**Arcellx Reports Financial Results and Strategic Updates in Annual Filing**

Arcellx, Inc., a clinical-stage biotechnology company, released its 10-K filing, detailing its financial performance and operational developments. The company, focused on immunotherapies for cancer and other diseases, reported collaboration revenue of $22.3 million for the year ended December 31, 2025, a significant decrease from $107.9 million in 2024. This decline is attributed to the completion of dosing and manufacturing in the iMMagine-1 trial in the fourth quarter of 2024. The company's net loss for 2025 was $228.9 million, compared to $107.3 million in the previous year, primarily due to increased research and development and general and administrative expenses.

The company's research and development expenses totaled $157.6 million in 2025, a slight increase from $157.1 million in 2024. This included external costs for clinical development and manufacturing, as well as internal costs for personnel and facilities. General and administrative expenses rose to $117.8 million in 2025, up from $88.4 million in 2024, driven by increased personnel costs and commercial readiness activities. Other income, net, primarily from interest on cash and marketable securities, decreased to $24.2 million in 2025 from $32.3 million in 2024, reflecting lower marketable securities balances.

Operationally, Arcellx made significant strides in its lead program, anito-cel, submitting a Biologics License Application (BLA) to the FDA in December 2025 for the treatment of relapsed or refractory multiple myeloma (rrMM). The FDA accepted the BLA in February 2026, with a target Prescription Drug User Fee Act (PDUFA) date of December 23, 2026. Kite Pharma, a Gilead company, initiated a global Phase 3 clinical trial (iMMagine-3) of anito-cel in patients with second through fourth line rrMM, with full enrollment expected by mid-2026. Arcellx also began dosing patients in a Phase 1 trial of anito-cel in generalized Myasthenia Gravis (gMG) during the second half of 2025. As of December 31, 2025, the company had 209 full-time employees.

Looking ahead, Arcellx anticipates that its existing cash, cash equivalents, and marketable securities will be sufficient to fund planned operations into 2028. The company expects to continue to advance anito-cel through clinical development and regulatory approval, expand its ARC-SparX platform, and pursue strategic partnerships. However, on February 22, 2026, Arcellx entered into a Merger Agreement with Gilead, under which Gilead will acquire Arcellx in a two-step transaction, consisting of a tender offer followed by a subsequent merger. The offer price is $115.00 per share in cash, plus one contingent value right (CVR) representing the right to receive $5.00 per CVR if certain sales milestones are achieved. The transaction is expected to close during the second quarter of 2026, subject to customary closing conditions.

About Arcellx, Inc.

Arcellx, Inc. is a clinical-stage biotechnology company developing innovative cell therapies using its proprietary D-Domain platform to create safer, more effective, and broadly accessible CAR-T treatments. Its core products include ddCARs—single infusion CAR-T therapies—and ARC-SparX, a controllable universal CAR-T system. Targeting hematologic cancers, solid tumors, and autoimmune diseases, Arcellx leverages engineered synthetic binding domains to improve efficacy, safety, manufacturability, and treatment adaptability.

This description was generated via AI from an annual report. Updated 9 months ago.

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