Arcellx(US:ACLX)2024-08-08 20:36Financial Performance - Collaboration revenue increased to $27.4 million for Q2 2024, up from $14.3 million in Q2 2023, representing a 91.5% increase [5] - Research and development expenses rose to $41.0 million in Q2 2024, compared to $28.3 million in Q2 2023, an increase of 45% [6] - General and administrative expenses increased to $21.4 million in Q2 2024, up from $15.5 million in Q2 2023, a rise of 38% [7] - Net loss for Q2 2024 was $27.2 million, compared to a net loss of $23.9 million in Q2 2023 [8] - The total stockholders' equity as of June 30, 2024, was $487.2 million, slightly up from $485.4 million at the end of 2023 [13] Milestones and Developments - Arcellx earned a $68 million milestone payment from Kite for iMMagine-1 enrollment [3] - The FDA cleared an IND application for anito-cel to treat myasthenia gravis, a chronic autoimmune disease [3] - Kite initiated the global Phase 3 trial, iMMagine-3, to evaluate anito-cel in patients exposed to an immunomodulatory drug and an anti-CD38 monoclonal antibody [3] - Arcellx submitted an abstract for the iMMagine-1 study to be presented at the 66th ASH Annual Meeting [3] Financial Position - As of June 30, 2024, Arcellx had cash, cash equivalents, and marketable securities totaling $646.8 million, expected to fund operations into 2027 [4]