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 story : Arcus Biosciences shares rocket premarket after Gilead exercises options for 3 cancer programs for 5 million #FinanceUSA #StockMarketNEWS Shares of Arcus Biosciences Inc. rocketed 21% in premarket

@stockMarketNEWS 19 Days ago

Posted in: #FinanceUSA #StockMarketNEWS

Arcus Biosciences shares rocket premarket after Gilead exercises options for 3 cancer programs for 5 million #FinanceUSA #StockMarketNEWS
Shares of Arcus Biosciences Inc. rocketed 21% in premarket trading Thursday, after Gilead Sciences Inc. said it's exercising options to three programs in the company's clinical-stage portfolio for payments of 5 million. The programs in question include anti-TIGIT molecules, domvanalimab and AB308, as well as etrumadenant and quemliclustat, treatments for different cancers. The companies have also agreed to a research collaboration that will allow them to add Gilead portfolio candidates to existing Arcus studies. "The addition of three mid- to late-stage clinical programs into our oncology pipeline significantly expands the number of transformational medicines we can potentially deliver to people with cancer, while also enabling our pursuit of novel combinations," Gilead CEO Daniel O'Day said in a statement. Arcus shares have gained 42% in the year to date, while the SPDR S&P Biotech ETF has fallen 12.7% and the S&P 500 has gained 25%.


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