India, Nov. 4 -- Shares of Lyell Immunopharma, Inc. (LYEL) surged 44% after the company announced an approximately $80 million private placement and reported positive updated clinical data for its investigational CAR T-cell therapy, rondecabtagene autoleucel (ronde-cel), in patients with relapsed or refractory large B-cell lymphoma.
Under the private placement agreement, Lyell will sell 7,428,040 shares of common stock at $10.77 per share, generating approximately $80 million in gross proceeds. The financing is expected to extend the company's cash runway into 2028, supporting ongoing clinical trials and a planned Biologics License Application (BLA) submission for ronde-cel in the second half of 2027.
In the pivotal Phase 1/2 study in the...