February 24, 2026 — Foster City, CA & Redwood City, CA:
Gilead Sciences, Inc. (Nasdaq: GILD) today revealed a definitive agreement to acquire biotechnology firm Arcellx, Inc. (Nasdaq: ACLX) in a transaction valued at approximately $7.8 billion, reinforcing its strategic commitment to cell therapy innovation and oncology leadership.
Under the terms, Gilead will pay $115 per share in cash at closing, plus a contingent value right (CVR) of $5 per share tied to cumulative global net sales of anito-cel reaching $6 billion by year-end 2029. The agreement represents a significant premium to Arcellx’s recent trading levels.
Strategic Rationale: Full Control of a High-Potential CAR-T Asset
The acquisition builds on Gilead’s existing collaboration with Arcellx — through its cell therapy subsidiary Kite Pharma — to co-develop and co-commercialize anitocabtagene autoleucel (anito-cel), a BCMA-directed CAR-T cell therapy designed for patients with relapsed or refractory multiple myeloma. The therapy has shown deep and durable responses in clinical studies, with a balanced safety profile supporting its ongoing regulatory process.
The U.S. Food and Drug Administration has accepted a Biologics License Application (BLA) for anito-cel as a fourth-line treatment for multiple myeloma, with a PDUFA decision date expected in December 2026.
Daniel O’Day, Chairman and CEO of Gilead, emphasized the company’s conviction in the therapy’s potential:
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“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.”
By securing full ownership, Gilead eliminates profit-share arrangements, milestone obligations, and royalties, enabling accelerated development, commercialization and strategic alignment within its broader oncology franchise.
Platform Synergies and Future Growth Potential
Beyond the lead asset, Arcellx brings proprietary D-Domain CAR technology with improved target specificity and binding characteristics, offering strategic leverage for next-generation cell therapies. Gilead plans to integrate this platform into ongoing and future innovation efforts across both oncology and in-vivo cell therapy landscapes.
If the anito-cel BLA results in approval, Gilead anticipates the transaction will be accretive to earnings per share by 2028 and beyond, strengthening its position in the competitive multiple myeloma CAR-T market.
Market and Industry Implications
The deal marks one of Gilead’s most significant acquisitions since its $21 billion purchase of Immunomedics in 2020 and underscores the company’s strategic pivot toward cell therapy and immuno-oncology growth drivers. It also highlights broader industry momentum toward “living drugs” and advanced immunotherapies as next-generation treatment pillars.
Arcellx shares surged sharply on the news, reflecting investor confidence in the transaction and the perceived commercial runway for anito-cel.
The transaction has been approved by both Boards of Directors and is expected to close in the second quarter of 2026, subject to customary conditions and regulatory review. Upon completion, Gilead will oversee full global development and commercialization of anito-cel, positioning the company to expand its footprint in the rapidly evolving cell therapy market.
Source: Gilead Sciences press release
