Latham & Watkins Advises Arcus Biosciences in US$250 Million Public Offering of Common Stock

Arcus Biosciences, Inc. (NYSE: RCUS), a clinical-stage, global biopharmaceutical company focused on developing differentiated molecules and combination therapies for patients with cancer, inflammatory and autoimmune diseases, has announced the pricing of an underwritten public offering of 13,700,000 shares of its common stock at a price to the public of US$18.25 per share. Gross proceeds to Arcus Biosciences from the offering are expected to be US$250 million, before deducting underwriting discounts and commissions and offering expenses. All of the shares of common stock are being offered by Arcus Biosciences. In addition, Arcus Biosciences has granted the underwriters a 30-day option to purchase up to 2,055,000 additional shares of its common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on November 3, 2025, subject to customary closing conditions.

Latham & Watkins LLP represents Arcus Biosciences in the offering with a corporate team led by Bay Area partners Mark Roeder and John Williams, with associates Caitlin Nguyen and Eddie Magana, and assistance from Connor McCroskey. 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 partner Grace Lee, with associate Dennis Poehland; and on compensation and benefits matters by Bay Area partner Jay Metz.