Feb. 23 at 8:59 PM
Gilead to Acquire Arcellx in
$7.8B Deal; Stock Surges
Arcellx shares soared 77.4% to
$113.80 on Monday after Gilead Sciences agreed to acquire the biotech for
$115 per share plus a
$5 contingent value right, representing an 80% premium over Friday’s close. The deal, valued at
$7.8 billion, is expected to close in Q2.
Arcellx’s lead candidate, anito-cel, is a cell therapy targeting multiple myeloma, a type of blood cancer, and has an FDA biologics license application under review as a fourth-line treatment. Gilead already collaborates with Arcellx through a subsidiary, building on its 2017 acquisition of Kite Pharma to expand its cancer immunotherapy portfolio.
Gilead shares fell 1.2% in line with the S&P 500 , while Arcellx had its best single-day performance ever. This deal highlights continued interest in “living drug” cell therapies, following recent acquisitions like Eli Lilly’s purchase of Orna Therapeutics.
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