24/7 Market News Snapshot 24 October, 2024 – Lyell Immunopharma, Inc. Common Stock (NASDAQ:LYEL)

October 24, 2024

DENVER, Colo., 24 October, 2024 (247marketnews.com) – (NASDAQ:LYEL) are discussed in this article.
Lyell Immunopharma, Inc. (LYEL) is making headlines with a remarkable surge in its stock price and a significant strategic acquisition aimed at advancing its position in the biotechnology sector. Today, the company’s shares opened at $1.15 and soared over 31% to reach $1.508, reflecting a trading volume of 856.55K. This bullish movement indicates heightened investor interest and confidence in the company’s future prospects.

In a pivotal development, Lyell has entered into a definitive agreement to acquire ImmPACT Bio USA Inc., which strengthens its clinical pipeline by adding IMPT-314, a dual-targeting CD19/CD20 CAR T-cell therapy. Designed to treat hematologic malignancies, including large B-cell lymphoma, IMPT-314 is expected to enhance patient outcomes through improved efficacy. Early results from ImmPACT’s ongoing Phase 1-2 clinical trial demonstrate a striking 92% objective response rate and a 77% complete response rate among patients with multiple prior treatments.

This acquisition positions Lyell to focus on developing next-generation CAR T-cell therapies, as it plans to discontinue several earlier-stage programs, including LYL797 and LYL845. Lynn Seely, M.D., President and CEO of Lyell, emphasized that this strategic move aligns with the company’s mission to deliver more effective treatments for cancer patients worldwide. Excitement surrounds the upcoming presentation of initial trial data at a major medical conference and the initiation of pivotal trials in 2025.

With sufficient financial backing projected to last into 2027, Lyell Immunopharma is poised to reach significant clinical milestones that may revolutionize cancer treatment and solidify its standing within the oncology landscape. The recent surge in stock price, coupled with this acquisition, suggests a promising future for the company and its commitment to innovative cancer therapies.

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