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BioPharma Dive is testing out a new format rounding up smaller updates from around the industry. Have thoughts on what could make this type of story better? Drop us a line!Today, a brief rundown of news from iTeos Therapeutics, as well as notes on Gilead, Acelyrin and Bluebird bio that you may have missed yesterday:Shares in iTeos Therapeutics jumped by nearly 40% Friday morning after the biotechnology company gave an update on a clinical trial of a cancer drug combination its studying with GSK. Interim data surpassed iTeos pre-defined efficacy criteria for clinically relevant activity, the company said. The study is testing iTeos anti-TIGIT antibody together with GSKs PD-1 inhibitor Jemperli in first-line treatment of non-small cell lung cancer.Ned PagliaruloBluebird bio made national headlines in The New York Times this week with news it had collected the cells of the first patient set to undergo treatment with its sickle cell disease therapy Lyfgenia. In an earnings update Thursday, the company disclosed that, so far this year, 14 patients have started the treatment process for its other two marketed gene therapies 11 for Zynteglo, which treats severe beta thalassemia, and 3 for Skysona, approved for a rare brain disorder. Bluebird expects between 85 and 105 patient starts for its three therapies this year. Ned PagliaruloImmune drug developer Acelyrin said Thursday that founder Shao-Lee Lin has stepped down as CEO and will be replaced by current chief legal and administrative officer Mina Kim. The biotech raised $540 million in an initial public offering last year, but has lost much of its value after hitting a clinical trial setback in September. Ben FidlerGilead Sciences and partner Arcellx on Thursday afternoon disclosed the design of a Phase 3 trial they plan to run testing a CAR-T therapy in people with relapsed or refractory multiple myeloma. The therapy, dubbed anito-cel, targets a protein called BCMA, similar to the approved cell therapies Carvykti, from Johnson & Johnson, and Abecma, from Bristol Myers Squibb.Ned Pagliarulo '

REDWOOD CITY, Calif.--(BUSINESS WIRE)-- 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 reported business highlights and financial results for the first quarter ended March 31, 2024. First Quarter 2024 Financial Highlights Cash, cash equivalents, and marketable securities: As of March 31, 2024, Arcellx had cash, cash equivalents, and marketable securities of $691.0 million. Arcellx anticipates that its cash, cash equivalents, and marketable securities will fund its operations into 2027. Collaboration revenue: Collaboration revenue were $39.3 million and $17.9 million for the quarters ended March 31, 2024 and 2023, respectively, an increase of $21.4 million. This increase was primarily driven by changes in estimated transaction price used in calculating collaboration revenue under the license and collaboration agreement and amendment with Kite Pharma, Inc. (Kite). R&D expenses: Research and development expenses were $32.3 million and $32.9 million for the quarters ended March 31, 2024 and 2023, respectively, a decrease of $0.6 million. This decrease was primarily driven by a decrease in costs associated with our anito-cel clinical program, with such costs primarily relating to expenses associated with our Lonza manufacturing services agreement. The decrease was partially offset by increased personnel costs, which includes non-cash stock-based compensation expense. G&A expenses: General and administrative expenses were $22.7 million and $15.4 million for the quarters ended March 31, 2024 and 2023, respectively, an increase of $7.3 million. This increase was primarily driven by increased personnel costs, which includes non-cash stock-based compensation expense. Net income or loss: Net loss was $7.2 million and $27.3 million for the quarters ended March 31, 2024 and 2023, respectively. About Arcellx, Inc. 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, anito-cel, is being developed for the treatment of relapsed or refractory multiple myeloma (rrMM) in a Phase 2 pivotal trial. Anito-cel has been granted Fast Track, Orphan Drug, and Regenerative Medicine Advanced Therapy designations by the U.S. Food and Drug Administration. Arcellx is also developing its dosable and controllable CAR T therapy, ARC-SparX, through two Phase 1 programs, ACLX-001 for rrMM and ACLX-002 in relapsed or refractory acute myeloid leukemia and high-risk myelodysplastic syndrome. For more information on Arcellx, please visit . Follow Arcellx on X (Twitter) at @arcellx and LinkedIn. Forward-looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements in this press release that are not purely historical are forward-looking statements, including, without limitation, Arcellx's plans for the research, pre-clinical and clinical development of its product candidates; Arcellx's expectations regarding the potential impact of its product candidates and platforms on patients and cell therapy; and the sufficiency of cash, cash equivalents and marketable securities and Arcellx's ability to fund operations through certain regulatory milestones and timelines. The forward-looking statements contained herein are based upon Arcellx's current expectations and involve assumptions that may never materialize or may prove to be incorrect. These forward-looking statements are neither promises nor guarantees and are subject to a variety of risks and uncertainties, including risks that may be found in the section entitled Part II, Item 1A (Risk Factors) in the Quarterly Report on Form 10-Q for the quarter ended March 31, 2024, filed with the Securities and Exchange Commission (SEC) on or about the date hereof, and the other documents that Arcellx may time to time with the SEC. These forward-looking statements are made as of the date of this press release, and Arcellx assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. ARCELLX, INC. SELECTED CONSOLIDATED BALANCE SHEET DATA (in thousands) March 31, December 31, 2024 2023 Cash, cash equivalents, and marketable securities $ 691,021 $ 729,185 Total assets 779,695 825,132 Total liabilities 283,122 339,752 Total stockholders' equity 496,573 485,380 ARCELLX, INC. CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (in thousands, except share and per share amounts) Three Months Ended March 31, 2024 2023 Revenue $ 39,256 $ 17,912 Operating expenses: Research and development 32,318 32,932 General and administrative 22,748 15,437 Total operating expenses 55,066 48,369 Loss from operations (15,810 ) (30,457 ) Other income, net 8,612 3,442 Loss before income taxes (7,198 ) (27,015 ) Income tax expense — 329 Net loss (7,198 ) (27,344 ) Other comprehensive loss: Unrealized gain (loss) on marketable securities (1,059 ) 307 Comprehensive loss $ (8,257 ) $ (27,037 ) Net loss per share attributable to common stockholders—basic and diluted $ (0.14 ) (0.58 ) Weighted-average common shares outstanding—basic and diluted 52,757,973 46,769,380 View source version on businesswire.com: Contacts Investors: Myesha Lacy ir@arcellx.com 510-418-2412 Media: Andrea Cohen Sam Brown Inc. andreacohen@sambrown.com 917-209-7163 Source: Arcellx, Inc. 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