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Arcus Biosciences Retains Rights to Casdatifan and Announces Pricing of $150 Million Common Stock Offering

“We are thrilled to retain ownership of casdatifan, which has the potential to address a significant unmet need for patients with an estimated $5 billion market opportunity. Owning the rights to casdatifan represents a transformational change for Arcus, providing us with significant future strategic optionality,” said Terry Rosen, Ph.D., chief executive officer of Arcus. “Data just presented in an oral presentation at the ASCO GU conference demonstrated casdatifan’s potential to be the best-in-class HIF-2a inhibitor in what appears to be a two-horse race. We anticipate that every patient with ccRCC will receive a HIF-2a inhibitor, and our development plan is designed to position casdatifan as the HIF-2a inhibitor of choice. This includes the initiation of our Phase 3 PEAK-1 study in the IO-experienced setting, and our clinical collaboration with AstraZeneca with the eVOLVE study, which will combine casdatifan with their anti-PD-1/CTLA-4 bispecific in the IO-naive setting.”

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