Arcus Biosciences Completes Stock Offering, Raises Approximately $141.6 Million

Arcus Biosciences, Inc. (NYSE: RCUS) announced on February 18, 2025, that it has entered into an underwriting agreement with Goldman Sachs & Co. LLC and Leerink Partners LLC for the offering, issuance, and sale of 13,636,364 shares of common stock. The shares were priced at $11.00 per share, resulting in a total offering value of $141.6 million, after considering underwriting discounts, commissions, and estimated offering expenses.

The net proceeds from the offering are expected to be utilized for various purposes, including funding ongoing research and development activities, particularly the clinical development of casdatifan, as well as covering manufacturing-related costs and other general corporate expenditures such as working capital and operating expenses.

The underwriting agreement encompasses standard representations, warranties, and agreements by Arcus Biosciences, along with usual closing conditions and indemnification obligations for both the company and the underwriters. Additionally, Latham & Watkins LLP, serving as the company’s counsel, has issued an opinion confirming the validity of the shares offered in the transaction.

An official detailed version of the Underwriting Agreement has been filed as Exhibit 1.1, and the legal opinion from Latham & Watkins LLP can be found in Exhibit 5.1 of the Current Report on Form 8-K submitted by Arcus Biosciences, available for public access.

After the successful closure of the offering on February 19, 2025, Arcus Biosciences looks forward to advancing its strategic initiatives with the newly acquired funds.

This article is based on the 8-K SEC Filing by Arcus Biosciences, Inc. and serves to inform investors, analysts, and stakeholders about the recent developments within the company.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Arcus Biosciences’s 8K filing here.

Arcus Biosciences Company Profile

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. The company's pipeline products include Domvanalimab, an anti-TIGIT antibody, which is in Phase 2 and Phase 3 clinical trial; and AB308, an investigational anti-TIGIT monoclonal antibody, which is in Phase 1b clinical trial to study people with advanced solid and hematologic malignancies.