Arcus Biosciences, Inc. - $RCUS STOCK NEWS

Gilead Sciences, Inc. and Arcus Biosciences, Inc. have announced an amendment to their collaboration agreement and a separate equity investment by Gilead of $320 million in Arcus common stock at $21.00 per share. The investment reinforces the companies' conviction in the TIGIT pathway and provides an opportunity to accelerate the anti-TIGIT program. The amendment also provides Gilead with one additional seat on the Arcus Board. The press release highlights the governance enhancements enabling streamlined decision-making and reflects the continued growth of the collaboration. Gilead and Arcus have reprioritized the joint domvanalimab development program to focus on advancing and potentially accelerating the Phase 3 studies STAR-121 (lung cancer) and STAR-221 (gastrointestinal cancer). This prioritization reflects the companies' continued conviction in the TIGIT pathway and the Fc-silent design of domvanalimab, which has the potential for differentiation in both efficacy and safety. The additional investment by Gilead, which extends Arcus' cash runway into 2027, will enable the funding of Phase 3 studies of quemliclustat in pancreatic cancer and AB521 in kidney cancer, as well as the preparation for potential product approvals.

Gilead Sciences, Inc. invests $320 million in Arcus Biosciences, Inc. and amends collaboration agreement, raising Gilead's ownership stake in Arcus to 33%. The investment aims to accelerate the joint development programs, with a focus on advancing Phase 3 studies for lung and gastrointestinal cancers. The amendment also provides Gilead with one additional seat on the Arcus Board, enabling streamlined decision-making.

Arcus Biosciences, Inc. (NYSE:RCUS) announced the grant of equity awards to new employees, including options to purchase 76,700 shares of common stock and restricted stock units for 38,350 shares. The exercise price per share was set at $15.26, based on the closing price on January 25, 2024. These awards were granted under the Company’s 2020 Inducement Plan, approved by the Board of Directors in January 2020.

Arcus Biosciences, Inc. (RCUS) announced promising overall survival data from the ARC-8 Phase 1b study, showing a 37% reduction in the risk of death and a 5.9-month improvement in median overall survival for patients treated with quemliclustat-based regimens compared to chemotherapy alone. The study of quemliclustat plus chemotherapy with or without zimberelimab in patients with metastatic pancreatic ductal adenocarcinoma (mPDAC) will be presented at the ASCO GI Symposium. The data shows a significant increase in survival compared to historical benchmark data for chemotherapy alone, with no observed clinically meaningful increase in toxicity.

Arcus Biosciences, Inc. (NYSE:RCUS) Grants Equity Awards to New Employees

Exelixis, Inc. (EXEL) and Arcus Biosciences (RCUS) have announced a clinical trial collaboration for STELLAR-009, a phase 1b/2 trial evaluating zanzalintinib, Exelixis’ next-generation TKI, in combination with AB521, an inhibitor of the transcription factor HIF-2⍺, in patients with advanced solid tumors. Patient enrollment for STELLAR-009 is expected to begin before the end of 2023.

Exelixis, Inc. (EXEL) and Arcus Biosciences (RCUS) have announced a clinical trial collaboration for STELLAR-009, a phase 1b/2 trial evaluating zanzalintinib, Exelixis' next-generation tyrosine kinase inhibitor (TKI), in combination with AB521, an inhibitor of the transcription factor HIF-2⍺, in patients with advanced solid tumors, including clear cell renal cell carcinoma (ccRCC). The trial is expected to begin enrolling patients before the end of 2023.

Arcus Biosciences, Inc. (RCUS) granted new employees options to purchase 12,600 shares of common stock and 6,300 restricted stock units under its 2020 Inducement Plan.

Arcus Biosciences (RCUS) to Participate in Fireside Chat at Evercore ISI HealthCONx Conference