title: "Lyell Immunopharma | 10-K: FY2025 Revenue Misses Estimate at USD 36 K" type: "News" locale: "zh-HK" url: "https://longbridge.com/zh-HK/news/278937978.md" datetime: "2026-03-12T20:25:11.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/278937978.md) - [en](https://longbridge.com/en/news/278937978.md) - [zh-HK](https://longbridge.com/zh-HK/news/278937978.md) --- > 支持的語言: [简体中文](https://longbridge.com/zh-CN/news/278937978.md) | [English](https://longbridge.com/en/news/278937978.md) # Lyell Immunopharma | 10-K: FY2025 Revenue Misses Estimate at USD 36 K Revenue: As of FY2025, the actual value is USD 36 K, missing the estimate of USD 36.2 K. EPS: As of FY2025, the actual value is USD -16.06, missing the estimate of USD -10.53. EBIT: As of FY2025, the actual value is USD -282.48 M. ### Segment Revenue Lyell Immunopharma, Inc. has no products approved for sale and has never generated revenue from product sales. Total revenue was $36 thousand for 2025, $61 thousand for 2024, and $130 thousand for 2023 . ### Operational Metrics - **Net Loss**: Lyell Immunopharma, Inc. reported a net loss of - $274,448 thousand in 2025, an improvement from - $342,994 thousand in 2024, but higher than - $234,632 thousand in 2023 . - **Loss from Operations**: The company’s loss from operations was - $269,404 thousand in 2025, compared to - $358,755 thousand in 2024 and - $247,008 thousand in 2023 . - **Total Operating Expenses**: Total operating expenses were $269,440 thousand in 2025, decreasing from $358,816 thousand in 2024, which was an increase from $247,138 thousand in 2023 . - **Research and Development (R&D) Expenses**: R&D expenses decreased to $158,675 thousand in 2025 from $171,603 thousand in 2024, primarily due to a $12.3 million reduction in personnel-related expenses (including a - $5.5 million decrease in employee stock compensation) and a $9.2 million reduction in facilities, technology, and depreciation, partially offset by an $8.6 million increase in research activities, collaborations, outside services, and other expenses . R&D expenses in 2024 were $171,603 thousand, down from $182,945 thousand in 2023 . - **General and Administrative (G&A) Expenses**: G&A expenses decreased to $45,135 thousand in 2025 from $52,041 thousand in 2024, mainly due to a $5.7 million reduction in personnel costs (including a - $5.5 million decrease in stock-based compensation) and decreases in outside service expenses . G&A expenses in 2024 were $52,041 thousand, down from $66,983 thousand in 2023 . - **Other Operating Income, Net**: This was - $2,145 thousand in 2025, - $3,309 thousand in 2024, and - $2,790 thousand in 2023, with the 2025 decrease compared to 2024 primarily due to increased losses on property and equipment disposals . - **Acquired In-Process Research and Development (IPR&D)**: Acquired IPR&D expense was $66,332 thousand in 2025, primarily from the LYL273 license acquisition, and $87,184 thousand in 2024 from the ImmPACT acquisition, with no such expense in 2023 . - **Impairment of Long-Lived Assets**: Impairment expense was $1,443 thousand in 2025, related to the West Hills, Los Angeles lease asset closure, and $51,297 thousand in 2024, with no impairment recorded in 2023 . - **Interest Income, Net**: Interest income was $13,080 thousand in 2025, decreasing from $24,068 thousand in 2024, primarily due to decreased interest rates and lower cash equivalent and marketable securities balances . Interest income in 2024 was $24,068 thousand, up from $23,453 thousand in 2023 . - **Other (Expense) Income, Net**: This was - $18,124 thousand in 2025, compared to $4,694 thousand in 2024 and $1,846 thousand in 2023, with the 2025 change primarily driven by a - $19.2 million loss from the change in fair value of the SPA put/call liability . - **Impairment of Other Investments**: No impairment was recorded in 2025, compared to - $13,001 thousand in 2024 and - $12,923 thousand in 2023 . ### Cash Flow - **Net Cash Used in Operating Activities**: - $150,024 thousand in 2025, - $162,394 thousand in 2024, and - $163,694 thousand in 2023 . - **Net Cash Provided by Investing Activities**: $54,097 thousand in 2025, $122,424 thousand in 2024, and $184,048 thousand in 2023 . - **Net Cash Provided by Financing Activities**: $50,406 thousand in 2025, $1,326 thousand in 2024, and $1,743 thousand in 2023 . ### Unique Metrics - **Accumulated Deficit**: Lyell Immunopharma, Inc. had an accumulated deficit of $1.6 billion as of December 31, 2025 . - **Cash, Cash Equivalents and Marketable Securities**: As of December 31, 2025, Lyell Immunopharma, Inc. had $247.2 million in cash, cash equivalents and marketable securities, excluding restricted cash . ### Outlook / Guidance Lyell Immunopharma, Inc. expects its current cash, cash equivalents, and marketable securities to fund operations into the second quarter of 2027 . The company anticipates needing to raise additional capital in the future to support further development and potential commercialization of product candidates . Future capital requirements are contingent on various factors, including the scope and costs of R&D, clinical trials, regulatory review, manufacturing, and commercialization activities . ### 相關股票 - [Lyell Immunopharma (LYEL.US)](https://longbridge.com/zh-HK/quote/LYEL.US.md) ## 相關資訊與研究 - [Berenberg Lifts FY26 Estimates for Ferrari on Expected 'Strong' Q1](https://longbridge.com/zh-HK/news/281471058.md) - [Scinai Immunotherapeutics reports FY results](https://longbridge.com/zh-HK/news/281477360.md) - [Wealth First Promoters Confirm 74% Stake With No Encumbrance in FY26](https://longbridge.com/zh-HK/news/281530653.md) - [Cintas (CTAS) Valuation Check After Q3 Results And Higher Fiscal 2026 Guidance](https://longbridge.com/zh-HK/news/281225115.md) - [NexPoint Real Estate Finance (NREF) Revenue Jump Tests Bearish Decline Narrative After FY 2025 Results](https://longbridge.com/zh-HK/news/281449738.md)