Gilead Sciences announced the completion of its previously announced acquisition of Arcellx, Inc. Under the terms of the transaction, Gilead acquired Arcellx for USD 115 per share in cash, plus one non-transferable Contingent Value Right (CVR) of USD 5 per share, representing a total implied equity value of approximately USD 7.8 billion at the time of closing.

The acquisition builds on Kite, a Gilead Company, and Arcellx’s successful collaboration and provides Gilead with full control of anitocabtagene autoleucel (anito-cel), an investigational BCMA-directed CAR T-cell therapy for multiple myeloma. By consolidating ownership of anito-cel and eliminating future profit-share, milestone and royalty obligations, Gilead is positioned to accelerate development, streamline decision-making and maximise the long-term potential of the program.

Cindy Perettie, Executive Vice President and Global Head, Kite, said, “With the Arcellx acquisition, our focus turns to executing with speed and discipline as we prepare to bring anito-cel to patients. I want to thank the Arcellx team for their scientific leadership, close collaboration to date and deep expertise they bring as we advance anito-cel. With this acquisition, anito-cel and the differentiated D-Domain BCMA binder will advance within Kite, combining this science with our global manufacturing, regulatory and commercial capabilities to unlock the full value of this potentially transformative therapy for people living with multiple myeloma.”

On April 28, 2026, Gilead completed its tender offer for all outstanding shares of common stock of Arcellx and accepted for payment all shares validly tendered and not validly withdrawn as of the expiration time of the tender offer, which shares represented, together with shares already owned by Gilead, approximately 77.2 percent of Arcellx’s outstanding shares.

Following completion of the offer, Gilead completed the acquisition of Arcellx through a merger of Gilead’s wholly owned subsidiary with and into Arcellx, in which shares of Arcellx common stock were cancelled and converted into the right to receive the same USD 115 per share in cash and one CVR of USD 5 per share as shares tendered in the offer.

The CVR is payable upon achievement of cumulative global net sales of anito-cel of at least USD 6.0 billion from launch through the end of 2029.