10 Oversold Biotech Stocks to Buy Now

4. Arcellx, Inc. (NASDAQ:ACLX)

Relative Strength Index (RSI): 39.21

Arcellx, Inc. (NASDAQ:ACLX) is a clinical-stage biotech company focused on developing innovative cell therapies for cancer and incurable diseases. It aims to create safer, more effective, and accessible immunotherapies, with a primary focus on multiple myeloma and expanding into leukemia and solid tumors. The company’s leading candidate, anitocabtagene autoleucel (anito-cel), is in clinical trials for relapsed or refractory multiple myeloma. Since Arcellx, Inc. (NASDAQ:ACLX) has no approved products yet, it relies on partnerships, such as with Kite (a Gilead Company), and investor funding for financial support.

In its recent trials, Arcellx, Inc. (NASDAQ:ACLX)’s lead therapy, anito-cel, showed promising results for multiple myeloma. The iMMagine-1 study reported a 95% response rate, with no cases of serious neurotoxic side effects across more than 140 patients. Additionally, the iMMagine-3 trial, conducted in partnership with Kite, has begun dosing patients, further advancing its clinical pipeline.

Financially, Arcellx, Inc. (NASDAQ:ACLX) is in a strong position, with $676.7 million in cash as of Q3 2024—enough to sustain operations into 2027. The company’s collaboration revenue grew to $26 million, driven by its expanded partnership with Kite. Meanwhile, research and development expenses decreased, and net losses improved from $39.3 million to $25.9 million.