LYEL - Why Shares of Lyell Immunopharma Jumped This Week
2023-06-16 10:47:04 ET
Shares of Lyell Immunopharma (NASDAQ: LYEL) were up 39% for the week as of early Friday morning, according to data provided by S&P Global Market Intelligence . The clinical-stage biotech , which ended last week's trading at $2.78, rose to as high as $3.97 early Friday. The stock is up more than 10% so far this year.
Lyell Immunopharma did a presentation this week regarding its pipeline at the Goldman Sachs 44th Annual Global Healthcare Conference in Dana Point, California. That presentation discussed its lead candidate, LYL797, a ROR1 chimeric antigen receptor T-cell (CAR-T) therapy to treat solid tumors. The theory is that by targeting ROR1, an antigen expressed in chronic lymphocytic leukemia and several types of solid tumors, LYL797 could be more effective than current CAR-T cell therapies are against solid tumors, such as non-small cell lung cancer (NSCLC) and advanced triple-negative breast cancer (TNBC). Lyell asserted that its therapy could overcome the barriers of T-cell exhaustion and lack of durable stemness in T-cells.
LYL797 is being tested in early-stage trials as a treatment for NSCLC and TNBC. The only other therapy the company has in clinical trials is LYL845, a tumor-infiltrating lymphocyte that is being looked at as a treatment for patients with relapsed and/or refractory metastatic or locally advanced melanoma, as well as NSCLC and colorectal cancer.
For further details see:
Why Shares of Lyell Immunopharma Jumped This Week