RCUS - Pharma Giant Gilead Raises Stake In Cancer-Focused Arcus Biosciences Stock Soars | Benzinga
Arcus Biosciences Inc (NASDAQ:RCUS) shares are trading higher after Gilead Sciences Inc (NASDAQ:GILD) amended their collaboration agreement and announced a separate equity investment of $320 million in Arcus stock at $21.00 per share.
The equity investment and collaboration amendment enable accelerated growth of the companies’ joint development programs that span multiple indications.
Additionally, Johanna Mercier, Chief Commercial Officer at Gilead Sciences, will join the Arcus Board, bringing Gilead’s total director designees to three.
Gilead and Arcus have reprioritized the joint domvanalimab ...