HAYWARD, Calif.--(BUSINESS WIRE)--
Arcus Biosciences, Inc. (NYSE:RCUS), a clinical-stage biopharmaceutical
company focused on creating innovative cancer immunotherapies, today
announced the closing of its initial public offering of 8,000,000 shares
of common stock at a price to the public of $15.00 per share. The
underwriters have also exercised in full their overallotment option to
purchase 1,200,000 additional shares of common stock from the Company at
the same price. Including the proceeds from the sale of these additional
shares, the Company will receive total gross proceeds of $138,000,000
from the offering, before deducting underwriting discounts and
commissions and estimated offering expenses.
Citigroup, Goldman Sachs & Co. LLC and Leerink Partners acted as joint
book-running managers for the offering.
The offering was made only by means of a prospectus. Copies of the final
prospectus related to this offering may be obtained from: Citigroup, c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY
11717 or by telephone at 1-800-831-9146; Goldman Sachs & Co. LLC,
Attention: Prospectus Department, 200 West Street, New York, NY 10282,
by telephone at 1-866-471-2526, by fax at 212-902-9316 or by email at prospectusgroup-ny@ny.email.gs.com;
or Leerink Partners, Attention: Syndicate Department, One Federal
Street, 37th Floor, Boston, MA 02110, by telephone at 1-800-808-7525,
ext. 6132, or by email at syndicate@leerink.com.
A registration statement relating to the offering has been filed with,
and declared effective by, the United States Securities and Exchange
Commission (“SEC”). Copies of the registration statement can be accessed
through the SEC’s website at www.sec.gov.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy, nor will there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation, or sale would be unlawful before registration or
qualification under the securities laws of that state or jurisdiction.
About Arcus Biosciences
Arcus Biosciences (“Arcus”) is a clinical-stage biopharmaceutical
company focused on creating innovative cancer immunotherapies. Arcus was
founded in 2015 by Terry Rosen and Juan Jaen, the co-founders of Flexus
Biosciences, which was acquired by Bristol-Myers Squibb in 2015 to
access Flexus’s IDO inhibitor, which was in preclinical development at
the time and is now referred to as BMS-986205. Arcus has several
programs targeting important immuno-oncology pathways, including a dual
adenosine receptor antagonist and an anti-PD-1 antibody, both of which
are in Phase 1 trials, as well as a small molecule inhibitor of CD73 and
an anti-TIGIT antibody, which are in IND-enabling studies. Arcus has
extensive in-house expertise in medicinal chemistry, immunology,
biochemistry, pharmacology, and structural biology. The company is based
in Hayward, CA.
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Arcus Biosciences
Jennifer Jarrett, 510-694-6261
Chief
Business and Financial Officer
jjarrett@arcusbio.com
Source: Arcus Biosciences