Latham & Watkins Advises Arcus Biosciences in US$150 Million Offering of Common Stock

Arcus Biosciences, Inc. (NYSE:RCUS), a clinical-stage, global biopharmaceutical company focused on developing differentiated molecules and combination therapies for people with cancer, has announced the pricing of an underwritten offering of 13,636,364 shares of its common stock at an offering price of US$11 per share, for total gross proceeds of approximately US$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.

Latham & Watkins LLP represents Arcus Biosciences in the transaction with a corporate team led by Bay Area partners Mark Roeder and John Williams, with associates Caitlin Nguyen, Chelsi DeTurk, and Kelsey MacKinnon. Advice was also provided on intellectual property matters by San Diego/Bay Area partner Christopher Hazuka and San Diego counsel Robert Yeh, with associate Kristina Funahashi; on regulatory matters by Washington, D.C. partner Elizabeth Richards, Bay Area partner Betty Pang, and Washington, D.C. counsel Chad Jennings, with associate Evan Miller; on tax matters by Bay Area partners Kirt Switzer and Grace Lee, with associate Alphonse Simon; and on compensation and benefits matters by Bay Area partner Jay Metz.