Arcus Biosciences Announces New Employment Inducement Grants

Rhea-AI Summary

Arcus Biosciences (NYSE:RCUS) announced the grant of stock options for 72,800 shares to six new employees at an exercise price of $32.85, corresponding to the closing price on July 23, 2021. This grant is made under the Company’s 2020 Inducement Plan, approved by its Board of Directors. Arcus focuses on developing innovative cancer therapies and has five molecules in clinical development, including Etrumadenant and Domvanalimab, targeting significant unmet needs in various cancers. The company aims to advance its portfolio through clinical trials and collaborations.

Positive

• Stock options granted to six new employees indicate company growth and talent acquisition.
• Strong pipeline with five molecules in clinical development, showing commitment to oncology innovation.
• Etrumadenant and Domvanalimab positioned as potential best-in-class therapies.

Negative

• None.

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 six new employees options to purchase a total of 72,800 shares of the Company’s common stock at an exercise price per share of $32.85, which was the closing price on July 23, 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 A_2a/A_2b 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 in combination with zimberelimab and gemcitabine/nab-paclitaxel for first-line treatment of metastatic pancreatic cancer. Domvanalimab (AB154) is an Fc-silent anti-TIGIT monoclonal antibody and new potential immuno-oncology backbone therapy. In addition to ARC-7, domvanalimab is being investigated in a registrational, Phase 3 study, ARC-10, a “two in one trial” to support the potential approvals of both zimberelimab alone and domvanalimab plus zimberelimab compared to chemotherapy in first-line locally advanced or metastatic, PD-L1>50% NSCLC. An additional registrational Phase 3 study is being planned in collaboration with AstraZeneca in earlier disease with curative intent. AB308, an anti-TIGIT antibody that is Fc-enabled, is in clinical development, with a potential focus on hematological malignancies. Zimberelimab (AB122), Arcus’s anti-PD-1 monoclonal antibody, is being evaluated in various combinations across the portfolio. For more information about Arcus Biosciences, please visit www.arcusbio.com.
Inducement PR

Source: Arcus Biosciences

View source version on businesswire.com: https://www.businesswire.com/news/home/20210726005671/en/

FAQ

What stock options were granted by Arcus Biosciences on July 23, 2021?

Arcus Biosciences granted options to purchase 72,800 shares at an exercise price of $32.85.

What is the significance of the 2020 Inducement Plan for Arcus Biosciences?

The 2020 Inducement Plan allows the company to attract and retain talent through stock option grants.

What are the main products in development by Arcus Biosciences?

Arcus has five molecules in development, including Etrumadenant and Domvanalimab, targeting various cancers.

How does Arcus Biosciences plan to advance its clinical programs?

The company is conducting multiple Phase 2 and Phase 3 studies to support its clinical programs.

What is the focus of Arcus Biosciences?

Arcus focuses on developing best-in-class cancer therapies to address significant unmet medical needs.