$80 Million Arcellx Sale Follows Steep Stock Drop as Rival Drug Emerges

Company Overview - Arcellx is a clinical-stage biotechnology company focused on proprietary cell therapy platforms to address unmet medical needs in oncology [5] - The company has a specialized pipeline targeting multiple myeloma and hematologic malignancies, positioning itself at the forefront of next-generation immunotherapies [5] - As of February 17, 2026, Arcellx's market capitalization is $4.06 billion, with a revenue of $35.90 million and a net income of -$217.90 million [4] Recent Developments - Perceptive Advisors disclosed a sale of 1,002,282 shares of Arcellx, valued at approximately $79.96 million, during the fourth quarter of 2026 [2][1] - The quarter-end value of Arcellx's position declined by $107.06 million, reflecting both the share reduction and share price movements [2] - Arcellx shares were priced at $70.20, representing a 9.2% increase over the past year, but underperforming the S&P 500 by 4.3 percentage points [7] Pipeline and Product Focus - Arcellx develops immunotherapies, primarily focusing on CART-ddBCMA for relapsed or refractory multiple myeloma, with additional candidates targeting acute myeloid leukemia, myelodysplastic syndrome, and solid tumors [8] - The company's anito-cel is in Phase 3 trials for relapsed or refractory multiple myeloma in partnership with Gilead's Kite unit, indicating a more advanced position compared to early proof-of-concept data [10] Market Position and Competition - The recent share sale by Perceptive Advisors indicates a strategic move as Arcellx faces competition not only from other approved CAR-T therapies but also from new delivery models [6] - The volatility in Arcellx's stock price highlights the rapid shifts in sentiment within the biotechnology sector, particularly following data releases and market reactions [9][10] - Analysts from Guggenheim and Citi suggested that the sell-off following a three-patient data set was overdone, indicating potential for recovery [9]