Arcus Biosciences, a clinical-stage biotech developing cancer immunotherapies, announced terms for its IPO on Monday.
The Hayward, CA-based company plans to raise $99 million by offering 7.1 million shares at a price range of $13 to $15. At the midpoint of the proposed range, Arcus Biosciences would command a fully diluted market value of $600 million.
Arcus Biosciences was founded in 2015 and booked $1 million in revenue for the 12 months ended December 31, 2017. It plans to list on the NYSE under the symbol RCUS. Citi, Goldman Sachs and Leerink Partners are the joint bookrunners on the deal. It is expected to price during the week of March 12, 2018.
