Arcus Biosciences, Inc., an oncology-focused biopharmaceutical company working to create best-in-class cancer therapies, announced that the Compensation Committee of the Company’s Board of Directors granted ten new employees options to purchase a total of 343,000 shares of the Company’s common stock at an exercise price per share of $21.53, which was the closing price on November 9, 2020.
HAYWARD, Calif.--(BUSINESS WIRE)-- Arcus Biosciences, Inc. (NYSE:RCUS), an oncology-focused biopharmaceutical company working to create best-in-class cancer therapies, today announced that the Compensation Committee of the Company’s Board of Directors granted ten new employees options to purchase a total of 343,000 shares of the Company’s common stock at an exercise price per share of $21.53, which was the closing price on November 9, 2020. The stock options 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 an oncology-focused biopharmaceutical company leveraging its deep cross-disciplinary expertise to create highly differentiated therapies and to develop a broad portfolio of novel combinations addressing significant unmet needs. Arcus currently has four molecules in clinical development: Etrumadenant (AB928), the first and only dual A2a/A2b adenosine receptor antagonist in the clinic, is being evaluated in multiple Phase 1b/2 studies across different indications, including prostate, colorectal, non-small cell lung, pancreatic and triple-negative breast cancers. AB680, the first small-molecule CD73 inhibitor in the clinic, is in Phase 1 development for first-line treatment of metastatic pancreatic cancer in combination with zimberelimab and gemcitabine/nab-paclitaxel. Domvanalimab (AB154), an anti-TIGIT monoclonal antibody and new potential immuno-oncology backbone therapy, is in a three-arm randomized Phase 2 study for first-line treatment of PD-L1-high metastatic non-small cell lung cancer evaluating zimberelimab monotherapy, domvanalimab with zimberelimab and domvanalimab plus AB928 with zimberelimab. Zimberelimab (AB122), Arcus’s anti-PD-1 monoclonal antibody, is also being evaluated in a Phase 1b study as monotherapy for cancers with no approved anti-PD-1 treatment options, and in various combinations across the portfolio. For more information about Arcus Biosciences, please visit www.arcusbio.com.
Inducement PR
Source: Arcus Biosciences
View source version on businesswire.com: https://www.businesswire.com/news/home/20201110006242/en/
Katherine Bock
VP Investor Relations & Corporate Strategy
(510) 694-6231
kbock@arcusbio.com
Source: Arcus Biosciences
View this news release online at:
http://www.businesswire.com/news/home/20201110006242/en
