Gilead to acquire Arcellx for $115 per share plus $5 CVR, valuing at $7.8B
Gilead Sciences will acquire Arcellx for $115 per share in cash plus one $5 contingent value right, valuing Arcellx at an implied equity value of $7.8 billion. Arcellx is focused on immunotherapies for cancer and other diseases and the acquisition remains subject to regulatory approvals.
1. Deal Terms
Gilead Sciences entered a definitive agreement to acquire Arcellx by paying $115 per share in upfront cash at closing and issuing one contingent value right worth $5 per share, payable upon achievement of specified milestones.
2. Valuation and Structure
The transaction implies an equity value of $7.8 billion for Arcellx and includes customary closing adjustments; the CVR will be earned only if Arcellx meets predefined clinical or regulatory goals.
3. Company Profile
Arcellx is a clinical-stage biotechnology company developing novel immunotherapy platforms aimed at treating cancer and other serious diseases using engineered cell therapies.
4. Closing Timeline
The acquisition is expected to close in the second half of 2026, subject to antitrust and other regulatory approvals as well as Arcellx shareholder consent.