Arcus Biosciences Announces New Employment Inducement Grants

Rhea-AI Summary

Arcus Biosciences, Inc. (NYSE:RCUS) has granted options to purchase 34,500 shares and restricted stock units totaling 17,250 shares to 14 new employees. The options have an exercise price of $28.78, based on the closing price on July 8, 2022. This grant is under the Company's 2020 Inducement Plan, approved by the Board in January 2020. Arcus is focused on developing innovative cancer therapies and has advanced six investigational medicines to clinical studies, targeting various biological pathways.

Positive

• Grant of 34,500 stock options and 17,250 restricted stock units indicates company growth and employee incentives.
• The stock options have an exercise price of $28.78, aligning employee interests with shareholder value.

Negative

• None.

HAYWARD, Calif.--(BUSINESS WIRE)-- 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 fourteen new employees options to purchase a total of 34,500 shares of the Company’s common stock at an exercise price per share of $28.78, which was the closing price on July 8, 2022, and restricted stock units to acquire a total of 17,250 shares of the Company’s common stock. The equity awards 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 a clinical-stage, global biopharmaceutical company developing differentiated molecules and combination medicines for people with cancer. In partnership with industry partners, patients and physicians around the world, Arcus is expediting the development of first- or best-in-class medicines against well characterized biology and pathways and studying novel, biology-driven combinations that have the potential to help people with cancer live longer. Founded in 2015, the company has expedited the development of six investigational medicines into clinical studies, including new combination approaches that target TIGIT, PD-1, the adenosine axis (CD73 and dual A2a/A2b) and most recently, HIF-2alfa. For more information about Arcus Biosciences’ clinical and pre-clinical programs, please visit www.arcusbio.com or follow us on Twitter.

Inducement PR

Source: Arcus Biosciences

View source version on businesswire.com: https://www.businesswire.com/news/home/20220711005226/en/

Investor and Media Inquiries:

Holli Kolkey

VP of Corporate Communications

(650) 922-1269

hkolkey@arcusbio.com

Source: Arcus Biosciences

FAQ

What is the recent stock option grant by Arcus Biosciences (RCUS)?

Arcus Biosciences granted options to purchase 34,500 shares and restricted stock units totaling 17,250 shares to new employees.

What is the exercise price for the stock options granted by Arcus Biosciences?

The options have an exercise price of $28.78, which was the closing price on July 8, 2022.

When was the 2020 Inducement Plan for Arcus Biosciences approved?

The 2020 Inducement Plan was approved by the Board of Directors in January 2020.

How many new employees received stock options from Arcus Biosciences?

Fourteen new employees received stock options from Arcus Biosciences.

What therapeutic focus does Arcus Biosciences have?

Arcus Biosciences focuses on developing differentiated molecules and combination medicines for cancer.