Arcellx sees ‘transformational’ synergy from Kite deal for myeloma CAR T

A deal with Kite for its CART-ddBCMA therapy will help Arcellx avoid the common manufacturing hurdles faced by CAR T therapies, giving the biotech the resources that, along with early data reported Friday from the asset in multiple myeloma, suggest it is gearing up to challenge more advanced players such as Legend with what it believes could be a best-in-class therapy. 

News of the data and partnership with Kite, owned by Gilead Sciences Inc. (NASDAQ:GILD), sent Arcellx Inc. (NASDAQ:ACLX) up $6.34 (29%) to $28.02, for a gain in market cap of $278 million to $1.2 billion. ...