Arcellx raises $124M in Wall Street debut to bankroll study of multiple myeloma CAR-T.

Cell therapy biotech Arcellx raised $124 million in its Wall Street debut, at the low end of its proposed range, to bankroll a phase 2 CAR-T BCMA therapy trial in patients with multiple myeloma, expected to start by year's end. If the study is successful, the company hopes to file the cell therapy with the FDA for approval. [ABSTRACT FROM AUTHOR]