Gilead Buys Arcellx To Fast-Track Next-Gen Myeloma Drug

On Monday, Gilead Sciences Inc. (NASDAQ:GILD) announced it is acquiring Arcellx Inc. (NASDAQ:ACLX) to enhance its long-term oncology prospects.

Gilead currently owns approximately 11.5% of Arcellx’s outstanding common stock.

Multi-Billion Dollar Cancer Deal

Gilead Sciences on Monday agreed to acquire Arcellx for $115 per share in cash, along with a contingent value right of $5 per share, totaling an implied equity value of $7.8 billion.

The acquisition aims to provide Gilead with full control over anitocabtagene autoleucel (anito-cel), a promising CAR T-cell therapy for multiple myeloma, which has already received FDA acceptance for its Biologics License Application (BLA), with an anticipated Prescription Drug User Fee Act (PDUFA) action date of December 23, 2026.

The BLA for anitocel as a fourth-line treatment for patients with relapsed or refractory multiple myeloma is supported by results from the Phase 1 study and the pivotal Phase 2 iMMagine1 study.

“This agreement reflects our conviction in the potential of anito-cel and our intention to move with speed so we can make the most of that potential for patients with multiple myeloma,” said Daniel O’Day, Chairman and Chief Executive Officer, Gilead Sciences.

In December 2025, Arcellx shared new data from its pivotal Phase 2 iMMagine-1 study.

Preliminary results from the Phase 2 iMMagine-1 study continue to demonstrate deep and durable responses with a predictable and manageable safety profile.

The acquisition is expected to accelerate the development and commercialization of anito-cel, eliminating profit-sharing and royalties associated with the previous collaboration.

Upon FDA approval of anito-cel, the proposed transaction is expected to be accretive to earnings per share in 2028 and thereafter.

Technical Analysis

The stock is currently trading 2.5% below its 20-day simple moving average (SMA) and 3.8% below its 100-day SMA, indicating a bearish short-term trend. Over the past 12 months, shares have increased by 18%, and they are currently positioned closer to their 52-week highs than lows.

The RSI is at 50.00, which is considered neutral territory, suggesting neither overbought nor oversold conditions. Meanwhile, MACD is at 0.10, below its signal line at 0.15, indicating bearish pressure on the stock.

The combination of neutral RSI and bearish MACD suggests mixed momentum.

• Key Resistance: $157.50
• Key Support: $145.00

Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $139.65. Recent analyst moves include:

• Barclays: Initiated with Equal-Weight (Target $155.00) (February 20)
• RBC Capital: Sector Perform (Raises Target to $118.00) (February 11)
• Truist Securities: Buy (Raises Target to $152.00) (February 11)

Price Action: Arcellx shares were up 78.58% at $114.49 during premarket trading on Monday. The stock is trading at a new 52-week high. Gilead Sciences shares were down 0.83% at $150.15.

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