Arcus Biosciences Announces New Employment Inducement Grants

Rhea-AI Summary

Arcus Biosciences (NYSE:RCUS) announced the grant of stock options to ten new employees, totaling 141,800 shares at an exercise price of $23.40, based on the closing price from June 23, 2021. This issuance is part of the Company’s 2020 Inducement Plan approved by the Board. Arcus is focused on developing innovative cancer therapies, with five molecules currently in clinical trials, including the promising Etrumadenant and Domvanalimab, aimed at addressing significant unmet needs in oncology.

Positive

• Granting of stock options to new employees may enhance talent retention.
• Five promising molecules in clinical development can drive future growth.

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 ten new employees options to purchase a total of 141,800 shares of the Company’s common stock at an exercise price per share of $23.40, which was the closing price on June 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 or follow us on Twitter.

Inducement PR

Source: Arcus Biosciences

View source version on businesswire.com: https://www.businesswire.com/news/home/20210624005903/en/

FAQ

What stock options were announced by Arcus Biosciences (RCUS)?

Arcus Biosciences announced the grant of stock options totaling 141,800 shares at an exercise price of $23.40.

What is the purpose of the stock option grant at Arcus Biosciences?

The stock option grant aims to retain talent as part of the Company’s 2020 Inducement Plan.

What are the main products in clinical development at Arcus Biosciences (RCUS)?

Arcus currently has five molecules in clinical development, including Etrumadenant and Domvanalimab, targeting various cancer indications.