---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-21-004749"
form_type: "8-K"
ticker: "RCUS"
cik: "0001724521"
company_name: "Arcus Biosciences, Inc."
filed_at: "2021-11-18T23:59:59+00:00"
generated_at: "2026-06-28T07:03:30.874066+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Gilead exercises options on three Arcus programs for $725M; co-development and profit sharing

## Summary
- Gilead paid $725M in option fees to exercise rights to three Arcus programs: anti-TIGIT, adenosine antagonist, and CD73.
- Companies will co-develop and equally share US profits/losses; Gilead gets ex-US rights with mid-teens to low-twenties royalties.
- Two new research targets added; Gilead can option each for $60M after IND-enabling activities; royalties high-single to low-double digits.
- The existing $100M 2022 Continuation Payment will be eliminated if all three programs close; reduced if fewer close.
- Transaction subject to HSR antitrust review.

## SEC filing metadata
- accession: 0000950170-21-004749
- form_type: 8-K
- ticker: RCUS
- cik: 0001724521
- company_name: Arcus Biosciences, Inc.
- filed_at: 2021-11-18T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1724521/000095017021004749/0000950170-21-004749-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1724521/000095017021004749/rcus-20211117.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-21-004749
- JSON: https://secwatch.observer/filing/0000950170-21-004749.json
- Plain text: https://secwatch.observer/filing/0000950170-21-004749.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.