Arcellx, Inc. (ACLX) FY2025 10-K Annual Report
Arcellx, Inc. (ACLX) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 26, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Arcellx, Inc. FY2025 10-K Analysis
Business Overview
- • Core business: Clinical-stage biotech developing novel D-Domain powered CAR-T immunotherapies for cancer and autoimmune diseases
- • New emphasis: ARC-SparX universal CAR-T platform and expanded non-oncology trials including Phase 1 generalized Myasthenia Gravis (gMG) dosing in 2025
- • Strategic shift: Pending acquisition by Gilead at $115/share plus $5 CVR contingent payment tied to $6B anito-cel sales milestone by 2029
- • Quantitative highlight: 117 patients dosed in pivotal Phase 2 iMMagine-1 trial with 96% overall response rate and PDUFA date set for Dec 23, 2026
- • Noteworthy fact: First filing of Biologics License Application (BLA) submitted and accepted for anito-cel in fourth line or later relapsed/refractory multiple myeloma
Risk Factors
- • Regulatory risk: Hart-Scott-Rodino Antitrust Act clearance required for Gilead merger, with timing and approval uncertainty risking deal abandonment
- • Macroeconomic risk: Global pandemics and U.S. trade policy changes may disrupt operations and third-party providers critical to business
- • Operational risk: Dependency on Kite for development and manufacturing of certain product candidates, risking supply interruptions or quality issues
- • Market disruption risk: Significant competition from other biotech/pharma companies threatens market share and operating results
- • Financial risk: Accumulated deficit of $725.8M with net losses $228.9M in 2025, requiring substantial additional funding to continue operations and development
Arcellx, Inc. FY2025 Key Financial MetricsXBRL
Revenue
$22M
▼ -79.4% YoY
Net Income
-$229M
▼ -113.3% YoY
Operating Margin
-1135.6%
▼ -100816bp YoY
Net Margin
-1027.3%
▼ -92780bp YoY
ROE
-56.9%
▼ -3330bp YoY
Total Assets
$604M
▼ -15.1% YoY
EPS (Diluted)
$-4.07
▼ -103.5% YoY
Operating Cash Flow
-$210M
▼ -151.9% YoY
Source: XBRL data from Arcellx, Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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