Lyell Immunopharma Inc. Common Stock (LYEL)

FairStock Score: 43/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I start with the business. Lyell is a clinical-stage cell therapy company with 161 employees. Its lead candidate, rondecabtagene autoleucel, is a dual-targeting CD19/CD20 CAR T-cell therapy in pivotal PiNACLE and PiNACLE-H2H trials. That is a scientific lottery ticket, not a moat. In fiscal FY2023, FY2024, and FY2025, it reported revenue of $130,000, $61,000, and $36,000, net losses of $-234.6M, $-343.0M, and $-274.4M, and diluted EPS of $-18.70, $-26.23, and $-16.06. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $4,000, down from $8,000 in fiscal Q2 2025, with net income of $-44.8M and diluted EPS of $-1.92. That is not a pricing-power business; it is pre-commercial. The balance sheet gives some comfort: D/E is 0.20, and at the 2026-10-13 close of $7.51, FairStock calculates P/B at 0.75. But FairStock also calculates P/E at -0.59, ROE at -93.28%, ROCE at -34.18%, Piotroski F-Score at 0/9, and Altman Z-Score at -5.50. Trailing free cash flow is $-134.0M, a -72.8% FCF yield against a $184.0M market cap. The computed Lynch category is none, because it lost money in each of the last four years. Mr. Market has taken the stock from a 52-week high of $45.00 to near its $7.39 low. Graham would look at book value, but here book value is largely cash being spent on trials. The upside depends on clinical data, not earnings or durable competitive advantage. A traditional value approach would demand a large margin of safety; the current numbers do not offer one.

In plain English: Lyell Immunopharma is a small clinical-stage biotech trying to develop CAR T-cell therapies for cancer. It has almost no revenue and has lost money every year, with heavy cash burn, so the business looks financially weak today. At $7.51, the stock trades below its accounting book value, but because there are no profits and large losses, it is hard to call it cheap or expensive using normal business numbers.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer