Shares of cancer therapy researcher Arcus Biosciences (RCUS) traded up over 50% in after-hours trading on Wednesday following a Bloomberg report indicating that Gilead Sciences (GILD) is considering acquiring a stake in the company.Arcus, which is partly backed by GV, Alphabet’s (GOOGL) venture capital investment unit, had previously dropped 7% in Wednesday’s trading.RCUS has a number of I/O [immuno-oncology] clinical assets, with AB154 (anti-TIGIT) receiving considerable attention following the advancement of a competitor candidate (Roche’s tiragolumab) into Phase III studies earlier this year.According to Mizuho Securities analyst Mara Goldstein such a move would make sense for Gilead. According to the …read more
Source:: Yahoo Finance
