Arcus Biosciences Announces New Employment Inducement Grants

Rhea-AI Summary

Arcus Biosciences (NYSE:RCUS) announced the granting of stock options to twelve new employees, totaling 180,200 shares at an exercise price of $30.90, the closing price on April 8, 2021. This action follows the guidelines of the 2020 Inducement Plan approved by the Board of Directors. Arcus is focused on developing innovative cancer therapies, with five molecules currently in clinical development targeting various cancers, including prostate and pancreatic. Notable candidates include Etrumadenant and AB680, which are in different stages of trials.

Positive

• Granting of 180,200 stock options to new employees could enhance talent retention and motivation.
• Five molecules are actively in clinical development, indicating a strong pipeline of potential 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 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 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 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-licensed to 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.

Inducement PR

Source: Arcus Biosciences

View source version on businesswire.com: https://www.businesswire.com/news/home/20210409005091/en/

FAQ

What recent stock options were granted by Arcus Biosciences (RCUS)?

Arcus Biosciences granted options to purchase 180,200 shares at an exercise price of $30.90.

What is the aim of Arcus Biosciences in oncology?

Arcus Biosciences aims to develop best-in-class cancer therapies through innovative drug candidates.

How many molecules is Arcus Biosciences developing for cancer treatment?

Arcus Biosciences is currently developing five novel drug candidates for cancer treatment.

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

The 2020 Inducement Plan allows for granting stock options to attract and retain talent.