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ACLX

Arcellx, Inc.

ACLX

Arcellx, Inc. • NASDAQ
$72.71 ▼ -0.74% (-0.54)
Market Cap $4.03 B
52w High $96.39
52w Low $47.86
Dividend Yield 0%
P/E -18.5
Volume 451.95K
Outstanding Shares 55.40M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $4.949M ▼ $31.637M ▼ $-55.781M ▼ -1.127K% ▼ $-0.99 ▼ $-53.938M ▼
Q2-2025 $7.554M ▼ $66.28M ▼ $-52.771M ▲ -698.584% ▲ $-0.94 ▲ $-51.124M ▲
Q1-2025 $8.129M ▼ $77.027M ▲ $-62.27M ▼ -766.023% ▼ $-1.13 ▼ $-60.682M ▼
Q4-2024 $15.266M ▼ $68.418M ▲ $-47.081M ▼ -308.404% ▼ $-0.88 ▼ $-43.78M ▼
Q3-2024 $26.03M $59.646M $-25.867M -99.374% $-0.48 $-24.196M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $461.383M ▲ $655.918M ▲ $215.141M ▼ $440.777M ▲
Q2-2025 $453.103M ▼ $619.086M ▼ $226.863M ▼ $392.223M ▼
Q1-2025 $543.265M ▼ $648.082M ▼ $231.176M ▼ $416.906M ▼
Q4-2024 $587.375M ▲ $711.327M ▼ $256.535M ▼ $454.792M ▼
Q3-2024 $574.254M $764.909M $281.891M $483.018M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-55.781M ▼ $-49.207M ▼ $-20.026M ▼ $86.1M ▲ $16.867M ▲ $-49.503M ▼
Q2-2025 $-52.771M ▲ $-39.731M ▲ $10.741M ▼ $10.257M ▲ $-18.733M ▲ $-40.218M ▲
Q1-2025 $-62.27M ▼ $-63.145M ▼ $37.784M ▲ $543K ▲ $-24.818M ▲ $-63.925M ▼
Q4-2024 $-47.081M ▼ $-46.03M ▼ $-4.12M ▼ $-6.017M ▼ $-56.167M ▼ $-47.529M ▼
Q3-2024 $-25.867M $30.719M $35.76M $-4.658M $61.821M $28.429M

Five-Year Company Overview

Income Statement

Income Statement Arcellx is still in the “pre-commercial” stage. Revenue is minimal and only recently started to appear, likely from collaborations rather than product sales. The company’s spending on research, clinical trials, and overhead clearly outweighs these early revenues, so operating losses are significant. Losses widened sharply a couple of years ago and then improved somewhat more recently, but the business is still firmly loss-making. This is typical for a clinical-stage biotech: the financial story will largely depend on whether its lead programs successfully reach approval and commercialization.

Balance Sheet

Balance Sheet The balance sheet shows a company that was significantly strengthened by its IPO and partnership funding, with assets and equity rising meaningfully over the last few years. Cash levels built up and then stepped down more recently, which suggests ongoing cash burn as trials progress, but cash still represents a major portion of total assets. Debt exists but is modest relative to equity, so leverage does not appear to be a central concern right now. Overall, Arcellx looks reasonably well-capitalized for a biotech at its stage, with a cushion to advance its pipeline, supported by the Kite partnership that management expects to extend the cash runway for several more years.

Cash Flow

Cash Flow Cash flow patterns reflect the transition from pure funding mode to collaboration-supported development. Historically, the company consumed cash from operations as it invested in R&D. In the most recent years, there was a notable positive swing in operating cash flow, likely driven by upfront or milestone payments from partners, but this is not a stable, recurring source like product revenue. Free cash flow is generally negative once you factor in ongoing investment in the business, although capital spending is relatively light. Arcellx still depends on external capital and partnership inflows to fund its development, which is typical for a company without approved products.

Competitive Edge

Competitive Edge Arcellx’s competitive position rests on differentiated science in a crowded and high-stakes field. Its D-Domain technology is designed to be smaller, more stable, and potentially safer than traditional CAR-T designs, which could matter a lot for both clinical outcomes and manufacturing. Early data for its lead multiple myeloma therapy suggest strong efficacy with a cleaner safety profile, especially around neurotoxicity, which is a key concern with existing treatments. The collaboration with Kite (a Gilead company) adds substantial credibility, resources, and commercial know-how, giving Arcellx a partner with real-world cell therapy experience. At the same time, the company competes against very large pharmaceutical players with approved products, so execution on trials, regulatory filings, and manufacturing will be critical to sustaining any edge.

Innovation and R&D

Innovation and R&D Arcellx is highly innovation-driven. Its core D-Domain platform underpins two main approaches: a more traditional one-time CAR-T product (ddCAR) and the modular ARC-SparX system, which separates targeting from T-cell activation and could allow more precise control and easier retargeting of cancers. The lead program, anito-cel for multiple myeloma, is relatively advanced and central to the story. Behind it, ARC-SparX candidates are moving through early trials in blood cancers, with ambitions to expand into solid tumors over time. This platform-style R&D strategy, while expensive and risky, offers the potential to generate multiple products from the same underlying technology if early clinical promise holds up.

Summary

Arcellx is a clinical-stage biotech focused on next-generation cell therapies, with a distinctive technology platform and a flagship program in multiple myeloma. Financially, it remains in the investment phase: revenues are tiny, losses are sizable, and cash burn is ongoing, though partially offset by collaboration payments. The balance sheet is relatively solid for its stage, with meaningful cash and moderate debt, and the Kite partnership provides both funding support and operational strength. The main upside driver is the potential of its D-Domain and ARC-SparX platforms to deliver safer, effective therapies across several cancers; the main risks are clinical, regulatory, and competitive, as any setback in key trials or approval processes would weigh heavily on a company with a concentrated pipeline. Overall, Arcellx is a high-innovation, high-uncertainty story typical of early-stage biotech, where future outcomes hinge on successful execution of its clinical and regulatory milestones.

NEWS

November 18, 2025 · 4:00 PM UTC

Arcellx to Host Investor Relations Event During the 67th ASH Annual Meeting and Exposition

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November 5, 2025 · 4:00 PM UTC

Arcellx Provides Third Quarter 2025 Financial Results

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