Arcellx slides on stock offering

Arcellx

14/06/2022 15:15

** Arcellx Inc  ACLX.O  shares down 12.7% at $18.95 early
Tues as biotech firm looks to raise equity about four months
since going public
    ** Co to sell 4 mln shares, per SEC filing https://www.sec.gov/Archives/edgar/data/1786205/000119312522173436/d332508ds1.htm#toc129231_7
    ** Co to use net offering proceeds to fund lead CAR-T drug
candidate to treat multiple myeloma (bone marrow cancer), other
drugs in pipeline
    ** BofA and SVB Secs leading the offering, on tap to price
Thurs after market close
    ** Co in Feb raised ~$142 mln, including full overallotment
option, in IPO priced at $15  urn:newsml:reuters.com:*:nL1N2UF1MY  urn:newsml:reuters.com:*:nGNX7h2Zj0
    ** Shares hit peak of $26.91 on Fri

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))