Arcus Biosciences prices 13.6M shares at $11.00 in underwritten offering

Arcus Biosciences (RCUS) announced the pricing of an underwritten offering of 13,636,364 shares of its common stock at an offering price of $11.00 per share, for total gross proceeds of approximately $150 million, before deducting underwriting discounts and commissions and offering expenses payable by the company. All of the common stock is being offered by the company. The offering is expected to close on or about February 19, 2025, subject to customary closing conditions. Arcus intends to use the net proceeds from the offering to fund ongoing research and development activities, including the clinical development of casdatifan, manufacturing-related costs and other general corporate purposes, including working capital and operating expenses. Goldman Sachs & Co., Leerink Partners and Evercore ISI are acting as joint book-running managers.