ARCELLX INC Stock Price, News & Analysis

Arcellx, Inc. (NASDAQ: ACLX), a biotechnology company focused on innovative immunotherapies for cancer, announced participation in a fireside chat at the H.C. Wainwright Cell Therapy Virtual Conference on February 28, 2023, at 1:00 p.m. ET. A live webcast will be available on Arcellx's website in the Investors section, with a replay accessible for 30 days. Arcellx is advancing its lead candidate, CART-ddBCMA, for relapsed or refractory multiple myeloma and is also developing the dosable CAR-T therapy, ARC-SparX. The company holds multiple FDA designations for its therapies, reinforcing its commitment to advancing cell therapy.

Arcellx, Inc. (NASDAQ: ACLX), a biotechnology firm focused on innovative immunotherapies for cancer, announced its participation in two upcoming investor conferences. The Guggenheim Oncology Conference will feature a fireside chat on February 9, 2023, at 11:20 a.m. ET, while the SVB Securities Global Biopharma Conference will be held virtually on February 16, 2023, at 3:00 p.m. ET. Live webcasts will be available on Arcellx's website with replays archived for 30 days. Arcellx is advancing its lead candidate, CART-ddBCMA, in pivotal trials for multiple myeloma, supported by several FDA designations.

On January 29, 2023, Kite, a Gilead company (NASDAQ: GILD), and Arcellx (NASDAQ: ACLX) announced the completion of a global strategic collaboration to co-develop and co-commercialize CART-ddBCMA, a late-stage product candidate for treating relapsed or refractory multiple myeloma. Currently in a Phase 2 pivotal trial, CART-ddBCMA leverages a novel synthetic binder technology. The collaboration will allow Kite to commercialize the therapy outside the U.S., while both companies will advance the asset in the U.S. This partnership aims to address the urgent need for effective therapies in treating multiple myeloma, an incurable cancer for most patients.

Kite and Arcellx have announced a global collaboration to co-develop the CART-ddBCMA therapy for relapsed or refractory multiple myeloma. Kite will provide an upfront payment of $225 million and a $100 million equity investment. The companies will share development and commercialization costs, splitting U.S. profits 50/50. The partnership aims to address the significant unmet need in multiple myeloma treatment.

The transaction is expected to close in Q1 2023 and may reduce Gilead's EPS by approximately $0.16. The collaboration capitalizes on Kite's leadership in cell therapy and Arcellx's innovative approach.

Arcellx (NASDAQ: ACLX) reported promising long-term results from the CART-ddBCMA Phase 1 expansion trial, where 100% of patients achieved an overall response rate. Of 38 evaluable patients, 71% reached complete or stringent complete response (CR/sCR). No severe toxicities were noted at the recommended Phase 2 dose of 115 million CAR+ T cells. Additionally, the company initiated the iMMagine-1 Phase 2 trial and the Phase 1 trial for ACLX-002 targeting acute myeloid leukemia and myelodysplastic syndromes. The developments indicate a strong commitment to advancing innovative cancer therapies.

Arcellx and Kite, a Gilead Company, have entered into a strategic collaboration to co-develop and commercialize CART-ddBCMA, a late-stage cell therapy for relapsed or refractory multiple myeloma. Arcellx will receive an upfront payment of $225M, a $100M equity investment, and potential contingent payments up to $3.9B. The companies will share U.S. profits 50/50 while Arcellx earns royalties on sales outside the U.S. The collaboration aims to accelerate patient access to innovative therapies.

Arcellx, Inc. (NASDAQ: ACLX) reported its third-quarter 2022 financial results, highlighting the initiation of the pivotal iMMagine-1 Phase 2 study for CART-ddBCMA aimed at treating relapsed multiple myeloma. The company has $280.8 million in cash, sufficient to fund operations for the next 12 months. R&D expenses surged to $83.5 million, primarily due to a one-time $63.1 million non-cash expense related to Lonza manufacturing services. The net loss for the quarter was $92.9 million, marking a significant increase from $17.1 million in Q3 2021.

Arcellx, Inc. (ACLX) announced significant developments in its Q2 2022 financial results and business highlights. The company completed a public offering raising $128.8 million and presented promising data from its CART-ddBCMA Phase 1 trial at the ASCO Annual Meeting, reporting a 100% overall response rate. Cash reserves as of June 30, 2022, stood at $307 million. However, the company incurred a net loss of $32.1 million, up from $15.9 million a year earlier, driven largely by increased R&D expenses.

Arcellx, Inc. (NASDAQ: ACLX) has appointed Maryam Abdul-Kareem, J.D., as General Counsel, bringing extensive experience in the biopharmaceutical industry from her previous roles at Kinnate Biopharma and AstraZeneca. Abdul-Kareem's responsibilities will include overseeing legal, contracts, and compliance matters as the company scales its operations. CEO Rami Elghandour emphasized her leadership skills and commitment to diversity as vital for the company’s growth.

Arcellx is focused on developing innovative immunotherapies for cancer and related diseases, including its lead candidate CART-ddBCMA.