Arcus Biosciences falls on pricing $150 mln stock offering at 16% discount

Arcus Biosciences

18/02/2025 12:21

** Arcus Biosciences shares  RCUS.N  drop 4% to $12.57
premarket
    ** Arcus's 13.6 mln stock offering priced at $11 each, a 16%
discount to last close
    ** Co plans to use gross proceeds of ~$150 mln to develop
its experimental kidney cancer drug and for other purposes
    ** Goldman Sachs, Leerink Partners and Evercore ISI were
joint book-runners
    ** Prior to offering, RCUS had 91.5 mln outstanding shares
for $1.20 bln market cap, per LSEG data

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))