Arcus Biosciences drops after starting stock offering
RCUS•Arcus Biosciences shares fell 4.4% to $18.26 in extended trading after the company launched a stock offering without disclosing its size. It plans to use the proceeds for research and development, including clinical development of casdatifan, and general corporate purposes.
1. Offering details
Arcus Biosciences launched a stock offering, with Jefferies, Leerink and TD Cowen as joint bookrunners. The company intends to use net proceeds to fund research and development, including expanding and accelerating the clinical development program for casdatifan, and for other general corporate purposes.
