Arcus Biosciences Announces New Employment Inducement Grants

Rhea-AI Summary

Arcus Biosciences, Inc. (NYSE:RCUS) announced the grant of stock options to two new employees totaling 41,800 shares at an exercise price of $37.56, the closing price on January 10, 2022. This issuance is in accordance with the Company’s 2020 Inducement Plan, approved under NYSE rules. Founded in 2015, Arcus focuses on developing innovative cancer therapies and has advanced six investigational medicines into clinical studies targeting various cancer pathways.

Positive

• Granting of stock options may enhance employee retention and motivation.
• Continued development of differentiated cancer therapies aligns with market demand.

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 two new employees options to purchase a total of 41,800 shares of the Company’s common stock at an exercise price per share of $37.56, which was the closing price on January 10, 2022. 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 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/20220111005528/en/

Investor and Media Inquiries:

Holli Kolkey

VP of Corporate Communications

(650) 922-1269

hkolkey@arcusbio.com

Source: Arcus Biosciences, Inc.

FAQ

What stock options did Arcus Biosciences grant?

Arcus Biosciences granted stock options to purchase 41,800 shares at an exercise price of $37.56.

When were the stock options granted?

The stock options were granted on January 10, 2022.

What is the purpose of the 2020 Inducement Plan?

The 2020 Inducement Plan was established to attract and retain qualified employees.

What is Arcus Biosciences focused on?

Arcus Biosciences is focused on developing best-in-class cancer therapies.

How many investigational medicines has Arcus developed?

Arcus has developed six investigational medicines into clinical studies.