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Mar 31, 2025
Arcellx Q1 2025 Earnings Report
Arcellx reported a decrease in collaboration revenue and an increase in net loss for Q1 2025 compared to Q1 2024, driven by higher operating expenses and lower interest income.
Key Takeaways
Arcellx experienced a significant increase in net loss in the first quarter of 2025, reaching -$62.27 million, compared to -$7.198 million in the same period last year. This was primarily due to a substantial decrease in collaboration revenue and a rise in research and development expenses.
Collaboration revenue decreased significantly to $8.129 million in Q1 2025 from $39.256 million in Q1 2024, primarily due to the completion of dosing and manufacturing of anito-cel in the iMMagine-1 trial.
Research and development expenses increased to $50.801 million in Q1 2025 from $32.318 million in Q1 2024, driven by costs related to other clinical and preclinical pipeline programs and higher personnel-related costs.
General and administrative expenses rose to $26.226 million in Q1 2025 from $22.748 million in Q1 2024, mainly due to increased personnel-related costs.
Net loss per share attributable to common stockholders (basic and diluted) was -$1.13 in Q1 2025, a substantial increase from -$0.14 in Q1 2024.
Revenue by Segment
Forward Guidance
Arcellx anticipates continued significant expenses and increasing operating losses in the foreseeable future as it advances its product candidates through clinical development and prepares for potential commercialization. The company believes its current cash and cash equivalents are sufficient to fund operations into 2028.
Positive Outlook
- The company expects to advance the clinical program for anito-cel and subsequent clinical trials focused on earlier lines of therapy in collaboration with its partner Kite.
- Arcellx plans to grow its supply and contract manufacturing infrastructure to support the continued development of anito-cel and other product candidates.
- The company intends to initiate clinical trials to evaluate anito-cel in other indications outside of oncology, such as generalized myasthenia gravis.
- Arcellx will continue to advance its clinical-stage ARC-SparX product candidates, ACLX-001 and ACLX-002, and other preclinical pipeline programs.
- The company aims to expand its pipeline of product candidates through its own discovery and development efforts or through acquisition or in-licensing.
Challenges Ahead
- The company expects to incur significant expenses and increasing operating losses for the foreseeable future.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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