Shares of Arcellx, Inc. (ACLX) surged over 75% on Monday morning after Gilead Sciences, Inc. (GILD) announced a deal to buy the company in a cash-and-CVR transaction valued at about $7.8 billion.
ACLX is currently trading at $113.98, up $49.87 or 77.79%, on the Nasdaq. The stock has traded between $114.14 after closing Friday at $64.11. The stock has traded between $47.86 and $114.26 over the past 52 weeks.
Under the terms of the deal, Arcellx shareholders will receive $115 per share in cash plus one contingent value right worth up to $5 per share, tied to future sales milestones for anito-cel. The offer represents roughly a 68% premium to Arcellx's 30-day volume-weighted average price as of February 20, 2026.
The acquisition gives Gilead full control of anito-cel, a BCMA-directed CAR T-cell therapy for relapsed or refractory multiple myeloma currently under FDA review with a PDUFA date of December 23, 2026. The companies already partnered on development through Gilead's Kite unit.
The transaction, approved by both boards, is expected to close in the second quarter of 2026, subject to regulatory approvals and customary conditions.
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