Arcus Biosciences Announces New Employment Inducement Grants

Rhea-AI Summary

Arcus Biosciences, Inc. (NYSE:RCUS) has granted stock options for a total of 31,400 shares to four new employees at an exercise price of $33.28, based on the closing price from February 23, 2021. This grant is part of the Company's 2020 Inducement Plan, approved by the Board of Directors. Arcus specializes in oncology with five clinical-stage molecules, including Etrumadenant, AB680, and Domvanalimab. The company is focused on developing innovative therapies to address significant unmet needs in cancer treatment.

Positive

• Granting stock options demonstrates commitment to employee retention and motivation.
• Continued development of five clinical-stage molecules indicates strong research and development pipeline.

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 four new employees options to purchase a total of 31,400 shares of the Company’s common stock at an exercise price per share of $33.28, which was the closing price on February 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 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/20210225006028/en/

FAQ

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

Arcus Biosciences granted options to purchase a total of 31,400 shares at an exercise price of $33.28.

When were the stock options granted by Arcus Biosciences?

The stock options were granted on February 23, 2021.

What is the purpose of the 2020 Inducement Plan for RCUS?

The 2020 Inducement Plan is designed to attract and retain talented employees through stock options.

What are the clinical-stage molecules being developed by Arcus Biosciences?

Arcus is developing Etrumadenant, AB680, Domvanalimab, AB308, and Zimberelimab.