Rami Elghandour, Arcellx CEO

Biotech bear mar­ket be damned, CAR-T play­er Ar­cel­lx rais­es $123M IPO

The cur­rent biotech bear mar­ket doesn’t mean it’s im­pos­si­ble for a new biotech to have a suc­cess­ful IPO, mere­ly hard­er.

On Fri­day, CAR-T com­pa­ny Ar­cel­lx an­nounced it priced its IPO at $15 per share, rais­ing $123.8 mil­lion.

Al­though $15 was the low end of the com­pa­ny’s pro­posed range and the over­all to­tal falls short of the New York Yan­kees pay­roll-sized hauls even ear­ly-stage biotechs were able to col­lect in the sum­mer and fall of 2020, it still amounts to a sig­nif­i­cant raise by the in­dus­try’s his­toric stan­dards.

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