Arcus Biosciences (RCUS) IPO Opens 33% Higher

Today's IPO for Arcus Biosciences (NYSE: RCUS) opened at $20 after pricing 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.

Citigroup, Goldman Sachs & Co. LLC and Leerink Partners are acting as joint book-running managers for the offering.

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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