Business Description

1. Nature of the Business Organization Arcellx, Inc. (Arcellx or the Company) was incorporated in Delaware in December 2014 and is headquartered in Redwood City, California. The Company is a clinical-stage biopharmaceutical company reimagining CAR-T through the development of innovative therapies for patients with cancer and other incurable diseases. Liquidity The Company has not commercialized any of its drug candidates and planned commercial operations have not commenced. The Company expects to incur additional operating losses and negative operating cash flows for the foreseeable future as it seeks marketing approval from the FDA and, if approved, commercialize anito-cel to treat patients with rrMM and continues development of drug candidates, including preclinical and clinical testing and regulatory approval prior to commercialization. The Company has not generated any revenue to date from product sales and does not expect to generate any revenues from product sales, unless and until it both obtains regulatory approval and commercializes one or more of its product candidates. The Company plans to seek additional funding through public or private equity offerings or debt financings. The Company may not be able to obtain financing on acceptable terms, or at all, and the Company may not be able to enter into other arrangements on favorable terms, or at all. The terms of any financing may adversely affect the holdings or the rights of the Company’s stockholders. If the Company is unable to obtain funding, the Company could be required to delay, reduce or eliminate research and development programs, product portfolio expansion or future commercialization efforts, which could adversely affect its business prospects. The Company has incurred significant operating losses since inception and has an accumulated deficit of $ 725.8 million as of December 31, 2025 . The Company has relied on its ability to fund its operations through private and public equity financin…