HAYWARD, Calif.--(BUSINESS WIRE)--
Arcus Biosciences (NYSE: RCUS), a clinical-stage biopharmaceutical
company focused on creating innovative cancer immunotherapies, today
announced the pricing of its initial public offering of 8,000,000 shares
of common stock at a price to the public of $15.00 per share for total
gross proceeds of $120,000,000. The Company has also granted the
underwriters a 30-day option to purchase from the Company an additional
1,200,000 shares of common stock at the initial public offering price,
less the underwriting discount. The shares are expected to begin trading
on the New York Stock Exchange on March 15, 2018 under the symbol
“RCUS”. The offering is expected to close on March 19, 2018, subject to
customary closing conditions.
Citigroup, Goldman Sachs & Co. LLC and Leerink Partners are acting as
joint book-running managers for the offering.
The offering is made only by means of a prospectus. When available, a
copy 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
jjarrett@arcusbio.com
Source: Arcus Biosciences