Here's Why Arcus Biosciences Stock Is Rising Today

Shares of Arcus Biosciences (NYSE: RCUS), a clinical-stage biopharmaceutical company, are on the move following a progress report for the company's most valuable asset at the moment. Investors hoping Gilead Sciences (NASDAQ: GILD) will exercise an option to license domvanalimab have driven the stock 14% higher as of 11:29 a.m. EDT on Thursday.

Earlier this year, Gilead Sciences signed a 10-year agreement to co-develop and co-commercialize a handful of Arcus Biosciences' next-generation cancer therapies. Gilead Sciences still has an option to pay Arcus $275 million for exclusive rights to domvanalimab, one of several anti-Tigit antibodies in clinical-stage testing. 

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