Brief: Kite And Arcellx Announce Expansion In Strategic Partnership

Arcellx

15/11/2023 11:03

Nov 15 (Reuters) - Arcellx Inc  ACLX.O :
    * KITE AND ARCELLX ANNOUNCE EXPANSION IN STRATEGIC
PARTNERSHIP
    * ARCELLX INC - ARCELLX TO RECEIVE $200M EQUITY INVESTMENT
AT
$61.68 PER SHARE AND AN $85 MILLION UPFRONT CASH PAYMENT
    * ARCELLX INC- ARCELLX TO RECEIVE $200M EQUITY INVESTMENT AT
$61.68 PER SHARE AND AN $85 MILLION UPFRONT CASH PAYMENT
    * ARCELLX INC - KITE EXERCISES OPTION TO ARCELLX'S ARC-SPARX
PROGRAM ACLX-001 IN MULTIPLE MYELOMA
    * ARCELLX INC - FOLLOWING THIS INVESTMENT, GILEAD'S
ESTIMATED
OWNERSHIP WILL BE 13%
    * ARCELLX INC - EXPECT TRANSACTION TO REDUCE GILEAD'S GAAP
AND
NON-GAAP 2023 EPS BY APPROXIMATELY $0.09-$0.11 PER SHARE
    * ARCELLX - TO RECEIVE $200 MILLION EQUITY INVESTMENT TO
PURCHASE
3.2 MILLION SHARES OF COMMON STOCK, WHICH IS EXPECTED TO EXTEND
CO'S CASH RUNWAY INTO 2027

Source text for Eikon:  ID:nBw6hpwX1a 
Further company coverage:  ACLX.O 

 ((Reuters.Briefs@thomsonreuters.com))