On Monday, Gilead Sciences Inc. (NASDAQ:GILD) announced it is acquiring Arcellx Inc. (NASDAQ:ACLX) to enhance its long-term oncology prospects.

Gilead currently owns approximately 11.5% of Arcellx’s outstanding common stock.

Multi-Billion Dollar Cancer Deal

Gilead Sciences on Monday agreed to acquire Arcellx for $115 per share in cash, along with a contingent value right of $5 per share, totaling an implied equity value of $7.8 billion.

The acquisition aims to provide Gilead with full control over anitocabtagene autoleucel (anito-cel), a promising CAR T-cell therapy for multiple myeloma, which has already received FDA acceptance for its Biologics License Application (BLA), with an anticipated Prescription Drug User Fee Act (PDUFA) action date of December 23, 2026.

The BLA for anitocel as a fourth-line treatment for patients with relapsed or refractory multiple myeloma is supported by results from the Phase 1 study and the ...