Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Technology
Vandana Singh

CAR-T Player Arcellx Raises $123M Via Initial Public Offering, Opens Trading At $19

CAR-T company Arcellx Inc (NASDAQ:ACLX) priced its IPO at $15 per share, raising $123.8 million at the low end of the Company’s proposed range of $15 - $17.

  • The Company offered 8.3 million shares during the initial public offering.
  • Arcellx's lead ddCAR candidate, CART-ddBCMA, is in Phase 1 development for relapsed or refractory (r/r) multiple myeloma (MM). 
  • Arcellx plans to initiate a Phase 2 trial of CART-ddBCMA for treatment of r/r MM in late 2022 and pursue the development of the candidate in earlier lines of therapy.
  • In 2020, the Company showed its lead BCMA-targeting CAR-T for multiple myeloma shrunk tumors in six out of six patients, with four of them experiencing a stringent complete response.
  • The latest results, presented at ASH last year, showing 19 out of 19 patients saw their tumors shrink, with 13 seeing a stringent complete response. Sixteen patients were still responding after 21 months.
  • Arcellx will list on the NASDAQ under the symbol ACLX. 
  • BofA Securities, SVB Leerink, Barclays, and William Blair acted as joint bookrunners on the deal.
  • Price Action: ACLX shares opened for trade at $19.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.