Gilead completes $7.1 billion Arcellx acquisition; 2026 EPS cut by $5.57-$5.67
Gilead Sciences completed its acquisition of Arcellx, Inc. on April 28, 2026, paying $115 per share in cash plus one contingent value right of $5 per share, for a total implied equity value of about $7.8 billion. Gilead said the deal will reduce its GAAP and non-GAAP 2026 diluted EPS by approximately $5.57 to $5.67, so shareholders face a large near-term earnings charge tied to the anito-cel program's future success.
Key points
- Acquisition completed April 28, 2026, after tender offer expired April 27 with about 77.2% of Arcellx shares outstanding tendered or already owned by Gilead
- Total funds used were approximately $7.1 billion; implied equity value at closing was about $7.8 billion
- Gilead expects 2026 diluted EPS to fall by approximately $5.57 to $5.67; excluding acquired in-process R&D, it expects modest dilution in 2026 and 2027 and accretion from 2028, subject to FDA approval of anito-cel
- CVR pays $5 per share if cumulative global net sales of anito-cel reach at least $6.0 billion from launch through 2029
The filing
Written by AI on Nov 8, 2026, 2:16 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 28, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.