Arcellx, Inc., together with its subsidiary, engages in the development of various immunotherapies for patients with cancer and other incurable diseases in the United States. The company's lead ddCAR product candidate is anitocabtagene autoleucel, which is in phase 2 clinical trial for the treatment of patients with relapsed or refractory multiple myeloma (rrMM). It also develops ACLX-001, a product candidate in Phase 1 clinical trials targeting BCMA to treat rrMM; and ACLX-002, which is in Phase 1 clinical trials that targets CD123 for treating relapsed or refractory acute myeloid leukemia (AML) and myelodysplastic syndrome (MDS). In addition, the company preclinical product includes ACLX-004 for the treatment of AML and MDS. Further, the company focuses on the development of product candidates for solid tumor programs. It has a strategic alliance with Kite Pharma, Inc. to co-develop and co-commercialize nito-cel and next-generation autologous and non-autologous CAR-T cell therapy products. The company was formerly known as Encarta Therapeutics, Inc. and changed its name to Arcellx, Inc. in January 2016. Arcellx, Inc. was incorporated in 2014 and is headquartered in Redwood City, California. As of April 28, 2026, Arcellx, Inc. operates as a subsidiary of Gilead Sciences, Inc.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $22M | $-222M | $-229M | $-213M | -56.9% | -79.4% | 113.3% |
| 2024 | $108M | $-99M | $-107M | $-97M | -23.6% | -2.2% | 51.9% |
| 2023 | $110M | $-64M | $-71M | $186M | -14.6% | - | -62.5% |
| 2022 | $0M | $-186M | $-189M | $-102M | -92.1% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 0 | 110.32 | 107.94 | 22.29 |
| Operating Revenue | - | 0 | 110.32 | 107.94 | 22.29 |
| Operating Expense | - | 191.26 | 200.20 | 245.51 | 275.37 |
| Research And Development | - | 149.56 | 133.85 | 157.09 | 157.61 |
| Selling General And Administration | - | 41.70 | 66.35 | 88.41 | 117.76 |
| Total Expenses | - | 191.26 | 200.20 | 245.51 | 275.37 |
| Operating Income | - | -191.26 | -89.88 | -137.57 | -253.08 |
| Total Operating Income As Reported | - | -191.26 | -89.88 | -137.57 | -253.08 |
| EBITDA | - | -185.64 | -64.14 | -99.06 | -222.19 |
| Normalized EBITDA | - | -185.64 | -64.14 | -99.06 | -222.19 |
| EBIT | - | -186.96 | -66.18 | -104.25 | -228.86 |
| Interest Income | - | 4.30 | 23.70 | 33.32 | 24.22 |
| Interest Expense | - | 1.72 | 3.84 | 1.03 | 0 |
| Net Interest Income | - | 2.58 | 19.85 | 32.29 | 24.22 |
| Other Non Operating Income Expenses | 0.05 | - | - | - | - |
| Other Income Expense | 0.05 | - | - | - | - |
| Interest Income Non Operating | - | 4.30 | 23.70 | 33.32 | 24.22 |
| Interest Expense Non Operating | - | 1.72 | 3.84 | 1.03 | 0 |
| Net Non Operating Interest Income Expense | - | 2.58 | 19.85 | 32.29 | 24.22 |
| Pretax Income | - | -188.68 | -70.03 | -105.28 | -228.86 |
| Tax Provision | - | 0 | 0.66 | 2.07 | 0.07 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | -188.68 | -70.69 | -107.35 | -228.93 |
| Net Income From Continuing And Discontinued Operation | - | -188.68 | -70.69 | -107.35 | -228.93 |
| Net Income From Continuing Operation Net Minority Interest | - | -188.68 | -70.69 | -107.35 | -228.93 |
| Net Income | - | -188.68 | -70.69 | -107.35 | -228.93 |
| Net Income Common Stockholders | - | -188.68 | -70.69 | -107.35 | -228.93 |
| Net Income Including Noncontrolling Interests | - | -188.68 | -70.69 | -107.35 | -228.93 |
| Normalized Income | - | -188.68 | -70.69 | -107.35 | -228.93 |
| Diluted NI Availto Com Stockholders | - | -188.68 | -70.69 | -107.35 | -228.93 |
| Basic Average Shares | 33.54 | 36.36 | 48.06 | 53.57 | - |
| Diluted Average Shares | 33.54 | 36.36 | 48.06 | 53.57 | - |
| Reconciled Depreciation | - | 1.32 | 2.04 | 5.19 | 6.68 |
| General And Administrative Expense | - | 41.70 | 66.35 | 88.41 | 117.76 |
| Other Gand A | - | 41.70 | 66.35 | 88.41 | 117.76 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Arcellx, Inc.this co. | ACLX | $6.7B | -29.41 | 16.73 | -56.9% | -30.17 |
| HealthEquity, Inc. | HQY | $7.2B | 33.42 | 3.41 | 10.2% | 16.10 |
| Oscar Health, Inc. | OSCR | $7.1B | -16.06 | 7.28 | -45.3% | - |
| Vaxcyte, Inc. | PCVX | $7.0B | -9.18 | 2.62 | -28.5% | -7.77 |
| Apogee Therapeutics, Inc. | APGE | $6.9B | -26.79 | 7.58 |
| - |
| - |
| - |
| - |
| -28.3% |
| -23.68 |
| Spyre Therapeutics, Inc. | SYRE | $6.8B | - | 9.53 | -21.7% | - |
| Immunovant, Inc. | IMVT | $6.7B | -13.27 | 7.87 | -59.3% | -10.90 |
| Lantheus Holdings, Inc. | LNTH | $6.7B | 28.66 | 6.14 | 21.4% | 17.23 |
| Hims & Hers Health, Inc. | HIMS | $6.5B | 50.51 | 11.99 | 23.7% | 46.06 |
| Peer Median | - | -9.18 | 7.43 | -25.0% | 4.16 | |