Canaccord Genuity Acted as Joint Bookrunner to Arcellx on its Upsized Public Follow-On Offering
Arcellx, Inc. (NASDAQ: ACLX), a biotechnology company reimagining cell therapy through the development of innovative immunotherapies for patients with cancer and other incurable diseases, today announced the pricing of an upsized underwritten follow-on offering of 7,000,000 shares of common stock at a price to the public of $16.00 per share. The offering was upsized to 7,000,000 shares of Arcellx's common stock from the original offering size of 4,000,000 shares. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Arcellx, are expected to be $112 million. In addition, Arcellx has granted the underwriters a 30-day option to purchase up to an additional 1,050,000 shares of common stock on the same terms and conditions. The offering is expected to close on June 21, 2022, subject to the satisfaction of customary closing conditions. All of the shares in the proposed offering will be sold by Arcellx.
Arcellx, Inc. is a clinical-stage biotechnology company reimagining cell therapy by engineering innovative immunotherapies for patients with cancer and other incurable diseases. Arcellx believes that cell therapies are one of the forward pillars of medicine, and Arcellx’s mission is to advance humanity by developing cell therapies that are safer, more effective, and more broadly accessible. Arcellx’s lead product candidate, CART-ddBCMA, is being developed for the treatment of relapsed or refractory multiple myeloma (r/r MM) in an ongoing Phase 1 study. CART-ddBCMA has been granted Fast Track, Orphan Drug, and Regenerative Medicine Advanced Therapy designations by the U.S. Food and Drug Administration. Arcellx is also advancing its dosable and controllable CAR-T therapy, ARC-SparX, through two programs: a Phase 1 study of ACLX-001 for r/r MM, initiated in the second quarter of 2022; and ACLX-002 in relapsed or refractory acute myeloid leukemia and high-risk myelodysplastic syndrome, expected to enter the clinic in the second half of 2022.
The Canaccord Genuity team consisted of Eugene Rozelman, Bernard Yuen, Jennifer Pardi, Tara Hartigan, Brian O’Connor, Mike Wright, Tyler Chamberland, Esther Lee, Brooke Szczygiel, Calvin Reif, Sean Pritchett, and Catherine Guanci.
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