ARCELLX INC Stock Price, News & Analysis

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.

Arcellx, Inc. (NASDAQ: ACLX) has successfully closed its upsized public offering, raising $128.8 million through the sale of 8,050,000 shares of common stock at $16.00 per share. This includes the full exercise of an option by underwriters to purchase an additional 1,050,000 shares. The offering, which was registered with the SEC and became effective on June 15, 2022, aims to advance Arcellx's innovative immunotherapies, including CART-ddBCMA for multiple myeloma and ARC-SparX for various cancers.

Arcellx, Inc. (NASDAQ: ACLX) announced a follow-on public offering of 7,000,000 shares at $16.00 per share, raising $112 million in gross proceeds. This offering is an increase from the initial size of 4,000,000 shares. Underwriters have a 30-day option to purchase an additional 1,050,000 shares. The offering is set to close on June 21, 2022. BofA Securities, SVB Securities, William Blair, and Canaccord Genuity are acting as joint book-running managers.

Arcellx, Inc. (NASDAQ: ACLX) presented promising Phase 1 results for its CART-ddBCMA therapy targeting relapsed or refractory multiple myeloma. Among 31 evaluable patients, a 100% overall response rate was observed, with 71% achieving complete (CR) or stringent complete (sCR) responses. Notably, long-term data showed that 81% of patients dosed over 12 months reached CR/sCR. The treatment was well-tolerated, with no severe toxicities reported. A pivotal Phase 2 study is expected to initiate by the end of 2022. These findings highlight the therapy's potential as a leading treatment option.

Arcellx, Inc. (NASDAQ: ACLX) has appointed Michelle Gilson as the new Chief Financial Officer. Gilson previously served as a Managing Director and Senior Equity Research Analyst at Canaccord Genuity, specializing in biotechnology. Her extensive background in capital markets will enhance Arcellx's financial strategy as they advance their innovative cell therapies aimed at treating cancer. The lead product candidate, CART-ddBCMA, is in an ongoing Phase 1 study and has received multiple FDA designations, underscoring the company's commitment to developing effective treatment options.

Arcellx, Inc. (NASDAQ: ACLX) announced the appointment of Olivia Ware to its Board of Directors, replacing Lewis T. "Rusty" Williams, M.D. Ware brings over 20 years of experience in biotech and pharmaceutical drug development, having played key roles in launching major oncology drugs such as Rituxan and Herceptin. Her expertise is expected to enhance the company's strategic direction, especially as it prepares for a Phase 2 study of CART-ddBCMA for relapsed or refractory multiple myeloma. The company is focused on advancing innovative immunotherapies and has received multiple FDA designations for its lead product.