GSK opts not to use Lyell's cell therapy tech after all
In a note filed with the US Securities and Exchange Commission (SEC), California’s Lyell Immunopharma (Nasdaq: LYEL) sought to reassure investors that the termination of its deal with GSK (LSE: GSK) would have “minimal impact” on cash and operations.
Markets took a less sanguine view, with shares falling 2% on Monday and continuing to fall 13% in after-hours trading.
Lyell reached a deal with the British pharma major in late 2019, aimed at developing new technologies to improve GSK’s cell therapies in oncology, using Lyell’s science.
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