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Arcellx(ACLX) - 2024 Q4 - Annual Results
ACLXArcellx(ACLX)2025-02-27 21:40

Financial Performance - The company ended Q4 2024 with cash, cash equivalents, and marketable securities totaling 625.7million,whichisexpectedtofundoperationsinto2027[6][17].−Researchanddevelopmentexpensesincreasedto625.7 million, which is expected to fund operations into 2027[6][17]. - Research and development expenses increased to 157.1 million for the year ended December 31, 2024, up from 133.8millionin2023,primarilyduetohigherpersonnelcostsandexpensesrelatedtoanito−cel[8].−Generalandadministrativeexpensesroseto133.8 million in 2023, primarily due to higher personnel costs and expenses related to anito-cel[8]. - General and administrative expenses rose to 88.4 million for the year ended December 31, 2024, compared to 66.4millionin2023,drivenbyincreasedpersonnelcostsandcommercialreadinessexpenses[9].−NetlossesforQ42024were66.4 million in 2023, driven by increased personnel costs and commercial readiness expenses[9]. - Net losses for Q4 2024 were 47.1 million, compared to 19.8millioninQ42023,withtotalnetlossesfortheyearreaching19.8 million in Q4 2023, with total net losses for the year reaching 107.3 million, up from 70.7millionin2023[10][20].−Collaborationrevenuedecreasedto70.7 million in 2023[10][20]. - Collaboration revenue decreased to 15.3 million in Q4 2024 from 63.1millioninQ42023,andforthefullyear,itdecreasedslightlyto63.1 million in Q4 2023, and for the full year, it decreased slightly to 107.9 million from $110.3 million[7]. Clinical Development - Arcellx reported a 97% overall response rate and a 62% complete response rate in the pivotal iMMagine-1 study of anito-cel for relapsed or refractory multiple myeloma, with a median follow-up of 9.5 months[1][4][5]. - No delayed neurotoxicities were observed in the 155 patients dosed with anito-cel across the Phase 1 and iMMagine-1 studies[1][5]. - The median progression-free survival in the Phase 1 study was reported at 30.2 months, indicating durable benefits for patients[3]. - The company plans to commercially launch anito-cel in multiple myeloma in 2026, following positive data presentations and ongoing studies[1][3]. Research Expansion - Arcellx is expanding its ARC-SparX program in acute myeloid leukemia to include an additional SparX antigen target[3].