Arcus to raise $99M IPO; Vanda wants marketing approval for jet lag
→ Clinical-stage cancer immunotherapy maker Arcus Biosciences has set out to raise $99 million in an IPO, offering 7.1 million shares at a price range of $13 to $15 per share. At the midpoint of that range, the company would get a market value of $600 million, according to Renaissance Capital. The company plans to list on the NYSE under the ticker $RCUS. The IPO is expected to price on March 12. Based in Hayward, California, Arcus’s portfolio includes AB928, a dual antagonist of adenosine receptors; AB122, a monoclonal antibody that blocks PD-1; AB680, an inhibitor of CD73 responsible for the extracellular production of adenosine within the tumor micro-environment; and AB154, a monoclonal antibody that blocks a novel immune checkpoint.
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