Arcellx(US:ACLX)2025-11-05 21:10Financial Performance - The company reported a net loss of $170.8 million for the nine months ended September 30, 2025, compared to a net loss of $60.3 million for the same period in 2024, resulting in an accumulated deficit of $667.7 million[80]. - Net cash used in operating activities for the nine months ended September 30, 2025, was $152.1 million, compared to $37.4 million in 2024[118]. - The company expects to incur substantial additional losses in future periods as it continues product development and seeks regulatory approvals[116]. Revenue and Expenses - Collaboration revenue decreased to $4.949 million for the three months ended September 30, 2025, down from $26.030 million in 2024, reflecting a change of $21.081 million[103]. - For the nine months ended September 30, 2025, collaboration revenue was $20.6 million, down from $92.7 million in the same period of 2024, a decrease of $72.0 million[110]. - Total operating expenses increased to $66.725 million for the three months ended September 30, 2025, compared to $59.646 million in 2024, an increase of $7.079 million[103]. - General and administrative expenses rose to $31.637 million for the three months ended September 30, 2025, compared to $20.473 million in 2024, an increase of $11.164 million[103]. - General and administrative expenses for the nine months ended September 30, 2025, rose to $86.5 million from $64.6 million in 2024, an increase of $21.9 million[112]. - Research and development expenses were $35.088 million for the three months ended September 30, 2025, down from $39.173 million in 2024, a decrease of $4.085 million[103]. - Total research and development expenses for the nine months ended September 30, 2025, were $123.5 million, an increase of $11.1 million from $112.4 million in 2024[111]. Cash Position - The company sold 1,905,715 shares of common stock in at-the-market offerings for total net proceeds of $131.6 million in 2025[82]. - As of September 30, 2025, the company had cash and cash equivalents and marketable securities totaling $576.0 million[115]. - The company believes its current cash and cash equivalents are adequate to fund operations into 2028[83]. - The company expects to continue incurring significant operating losses and increasing expenses in the foreseeable future due to ongoing research and development activities[80]. Product Development - The company has received FDA clearance for the IND application for ACLX-004, targeting CD33 and CD123 in relapsed or refractory acute myeloid leukemia[78]. - The company is developing a BCMA-targeting ddCAR product candidate called "anito-cel," currently in pivotal Phase 2 and Phase 3 trials for relapsed or refractory multiple myeloma[76].