Arcellx initiated with an Overweight at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage of Arcellx (ACLX) with an Overweight rating. Two pivotal trials are underway for lead CAR-T candidate anito-cel in relapsed/refractory multiple myeloma and potential approval of anito-cel in fourth-line r/r MM is guided for 2026, the analyst tells investors in a research note. Phase 1 data demonstrate anito-cel’s efficacy is competitive with Carvykti, the leading CAR-T treatment for MM, and Cantor sees two strong avenues for anito-cel to differentiate a tolerable safety profile with lower rates of severe neurotoxicities than competitors, and a potential best-in-class manufacturing infrastructure provided through a co-development/ co-commercialization partnership with Kite (GILD).