Arcellx Inc., a biotechnology company focusing on innovative immunotherapies, reported its financial results for the second quarter ended June 30, 2025. The company experienced a net loss of $52.8 million, up from a net loss of $27.2 million in the same quarter of 2024. This increase was influenced by higher general and administrative expenses, which rose to $28.7 million from $21.4 million, driven primarily by increased commercial readiness and personnel costs. Collaboration revenue decreased significantly to $7.6 million from $27.4 million in the previous year, primarily due to the completion of dosing and manufacturing of anito-cel in the iMMagine-1 trial in late 2024. Meanwhile, research and development expenses decreased to $37.6 million from $41.0 million, attributed to the completion of dosing and manufacturing activities for anito-cel, partially offset by increased personnel costs. Arcellx ended the quarter with $538 million in cash, which the company expects will fund operations into 2028. Additionally, the company received FDA clearance for an IND application for ACLX-004, targeting CD33 and CD123 using Arcellx's ARC-SparX platform. The company also highlighted the promising results of its Phase 2 pivotal iMMagine-1 study of anito-cel in patients with RRMM, reporting a 97% overall response rate and a 68% complete response/stringent complete response rate with a median follow-up of 12.6 months. The study observed no delayed neurotoxicities or immune-mediated enterocolitis.