Gilead Sciences, Arcellx's CAR-T Therapy Supports 2030 Oncology Ambitions, Oppenheimer Says

MT Newswires Live12-11

Gilead Sciences' (GILD) partner Arcellx (ACLX) is set to present "promising" results for their CAR-T therapy, anito-cel, for treating multiple myeloma and the treatment could deliver on CEO Dan O'Day's goal for oncology to comprise one-third of total revenue by 2030, Oppenheimer said in a note Tuesday.

Data from the phase 2 iMMagine-1 trial for anito-cel demonstrated "competitive efficacy" and a manageable safety profile, showing no delayed neurotoxicities in over 150 patients, according to the note.

"We think anito-cel is positioned as a potential best-in-class therapy, considering its clinical profile and Kite Pharma/Gilead's track record of reliable, fast manufacturing," Oppenheimer added.

The brokerage raised its price target to $115 from $105 and reiterated an outperform rating on the stock.

Price: 92.23, Change: +1.64, Percent Change: +1.81

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