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Jun 30, 2023
Arcellx Q2 2023 Earnings Report
Arcellx announced the lifting of the partial clinical hold on its iMMagine-1 Phase 2 Clinical Program and reported second quarter financial results.
Key Takeaways
Arcellx reported collaboration revenue of $14.3 million, research and development expenses of $28.3 million, general and administrative expenses of $15.5 million, and a net loss of $23.9 million for the second quarter ended June 30, 2023. The FDA lifted the partial clinical hold on the iMMagine-1 Phase 2 Clinical Program.
FDA lifted the partial clinical hold on the iMMagine-1 Phase 2 Clinical Program.
Arcellx anticipates presenting preliminary data from the iMMagine-1 study in the second half of 2024.
Collaboration revenue was $14.3 million for the quarter ended June 30, 2023, stemming from the Kite Pharma agreement.
Arcellx had cash, cash equivalents, and marketable securities of $506.5 million as of June 30, 2023, expected to fund operations into 2026.
Forward Guidance
Arcellx expects to present preliminary data from the iMMagine-1 study in the second half of 2024 and anticipates commercial launch of CART-ddBCMA to be in 2026.
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