Lyell Immunopharma down on termination of GSK collaboration

Lyell Immunopharma

24/10/2022 23:17

** Lyell Immunopharma Inc's shares  LYEL.O  down 3.36% at
$6.33 after market
    ** GlaxoSmithKline  GSK.L  informed LYEL of discontinuing 
development of product candidate including product incorporating
LYEL reprogramming technologies as part of a number of strategic
actions - SEC filing  urn:newsml:reuters.com:*:nEOL4ytsc8
    ** GSK said it terminates license and collaboration
agreement between LYEL dated May 2019
    ** Under the 2019 agreement LYEL received $250 million
upfront payments, and was eligible for payments based on
achieving development and sales milestones
    ** As of last close, stock had lost ~17% YTD
 (Reporting by Khushi Mandowara)
 ((Khushi.Mandowara@thomsonreuters.com;))