Arcellx Reports $188.7m Losses in 2022, but Promising Cell Therapy Approaches in Development Hold Investors’ Attention
$ACLX reports promising results in innovative immunotherapy pipeline.
Biotech firm Arcellx reported strong Q4 and full-year 2022 financial results, with a successful IPO and additional fundraising, and a promising collaboration with Kite to develop CART-ddBCMA for multiple myeloma. Clinical data from ongoing Phase 1 expansion studies for the therapy showed deep and durable responses with no significant adverse effects. The company's cash reserves stand strong and a $100M equity investment by Gilead was added last month. Arcellx intends to complete enrollment in iMMagine-1, begin iMMagine-2 for earlier multiple myeloma lines, and present longer-term data from CART-ddBCMA's Phase 1 expansion study, with market entry projected in H1 2025.