Gilead Closes $7.8 Billion Arcellx Deal to Take Full Control of Anito‑cel

Overview

• Gilead completed the Arcellx acquisition Tuesday after a tender offer and short‑form merger that made Arcellx a wholly owned subsidiary.
• Shareholders received $115 in cash plus a non‑transferable $5 contingent value right per share, which pays only if anito‑cel reaches $6.0 billion in global sales through 2029.
• The deal gives Gilead sole rights to anito‑cel, a BCMA‑targeted CAR T therapy that engineers a patient’s T cells to attack myeloma, and it will be advanced within Kite using Arcellx’s D‑Domain binder; the therapy holds FDA Fast Track, Orphan Drug and RMAT designations.
• Gilead said the transaction will cut 2026 diluted EPS by about $5.57 to $5.67 and, excluding certain R&D charges, is expected to be modestly dilutive in 2026–2027 with potential accretion starting in 2028 if FDA approval comes through.
• Approximately 77.2% of Arcellx shares were tendered before the merger closed, and the company’s common stock will be delisted from the Nasdaq Global Select Market.