Gilead Sciences has closed its acquisition of Arcellx in a deal valued at about $7.8 billion, paying $115 per share in cash plus a $5 contingent value right for each share.
The transaction gives Gilead full control of anitocabtagene autoleucel, or anito-cel, a BCMA-directed CAR T-cell therapy for multiple myeloma. Gilead said the acquisition eliminates future profit-share, milestone and royalty obligations tied to the program, and moves anito-cel fully under Kite, its cell therapy unit.
Gilead said it completed a tender offer for all outstanding Arcellx shares and accepted shares representing, together with stock it already owned, about 77.2% of Arcellx’s outstanding shares. After that, Gilead finished the merger and converted Arcellx shares into the same $115 cash payment and one $5 CVR per share.
The CVR will pay out if cumulative global net sales of anito-cel reach at least $6.0 billion from launch through the end of 2029.
Gilead said the deal is expected to reduce its 2026 diluted EPS by about $5.57 to $5.67 on both a GAAP and non-GAAP basis. Excluding acquired in-process research and development expenses, the company said the transaction should be modestly dilutive in 2026 and 2027, then accretive in 2028 and beyond, assuming FDA approval of anito-cel.
Arcellx is now a wholly owned subsidiary of Gilead, and its common stock will be delisted from Nasdaq. As a result of these announcements, the company's shares have moved -2.42% on the market, and are now trading at a price of $130.40. If you want to know more, read the company's complete 8-K report here.
