$80 Million Arcellx Sale Follows Steep Stock Drop as Rival Drug Emerges

Perceptive Advisors sold over a million shares of Arcellx, valued at nearly $80 million, following a significant drop in Arcellx’s stock price. This sale comes as a new rival drug delivery model emerged, causing market concern for Arcellx. Despite the stock drop, analysts suggest the sell-off might be overdone, given Arcellx’s advanced clinical position with its anito-cel therapy.