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Stock impact report

Gilead to acquire cancer therapy developer Arcellx for up to $7.8 billion [CNBC]

Gilead Sciences, Inc. (GILD) 
Last gilead sciences, inc. earnings: 4/30 04:01 pm Check Earnings Report
US:NASDAQ Investor Relations: investors.gilead.com
Company Research Source: CNBC
Gilead Sciences said on Monday it ?will buy cancer therapy partner Arcellx for an implied equity ?value of $7.8 ?billion, expanding ?their cell therapy development collaboration that started in 2022. Shares of Arcellx climbed 77.8% to $113.99 while ?Gilead fell ?about 1% in premarket ?trading. Gilead will pay $115 per share in cash at the deal's closing, which is at a premium of 79% ?to the stock's last close. Kite Pharma, a unit of Gilead Sciences, ?was partnering with Arcellx to jointly develop and sell anito-cel, an experimental CAR-T therapy for multiple myeloma, a type ?of blood cancer. CAR-T cell therapy is a cancer treatment ?that uses a patient's own ?genetically modified immune cells to find and kill cancer cells. The U.S. Food and Drug Administration is ?currently reviewing the therapy, with a decision expected ?by December 23 this year. Upon FDA ?approval of anito-cel, the proposed transaction is expected to be accretive to earnings ?per share in ?2028 and ther Show less Read more
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