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Arcus Biosciences Announces New Employment Inducement Grants
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Arcus Biosciences, Inc. (NYSE:RCUS), an oncology-focused biopharmaceutical company working to create best-in-class cancer therapies, today announced that the Compensation Committee of the Company’s Board of Directors granted twelve new employees options to purchase a total of 180,200 shares of the Company’s common stock at an exercise price per share of $30.90, which was the closing price on April 8, 2021. The stock options were granted pursuant to the Company’s 2020 Inducement Plan, which was approved by the Company’s Board of Directors in January 2020 pursuant to the “inducement exception” under NYSE Listed Company Manual Rule 303A.08.
About Arcus Biosciences
Arcus Biosciences is an oncology-focused biopharmaceutical company leveraging its deep cross-disciplinary expertise to discover highly differentiated therapies and to develop a broad portfolio of novel combinations addressing significant unmet needs. Arcus currently has five molecules in clinical development: Etrumadenant (AB928), the first dual A2a/A2b adenosine receptor antagonist to enter the clinic, is being evaluated in multiple Phase 2 and 1b studies across different indications, including prostate, colorectal, non-small cell lung, and pancreatic cancers. AB680, the first small-molecule CD73 inhibitor to enter the clinic, is in Phase 1/1b development for first-line treatment of metastatic pancreatic cancer in combination with zimberelimab and gemcitabine/nab-paclitaxel. Domvanalimab (AB154), an anti-TIGIT monoclonal antibody and new potential immuno-oncology backbone therapy, is in a three-arm randomized Phase 2 study for first-line treatment of PD-L1 ≥ 50% metastatic non-small cell lung cancer (NSCLC) evaluating zimberelimab monotherapy, domvanalimab with zimberelimab and domvanalimab plus etrumadenant with zimberelimab. In addition, domvanalimab has advanced into ARC-10, Arcus’s “two in one trial” to support the potential approvals of both zimberelimab and zimberelimab + domvanalimab and a registrational study, in collaboration with AstraZeneca, evaluating the curative-intent stage 3 NSCLC setting. AB308, an anti-TIGIT antibody that is FcR-enabled, is advancing into clinical development to investigate additional indications, with a focus on hematological malignancies. Zimberelimab (AB122), Arcus’s anti-PD-1 monoclonal antibody, was in-licensedto enable the development of Arcus’s combination regimens and is being evaluated in various combinations across the portfolio. For more information about Arcus Biosciences, please visit www.arcusbio.com.
arcus biosciences is an exciting young company founded on a vision of creating new cancer therapeutics through the utilization of emerging insights in immunology. arcus was formed in 2015 by a group of seasoned researchers from the biotechnology and pharmaceutical industries and is located in the san francisco bay area, in the heart of the world’s largest biotechnology research hub. unlike many other organizations, we view the drug discovery process as one that requires equal parts of technology and art, science and elegance, not as a commodity that can be outsourced. for this reason, we have assembled and are continuing to build an internal team of uniquely qualified individuals with extraordinary knowledge, skills and drive. arcus is rapidly establishing a portfolio of novel therapeutics encompassing both small molecules and biologics that target various facets of the immune system implicated in pathology or modulation of the cellular processes of cancer. these new drugs will then be