Gilead's $7.8 Billion Arcellx Acquisition Fuels Pipeline, Doubles Target's Stock Value

has agreed to acquire Arcellx Inc., a US-based cancer-focused biotechnology company, in a deal potentially worth up to $7.8 billion. Gilead, which already holds a 11.5% stake in Arcellx, will pay $115 per share in cash, with an additional $5 per share contingent on future sales.

This acquisition aims to bolster Gilead's drug pipeline. The offer price represents a significant premium, nearly doubling Arcellx's closing price from the previous trading day.

Arcellx shares saw a substantial increase in premarket trading following the announcement, while Gilead's stock experienced a slight dip.