Arcus Biosciences Announces New Employment Inducement Grants

Rhea-AI Summary

Arcus Biosciences (NYSE:RCUS) announced the granting of stock options for 31,600 shares to three new employees, priced at $30.83 each, reflecting the company's closing share price on January 8, 2021. This initiative is part of the Company’s 2020 Inducement Plan, approved in January 2020. Arcus is focused on developing innovative cancer therapies, with four clinical candidates under evaluation for various cancer types, including the dual A_2a/A_2b antagonist, Etrumadenant, currently in multiple Phase 2 and 1b studies.

Positive

• Granting stock options may improve employee retention and motivation.
• Arcus has four promising drug candidates in clinical development targeting significant cancer indications.

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 three new employees options to purchase a total of 31,600 shares of the Company’s common stock at an exercise price per share of $30.83, which was the closing price on January 8, 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 four molecules in clinical development: Etrumadenant (AB928), the first and only dual A_2a/A_2b adenosine receptor antagonist in the clinic, is being evaluated in multiple Phase 2 and 1b studies across different indications, including prostate, colorectal, non-small cell lung, pancreatic and triple-negative breast cancers. AB680, the first small-molecule CD73 inhibitor in 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-high metastatic non-small cell lung cancer evaluating zimberelimab monotherapy, AB154 with zimberelimab and AB154 plus AB928 with zimberelimab. Zimberelimab (AB122), Arcus’s anti-PD-1 monoclonal antibody, is also being evaluated in a Phase 1b study as monotherapy for cancers with no approved anti-PD-1 treatment options, and 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/20210112005790/en/

FAQ

What stock options were granted by Arcus Biosciences on January 8, 2021?

The company granted options for a total of 31,600 shares at an exercise price of $30.83 per share.

What is the significance of the 2020 Inducement Plan for Arcus Biosciences?

The plan allows the company to grant stock options to attract and retain talent as part of its compensation strategy.

What are the key clinical candidates in development by Arcus Biosciences?

Arcus is developing four clinical candidates, including Etrumadenant, AB680, Domvanalimab, and Zimberelimab, targeting various cancer types.

How might the stock option grant impact Arcus Biosciences' stock value?

The stock option grant could enhance employee motivation, potentially leading to better performance and positively influencing stock value.