A Gilead Sciences office is shown in Foster City, California, U.S. May 1, 2018.<\/p>\n
Stephen Lam | Reuters<\/p>\n
Gilead Sciences<\/a> said on Monday it \u2060will buy cancer therapy partner Arcellx<\/a> for an implied equity \u200bvalue of $7.8 \u200bbillion, expanding \u200btheir cell therapy development collaboration that started in 2022.<\/p>\n Shares of Arcellx climbed 77.8% to $113.99 while \u2060Gilead fell \u200cabout 1% in premarket \u2060trading.<\/p>\n Gilead will pay $115 per share in cash at the deal’s closing, which is at a premium of 79% \u200cto the stock’s last close.<\/p>\n Kite Pharma, a unit of Gilead Sciences, \u200bwas partnering with Arcellx to jointly develop and sell anito-cel, an experimental CAR-T therapy for multiple myeloma, a type \u2060of blood cancer.<\/p>\n CAR-T cell therapy is a cancer treatment \u200cthat uses a patient’s own \u200cgenetically modified immune cells to find and kill cancer cells.<\/p>\n The U.S. Food and Drug Administration is \u2060currently reviewing the therapy, with a decision expected \u2060by December 23 this year.<\/p>\n Upon FDA \u2060approval of anito-cel, the proposed transaction is expected to be accretive to earnings \u200bper share in \u200c2028 and thereafter.<\/p>\n Gilead will also pay Arcellx shareholders $5 per share, contingent upon the achievement of cumulative global net sales of anito-cel of at least $6 \u200bbillion from launch through \u200cyear-end 2029. <\/p>\n","protected":false},"excerpt":{"rendered":"A Gilead Sciences office is shown in Foster City, California, U.S. May 1, 2018. Stephen Lam | Reuters…\n","protected":false},"author":3,"featured_media":610586,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[35],"tags":[262145,9165,81,36603,210,1141,9166,1142,36605,36604,67,132,68,262146],"class_list":["post-610585","post","type-post","status-publish","format-standard","has-post-thumbnail","category-health-care","tag-arcellx-inc","tag-biotech-and-pharmaceuticals","tag-business-news","tag-gilead-sciences-inc","tag-health","tag-health-care","tag-health-care-industry","tag-healthcare","tag-ishares-biotechnology-etf","tag-spdr-sp-biotech-etf","tag-united-states","tag-unitedstates","tag-us","tag-vaneck-biotech-etf"],"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/610585","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=610585"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/610585\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/610586"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=610585"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=610585"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=610585"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}