Gilead to Acquire Arcus Biosciences for $12.8B
Ticker: RCUS · Form: 8-K · Filed: Oct 14, 2025 · CIK: 1724521
Sentiment: bullish
Topics: acquisition, oncology, merger
TL;DR
Gilead buying Arcus for $12.8B cash, $66/share. Oncology play.
AI Summary
Arcus Biosciences, Inc. announced on October 12, 2025, that it has entered into a definitive agreement to be acquired by Gilead Sciences, Inc. The transaction is valued at approximately $12.8 billion, with Gilead paying $66.00 per share in cash for all outstanding shares of Arcus common stock. The acquisition is expected to close in the first half of 2026, subject to customary closing conditions.
Why It Matters
This significant acquisition by Gilead Sciences could accelerate the development of promising oncology treatments and expand its pipeline in a key therapeutic area.
Risk Assessment
Risk Level: medium — The deal is subject to regulatory approval and other closing conditions, which introduces a risk of the transaction not being completed.
Key Numbers
- $12.8B — Acquisition Value (Total cash consideration for Arcus Biosciences)
- $66.00 — Per Share Price (Cash payment for each share of Arcus common stock)
Key Players & Entities
- Arcus Biosciences, Inc. (company) — Company being acquired
- Gilead Sciences, Inc. (company) — Acquiring company
- $12.8 billion (dollar_amount) — Total transaction value
- $66.00 (dollar_amount) — Per share acquisition price
- October 12, 2025 (date) — Date of definitive agreement
- first half of 2026 (date) — Expected closing period
FAQ
What is the total value of the acquisition of Arcus Biosciences by Gilead Sciences?
The acquisition is valued at approximately $12.8 billion.
What is the per-share price Gilead Sciences is paying for Arcus Biosciences?
Gilead Sciences is paying $66.00 per share in cash.
When is the acquisition of Arcus Biosciences by Gilead Sciences expected to close?
The transaction is expected to close in the first half of 2026.
What is the date of the definitive agreement between Arcus Biosciences and Gilead Sciences?
The definitive agreement was entered into on October 12, 2025.
What is the primary therapeutic area of focus for Arcus Biosciences that Gilead Sciences is acquiring?
Arcus Biosciences focuses on oncology treatments, which Gilead Sciences aims to accelerate.
Filing Stats: 672 words · 3 min read · ~2 pages · Grade level 8.1 · Accepted 2025-10-14 09:00:00
Key Financial Figures
- $0.0001 — ch registered Common Stock, Par Value $0.0001 Per Share RCUS The New York Stock Excha
Filing Documents
- rcus-20251012.htm (8-K) — 33KB
- 0001724521-25-000109.txt ( ) — 145KB
- rcus-20251012.xsd (EX-101.SCH) — 2KB
- rcus-20251012_lab.xml (EX-101.LAB) — 21KB
- rcus-20251012_pre.xml (EX-101.PRE) — 12KB
- rcus-20251012_htm.xml (XML) — 3KB
01 Other Events
Item 8.01 Other Events. On October 12, 2025, Arcus Biosciences, Inc. (the "Company") announced the first overall survival results from Arm A1 of the Phase 2 EDGE-Gastric study in patients with locally advanced unresectable or metastatic gastric, gastroesophageal junction or esophageal adenocarcinoma. At data cutoff (March 3, 2025), safety and efficacy were evaluated in all patients enrolled and treated (n=41) and median study follow-up was 26.4 months. Efficacy was observed across all PD-L1 subgroups. With a median time on treatment of 49 weeks (range: <1-117 weeks), the domvanalimab plus zimberelimab and chemotherapy regimen demonstrated sustained efficacy with longer follow-up. A summary of the efficacy results is as follows: Overall* (N = 41) PD-L1 Positive (TAP 1%) (n = 29) PD-L1 High (TAP 5%) (n = 16) Median OS , months (90% CI) 26.7 (18.4, NE) 26.7 (19.5, NE) NE (17.4, NE) 24 months OS rate, % (90% CI) 50.2 (36.3, 62.6) 53.8 (37.3, 67.7) 56.3 (33.9, 73.6) Median PFS , months (90% CI) 12.9 (9.8, 14.6) 13.2 (11.3, 15.2) 14.5 (11.3, NE) 24 months PFS rate, % (90% CI) 25.9 (14.8, 38.5) 24.9 (12.1, 39.9) 31.3 (14.0, 50.2) Confirmed ORR, % (n) per RECIST v1.1 (90% CI) 59% (24) (45%, 72%) 62% (18) (45%, 77%) 69% (11) (45%, 87%) One patient did not have tissue available for central laboratory TAP scoring (SP263 assay). Local lab results showed the patient was PD-L1 low according to 22C3 assay. *All patients who enrolled and received study treatment. CI: confidence interval NE: not estimable TAP: tumor area positivity No unexpected safety signals were observed at the time of data cut off. The safety profile of domvanalimab plus zimberelimab and chemotherapy was generally well tolerated and is consistent with that of anti-PD-1 plus chemotherapy. Immune-mediated TEAEs related to domvanalimab and/or zimberelimab occurred in 9 patients (22%), and infusion-related reactions occurred in 3 patients (7%).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ARCUS BIOSCIENCES, INC. Date: October 14, 2025 By: /s/ Terry Rosen, Ph. D. Terry Rosen, Ph.D. Chief Executive Officer (Principal Executive Officer)