UPDATE 1-Gilead to acquire Arcellx for $7.8 billion

+0.09%

+0.42%

Arcellx, Inc.

ACLX

114.39

+0.09%

Gilead Sciences, Inc.

GILD

144.99

+0.42%

Adds shares in first paragraph, deal details in paragraph 3

Feb 23 (Reuters) - Gilead Sciences GILD.O said on Monday it will buy cancer therapy developer Arcellx ACLX.O for an implied equity value of $7.8 billion, sending shares of Arcellx climbing 77.8% to $113.99 in premarket trading.

Gilead will pay $115 per share in cash at the deal's closing and one contingent value right of $5 per share, which is a premium of 87% to the stock's last close.

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