Arcus Biosciences has $694M in cash to advance its pipeline through pivotal trials, including the Phase 3 PRISM-1 study of quemliclustat in pancreatic cancer.

HAYWARD, Calif., October 22, 2026--Arcus Biosciences, Inc. (NYSE: RCUS), a late clinical-stage biopharmaceutical company focused on developing differentiated molecules and combinations for the treatment of cancer and immune diseases, today announced the pricing of an underwritten public offering of 14,285,715 shares of its common stock at a price to the public of $17.50 per share. Gross proceeds to Arcus Biosciences from the offering are expected to be $250.0 million, before deducting underwriti

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The company intends to grant underwriters a 30-day option for up to 15% of the shares offered; completion depends on market and other conditions.

New follow-up results suggest Arcus’ drug might be superior to a marketed Merck medicine. Elsewhere, Eli Lilly and AstraZeneca forged new partnerships.

Arcus Biosciences (RCUS) has an average rating of buy and mean price target of $41, according to ana