Arcellx expands Kite partnership: $85M upfront, $200M equity at $61.68/sh; cash runway to 2027

Arcellx, Inc.

Kite exercises option for ARC-SparX program ACLX-001 in multiple myeloma; collaboration expanded to lymphomas for CART-ddBCMA.
Arcellx receives $85M upfront cash; Gilead purchases 3,242,542 shares at $61.68/sh for $200M; Gilead ownership ~13%.
Cash runway extended into 2027; transaction expected close year-end 2023, subject to HSR clearance.
Potential milestone payments to offset prespecified development costs; operational efficiencies identified.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Arcellx, Inc. entered into 2023 Purchase Agreement with Gilead Sciences, Inc. valued at $200 million (effective 2023-11-15).

Action: entry
Agreement: equity purchase
Counterparty: Gilead Sciences, Inc.
Value: $200 million
Effective: 2023-11-15

Exact text from the filing

entered into a common stock purchase agreement (the "2023 Purchase Agreement") with Gilead Sciences, Inc. ("Gilead") on November 15, 2023, pursuant to which Arcellx agreed to issue and sell, and Gilead has agreed to purchase, 3,242,542 shares of Arcellx's common stock (the "Shares") for an aggregate purchase price of $200 million

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.92

Arcellx, Inc. amended License Amendment with Kite Pharma, Inc., a Gilead Company valued at $85 million (effective 2023-11-15).

Action: amendment
Agreement: collaboration
Counterparty: Kite Pharma, Inc., a Gilead Company
Value: $85 million
Effective: 2023-11-15

Exact text from the filing

entered into an amendment (the "License Amendment") to its Collaboration and License Agreement with Kite Pharma, Inc., a Gilead Company ("Kite")

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.88

Arcellx, Inc. amended Amended Standstill Agreement with Gilead Sciences, Inc. (effective 2023-11-15).

Action: amendment
Counterparty: Gilead Sciences, Inc.
Effective: 2023-11-15

Exact text from the filing

Arcellx also amended and restated its standstill and stock restriction agreement, dated December 8, 2022, with Gilead (as amended, the "Amended Standstill Agreement")

View on SEC.gov

Browse all material agreements →

Arcellx, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-277504

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.