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

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, has announced the pricing of an underwritten public offering of 14,285,715 shares of its common stock at a price to the public of US$17.50 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 2,142,857 additional shares of its common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on October 23, 2026, 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, Tony Noh, and Taleah Tyrell. Advice was also provided on intellectual property matters by San Diego counsel Robert Yeh; 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 Rothkoff; and on tax matters by Bay Area partner Grace M. Lee, with assistance from Francis Shih.