SCHEDULE 13G/A: Foresite Capital Funds Disclose 6.7% Passive Stake in Lyell Immunopharma

Foresite Capital and its affiliated funds, including James Tananbaum, have filed an amended Schedule 13G disclosing a combined passive beneficial ownership of 6.7% in Lyell Immunopharma, Inc.'s common stock as of December 31, 2024.

Summary

• Foresite Capital Fund IV, L.P. (FCF IV) beneficially owns 8,325,000 shares of Lyell Immunopharma, Inc. common stock, representing 2.9% of the class.
• Foresite Capital Management IV, LLC (FCM IV), the general partner of FCF IV, is deemed to have sole voting and dispositive power over the 8,325,000 shares.
• Foresite Capital Fund V, L.P. (FCF V) beneficially owns 8,133,047 shares, representing 2.8% of the class.
• Foresite Capital Management V, LLC (FCM V), the general partner of FCF V, is deemed to have sole voting and dispositive power over the 8,133,047 shares.
• Foresite Capital Opportunity Fund V, L.P. (FCF Opp V) beneficially owns 3,020,846 shares, representing 1.0% of the class.
• Foresite Capital Opportunity Management V, LLC (FCM Opp V), the general partner of FCF Opp V, is deemed to have sole voting and dispositive power over the 3,020,846 shares.
• James Tananbaum, as the managing member of FCM IV, FCM V, and FCM Opp V, is deemed to have sole voting and dispositive power over an aggregate of 19,478,893 shares, representing 6.7% of the outstanding common stock.
• The percentage of ownership is calculated based on 292,161,656 shares of Lyell Immunopharma, Inc. Common Stock outstanding as of November 26, 2024.
• The filing is an Amendment No. 1 to a previous Schedule 13G, indicating an update to their beneficial ownership position.

Sentiment

Score: 6

Explanation: The document is a routine disclosure of beneficial ownership. The sentiment is slightly positive as a significant stake by a specialized investment firm can be interpreted as a vote of confidence in the company, although the filing itself is purely factual.

Positives

• A significant beneficial ownership stake (6.7%) by a specialized investment firm like Foresite Capital may signal confidence in Lyell Immunopharma's long-term prospects.
• The investment is stated to be for passive purposes, not for changing or influencing control of the issuer, which can be viewed positively by current management and other shareholders.

Risks

• The document itself does not introduce new risks; it is a disclosure of ownership. However, as with any equity investment, the value of the shares held by Foresite Capital is subject to market fluctuations and the inherent business risks of Lyell Immunopharma, Inc.

Future Outlook

This Schedule 13G filing is a disclosure of beneficial ownership and does not contain forward-looking statements or guidance from Lyell Immunopharma, Inc. or the reporting persons regarding the issuer's future performance.

Industry Context

Foresite Capital is a prominent investment firm focused on healthcare and life sciences. Their significant stake in Lyell Immunopharma, a company in the immunopharma sector, aligns with their investment strategy and indicates continued interest in the biotechnology and therapeutic development space.

Stakeholder Impact

• Shareholders: The disclosure of a significant passive stake by a reputable institutional investor like Foresite Capital may be viewed positively, potentially increasing investor confidence and market interest in Lyell Immunopharma, Inc.

Key Dates

Keywords

Lyell Immunopharma, Foresite Capital, Schedule 13G, Beneficial Ownership, Common Stock, Investment, Biotechnology, Institutional Investor, Passive Investment