Arcellx Q1 2023: cash $533.6M; collaboration revenue $17.9M; net loss $27.3M

Arcellx, Inc.

2023-Q1 EPS reported -$0.58 revenue$17,912,000

Cash, cash equivalents and marketable securities $533.6M; expected to fund through BLA filing in H1 2025.
Collaboration revenue $17.9M from Kite license agreement (vs $0); recognized on percentage-of-completion basis.
R&D expenses $32.9M (up $14.8M), G&A $15.4M (up $7.4M); net loss $27.3M (vs $26.0M).
Clinical milestones: completing iMMagine-1 enrollment, initiating iMMagine-2, and presenting longer-term Phase 1 data for CART-ddBCMA.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Arcellx, Inc. reported the first quarter ended March 31, 2023 results: revenue $17.9 million, net income $27.3 million.

Period: the first quarter ended March 31, 2023
Revenue: $17.9 million
Net income: $27.3 million
Result: reported results

Exact text from the filing

First Quarter 2023 Financial Highlights Cash, cash equivalents, and marketable securities: As of March 31, 2023, Arcellx had cash, cash equivalents, and marketable securities of $533.6 million. Arcellx expects that the cash, cash equivalents, and marketable securities on hand, will fund its operations through BLA filing of CART-ddBCMA planned for the first half of 2025 Collaboration revenue: Collaboration revenue was $17.9 million and zero for the quarters ended March 31, 2023 and 2022, respectively. The revenue results for the three months ended March 31, 2023 is from the recognition of research and development performed under the arrangement described in the recent license and collaboration agreement with Kite Pharma, Inc. (Kite). Revenue is being recognized on a percentage of completion basis over the term of the contract with Kite. R&D expenses: Research and development expenses were $32.9 million and $18.1 million for the quarters ended March 31, 2023 and 2022, respectively, an in

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Source: SEC EDGAR

accession 0000950170-23-018779

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