Late Stage Mature Pre IPO Unicorns -

Cancer biotech Arcellx prices 8.25M-share IPO at $15

By Meghavi Singh,

  • The Gaithersburg, MD-based Arcellx (ACLX) has priced its IPO of 8.25M shares of common stock at $15.00/share, for expected gross proceeds of ~$123.8M.

  • The company initially filed to offer offer 8.3M shares in the range of $15 to $17 per share.
  • In early January, the company said in a filing that it was seeking to raise up to $100M.
  • Underwriters’ over-allotment is an additional 1.24M shares.
  • Nasdaq trading will commence today on February 4, 2022.
  • Closing date is Feb.08.
  • The biotech company’s lead ddCAR candidate, CART-ddBCMA, is in Phase 1 development for the treatment of relapsed or refractory (r/r) multiple myeloma (MM). The company believes preliminary results from the trial demonstrate that D-Domains can potentially provide meaningful clinical benefits. Arcellx plans to initiate a Phase 2 pivotal trial of CART-ddBCMA for treatment of r/r MM in late 2022, as well as pursue development of the candidate in earlier lines of therapy.
  • Arcellx is still operating in the red. For the nine months ended Sept. 30, 2021, the company reported a net loss of $44M, compared with a net loss of $23M for the prior year. No revenue was reported for either year.
  • BofA Securities, SVB Leerink, Barclays, and William Blair are the joint bookrunners on the deal.
  • SA contributor Avisol Capital Partners recently took a closer look at Arcellx and its pipeline.

Source :