Arcus Biosciences Announces New Employment Inducement Grants

Rhea-AI Summary

Arcus Biosciences, Inc. (NYSE:RCUS), a biopharmaceutical company focused on cancer treatments, announced the grant of equity awards to six new employees. The awards include options to purchase a total of 17,600 shares at an exercise price of $19.31 as of April 24, 2023. Additionally, they received restricted stock units for 8,800 shares, under the 2020 Inducement Plan approved in January 2020.

The company aims to develop innovative cancer therapies in collaboration with industry partners and has six investigational medicines in clinical studies targeting various biological pathways.

Positive

• Granting of equity awards may help attract and retain talent.
• Continued advancement in clinical studies with six investigational medicines.

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 six new employees options to purchase a total of 17,600 shares of the Company’s common stock at an exercise price per share of $19.31, which was the closing price on April 24, 2023, and restricted stock units to acquire a total of 8,800 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.

Inducement PR

Source: Arcus Biosciences

View source version on businesswire.com: https://www.businesswire.com/news/home/20230425005348/en/

Investor Inquiries:

Pia Banerjee

Head of Investor Relations & Strategy

(617) 459-2006

pbanerjee@arcusbio.com

Media Inquiries:

Holli Kolkey

VP of Corporate Communications

(650) 922-1269

hkolkey@arcusbio.com

Source: Arcus Biosciences

FAQ

What new equity awards were granted by Arcus Biosciences (RCUS)?

Arcus Biosciences granted options to purchase 17,600 shares and restricted stock units for 8,800 shares at an exercise price of $19.31.

When were the equity awards granted to new employees at RCUS?

The equity awards were granted on April 24, 2023.

What is the purpose of the equity awards issued by Arcus Biosciences?

The equity awards aim to attract and retain talented employees.

What therapeutic focus does Arcus Biosciences (RCUS) have?

Arcus Biosciences focuses on developing differentiated molecules and combination therapies for cancer.

How many investigational medicines does Arcus Biosciences currently have in clinical studies?

Arcus Biosciences has six investigational medicines in clinical studies.