Gilead Sciences has extended the deadline for its tender offer to acquire all outstanding shares of Arcellx to April 24, 2026. The offer price remains unchanged at $115.00 in cash per share, net to the seller, and includes a $5.00 contingent value right (CVR) that will be paid on March 31, 2030 if Arcellx’s anito‑cel therapy achieves cumulative global net sales of at least $6.0 billion by December 31, 2029.
The extension comes after only 7.5% of Arcellx shares had been tendered as of March 31, 2026, and after Gilead had already built an 11.5% stake in the company. By keeping the offer open, Gilead is giving shareholders additional time to decide while it seeks to secure the majority of shares required for the transaction to close.
The acquisition, valued at $7.8 billion, is a key part of Gilead’s oncology strategy. It adds anito‑cel, a BCMA‑directed CAR‑T cell therapy that has received FDA BLA acceptance with a PDUFA action date of December 23, 2026. Analysts expect the therapy to become EPS‑accretive for Gilead beginning in 2028, reinforcing the company’s shift from antiviral to oncology and cell‑therapy markets.
Gilead’s share price had risen 27% over the six months leading up to the extension, and the tender‑offer price represents a 68% premium over the 30‑day volume‑weighted average price. The company’s Q1 2026 earnings are scheduled for April 23, 2026; Q4 2025 earnings were $1.86 EPS, and analysts are projecting $1.86 EPS for the upcoming quarter.
Beyond anito‑cel, Arcellx’s pipeline includes ACLX‑001 and ACLX‑002, and the company’s proprietary D‑Domain CAR platform could support future cell‑therapy and bispecific antibody programs. These assets broaden the strategic fit for Gilead’s expanding oncology portfolio.
The extension signals Gilead’s continued commitment to integrating Arcellx’s technology while allowing shareholders to evaluate the offer’s value as market and regulatory conditions evolve. If a majority of shares are tendered before the new deadline, the acquisition is expected to close, further consolidating Gilead’s position in the competitive cell‑therapy space.
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