Arcus Biosciences falls after $250 mln stock sale

Arcus Biosciences

31/10/2025 12:00

** Shares of Arcus Biosciences RCUS.N down 5% before the bell to $19.19 after overnight $250 mln follow-on priced

** Hayward, California-based RCUS late Thurs sold 13.7 mln shares at $18.25, a 9.6% discount to stock's last sale

** It intends to use net offering proceeds to fund ongoing R&D, including expanding clinical development program for casdatifan, its therapy for kidney cancer, and development of its immunology and inflammation portfolio, per the prospectus

** RCUS has about 108 mln shares outstanding for roughly $2 bln market cap

** Leerink Partners, Goldman Sachs, Cantor Fitzgerald, Mizuho and Truist are joint bookrunners for offering

** Through Thurs close, stock up ~36% YTD

** 11 of 13 analysts rate RCUS "strong buy" or "buy", 2 rate "hold"; median PT of $29 up from $25 a month ago, per LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))