Why Arcus Biosciences Stock Vaulted Higher in November
Shares of the cancer specialist Arcus Biosciences (NYSE: RCUS) jumped by approximately 31% during the month of November, according to data from S&P Global Market Intelligence. The biotech's shares ripped higher last month in response to Gilead Sciences (NASDAQ: GILD) exercising its options to develop four of the company's clinical-stage cancer compounds.
Specifically, Gilead decided to go forth with the development of two anti-TIGIT antibodies, an A2a/2bR antagonist, as well as a small molecule CD73 inhibitor. Arcus, in turn, received a hefty $725 million upfront payment for the right to develop these four anti-cancer compounds.
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Source Fool.com
