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.
