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Arcus Biosciences Announces New Employment Inducement Grants
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
Arcus Biosciences, Inc. (NYSE:RCUS) announced the granting of stock options and restricted stock units to nine new employees. A total of 34,000 options at an exercise price of $17.36 per share and 15,200 restricted stock units were issued. The options were granted under the company’s 2020 Inducement Plan, which was approved in January 2020.
Arcus is focused on developing innovative therapies for cancer treatment, examining molecules targeting various biological pathways. Founded in 2015, it currently has six investigational medicines in clinical studies.
Positive
Issuance of 34,000 stock options and 15,200 restricted stock units indicates a commitment to attracting talent.
Equity awards granted under the 2020 Inducement Plan demonstrate proactive workforce investment.
Development of differentiated cancer therapies may enhance the company's market potential.
Negative
None.
HAYWARD, Calif.--(BUSINESS WIRE)--
Arcus Biosciences, Inc. (NYSE:RCUS), a clinical-stage, global biopharmaceutical company focused on developing differentiated molecules and combination therapies for people with cancer, today announced that the Compensation Committee of the Company’s Board of Directors granted nine new employees options to purchase a total of 34,000 shares of the Company’s common stock at an exercise price per share of $17.36, which was the closing price on April 10, 2023, and restricted stock units to acquire a total of 15,200 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 biological targets 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 advanced six investigational medicines into clinical studies, including new combination approaches that target TIGIT, PD-1, the adenosine axis (CD73 A2a/A2b receptors) and HIF-2α. For more information about Arcus Biosciences’ clinical and preclinical programs, please visit www.arcusbio.com.
