Arcus Biosciences amends loan agreement to access up to $150M tied to clinical and FDA milestones

Arcus Biosciences, Inc.

First Amendment to Loan and Security Agreement with Hercules Capital dated December 18, 2025.
Up to $50M available after announcement of Phase 3 data supporting FDA filing; $50M after FDA approval.
$50M available at company's sole option through March 2026 and September 2026 ($25M each).
Maturity extended to September 1, 2030.
Performance covenants apply if draws exceed $200M: market cap ≥ $1.5B or cash/revenue thresholds.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Arcus Biosciences, Inc. amended credit facility of $150.0 million term loan commitments with Hercules Capital, Inc. maturing September 1, 2030.

Instrument: credit facility
Principal: $150.0 million term loan commitments
Counterparty: Hercules Capital, Inc.
Maturity: September 1, 2030
Event: amendment

Exact text from the filing

Agreement, dated as of August 27, 2024, by and among the Company, Hercules and the Lenders (the “Loan Agreement”). The First Amendment amends the terms for the remaining $150.0 million term loan commitments available under the loan facility such that, subject to customary terms and conditions, (a) $25.0 million is available at the Company's sole option through

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Arcus Biosciences, Inc. filing history →

Source: SEC EDGAR

accession 0001724521-25-000122

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