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Why Arcus Biosciences Stock Vaulted Higher in November

·2 min read
Why Arcus Biosciences Stock Vaulted Higher in November
In this article:
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  • RCUS
  • GILD

The biotech's shares ripped higher last month in response to Gilead Sciences (NASDAQ: GILD) exercising its options to develop four of the company's clinical-stage cancer compounds. Specifically, Gilead decided to go forth with the development of two anti-TIGIT antibodies, an A2a/2bR antagonist, as well as a small molecule CD73 inhibitor. Arcus, in turn, received a hefty $725 million upfront payment for the right to develop these four anti-cancer compounds.