This company is no longer publicly traded

Delisted / no longer publicly traded (per market data provider) Any Winston Score and financials shown below are based on the last available data and should be treated as historical — they are no longer updated.

Delisted: May 15, 2026

Arcellx

ACLX

Biotechnology · Healthcare

Price

$115.07

+0.02 (+0.02%)

Market Cap

$6.73B

Exchange

NASDAQ

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Share count rising — dilution

+67.9% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 33.5M (2021) → 56.3M (2025)

Arcellx, Inc., a clinical-stage biotechnology company, engages in the development of various immunotherapies for patients with cancer and other incurable diseases. The company's lead ddCAR product candidate is CART-ddBCMA, which is in phase 1 clinical trial for the treatment of patients with relapsed or refractory (r/r) multiple myeloma (MM). It is also developing ACLX-001, an immunotherapeutic combination composed of ARC-T cells and bi-valent SparX proteins targeting BCMA to treat r/r MM; ACLX-

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-89.2% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-14.8% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$158M/ year

→ Flat (+0% vs prior year)

707.2% of revenue

39.3x the sector average (18%)

Steady R&D investment year-over-year

Insider Activity

26.6%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Runway

~4 months

$80M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Arcellx has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Quality

Gross Margin

0.8%

Thin — 0.8% gross margin

Operating Margin

-3850.2%

Losing money on operations — -3850.2%

ROCE

-14.0%

Weak — -14.0% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

-79.4%

Shrinking sales (-79.4% YoY)

EPS YoY

N/A

Data not available

EPS Consistency

0/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

—

Data not available

FCF Margin

-953.9%

Burning cash (-953.9%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

0.13

Conservative — low debt load (0.13)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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