Gilead to acquire cancer therapy developer Arcellx
CNBC • • business
Key Points:
- Gilead Sciences announced it will acquire cancer therapy partner Arcellx for an implied equity value of $7.8 billion, expanding their cell therapy collaboration initiated in 2022.
- Gilead will pay $115 per share in cash, representing a 79% premium over Arcellx's last closing price, with shares surging 77.8% in premarket trading.
- The acquisition centers on anito-cel, an experimental CAR-T therapy for multiple myeloma, currently under FDA review with a decision expected by December 23, 2024.
- The deal includes a contingent payment of $5 per share to Arcellx shareholders if anito-cel achieves $6 billion in cumulative global
