Who Owns Arcus Biosciences Company?

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Who Really Controls Arcus Biosciences?

Unraveling the ownership of Arcus Biosciences is key to understanding its strategic maneuvers and future potential. A significant shift occurred in January 2024, when Gilead Sciences made a substantial equity investment, reshaping the company's landscape. This exploration delves into the intricate web of Arcus Biosciences SWOT Analysis, offering critical insights for investors and stakeholders.

Understanding who owns Arcus Biosciences, including its major shareholders and the influence of its executives, is vital for anyone tracking the company's progress. This deep dive examines the evolution of Arcus Biosciences ownership, from its inception to the present day, including its institutional investors and the impact of key partnerships. Analyzing the Arcus Biosciences stock and its historical performance provides valuable context for making informed decisions about this innovative biopharmaceutical firm and its future.

The story of Arcus Biosciences begins with its co-founders, Terry Rosen, Ph.D., and Juan Jaen, Ph.D. They launched the company in May 2015, bringing with them a wealth of experience, including their prior venture, Flexus Biosciences, which was acquired by Bristol-Myers Squibb in 2015. Their vision centered on developing innovative cancer treatments by leveraging advancements in immunology.

Arcus Biosciences' initial funding and subsequent investment rounds highlight a strategic approach to securing capital and establishing a strong foundation for growth. The early support from both the founders and strategic investors played a crucial role in shaping the company's trajectory.

The early ownership of Arcus Biosciences was significantly influenced by the founders' initial investments and subsequent funding rounds. These rounds attracted strategic investors with expertise in the biotech sector.

Founders

Terry Rosen, Ph.D., CEO, and Juan Jaen, Ph.D., President, co-founded Arcus Biosciences in May 2015.

Initial Funding

The founders, along with friends and family, provided the initial funding of $30 million.

Series A Round

The Series A round, completed in May 2015, raised a total of $49.7 million. Key investors included Novartis, Celgene Corporation, The Column Group (TCG), and Foresite Capital.

Series B Round

The Series B round, completed in August 2016, added an additional $70 million. GV (Google Ventures) led the round, with participation from Invus, Taiho Ventures, DROIA Oncology Ventures, and Stanford University.

Key Highlights

The early Arcus Biosciences ownership structure reflects a strategic approach to securing capital and expertise.

• The founders' initial investment demonstrated their commitment to the company's vision.
• Strategic investors, such as Novartis and Celgene, brought industry expertise and resources.
• The participation of GV (Google Ventures) in the Series B round highlighted the company's potential.
• Stanford University's investment, stemming from in-licensing agreements, further solidified the company's research and development capabilities.

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The journey of Arcus Biosciences, a company focused on cancer therapies, began its public life on March 15, 2018. The initial stock price was $20. As of June 2025, the company's market capitalization stands at approximately $0.98 billion. This valuation reflects the market's assessment of the company's potential and its current standing in the competitive biotech landscape. Understanding the evolution of Arcus Biosciences ownership provides insights into its strategic direction and financial health.

A pivotal development in the Arcus Biosciences ownership structure has been the increasing involvement of Gilead Sciences Inc. The collaboration between Arcus and Gilead, initiated in July 2020 with an upfront payment and initial equity investment of $375 million, marked a significant partnership. Gilead's stake grew from about 13% to 19.5% in February 2021, following the purchase of 5,650,000 additional shares at $39.00 per share. In January 2024, Gilead further solidified its commitment by investing an additional $320 million in Arcus common stock at $21.00 per share, increasing its ownership to 33%. As of February 18, 2025, Gilead Sciences directly held 31,424,760 shares of Arcus Biosciences. This strategic expansion underscores Gilead's confidence in the joint development programs, especially in the anti-TIGIT program.

Beyond Gilead, a substantial portion of Arcus Biosciences stock is held by institutional investors. By the first quarter of 2025, there were 424 institutional owners and shareholders, collectively holding 108,764,543 shares. Key institutional investors include BlackRock, Inc., Vanguard Group Inc, Woodline Partners LP, Fmr Llc, and State Street Corp. Other notable investors as of Q1 2025 include Point72 Asset Management, L.P., Suvretta Capital Management, Llc, and RA Capital Management, L.P. The presence of these institutional investors highlights a broad base of professional investment in the company, reflecting confidence in its long-term prospects. For more details on the company's strategic direction, you can read about the Growth Strategy of Arcus Biosciences.

Key Takeaways on Arcus Biosciences Ownership

The ownership structure of Arcus Biosciences has evolved significantly, marked by the increasing investment from Gilead Sciences.

• Gilead's ownership has grown substantially, reflecting its commitment to joint development programs.
• Institutional investors hold a significant portion of the company's shares, indicating broad market confidence.
• Understanding the Arcus Biosciences ownership structure offers valuable insights into the company's strategic direction and financial health.
• The company's market cap is approximately $0.98 billion as of June 2025.

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The current Board of Directors of Arcus Biosciences includes representatives from major shareholders and independent members. Following Gilead Sciences' increased equity investment in January 2024, Gilead now has three director designees on the Arcus Board. Johanna Mercier, Chief Commercial Officer at Gilead Sciences, joined the Arcus Board as a result of this amendment. This expanded representation on the board for Gilead reflects their significant ownership stake and aims to facilitate streamlined decision-making within the collaboration.

The board composition reflects the company's ownership structure, with key investors having representation. The presence of Gilead Sciences, a major shareholder, on the board, indicates a strong influence on the company's strategic direction. The board's role is to oversee the company's operations and ensure alignment with shareholder interests. The board typically includes a mix of executive and non-executive directors, bringing diverse expertise to the table. The board's decisions impact the company's financial performance, strategic initiatives, and overall governance.

While specific details on dual-class shares or special voting rights are not readily available, the substantial ownership by Gilead Sciences, coupled with their increased board representation, suggests a strong influence over the company's strategic direction and governance. The standard voting structure for publicly traded companies in the US is typically one-share-one-vote, and there is no indication of a deviation from this for Arcus Biosciences. Understanding the board's composition and the voting power of major shareholders is crucial for assessing the company's governance and strategic direction. The board's decisions and oversight play a vital role in the company's financial health and future prospects.

Arcus Biosciences Board and Ownership

The board of directors at Arcus Biosciences includes representatives from major shareholders, particularly Gilead Sciences. Gilead Sciences holds a significant ownership stake, influencing the company's strategic direction.

• Gilead Sciences has three director designees on the Arcus Board.
• The board composition reflects the company's ownership structure.
• The board oversees operations and ensures alignment with shareholder interests.
• Understanding the board's composition is crucial for assessing governance.

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Over the past few years, the Arcus Biosciences ownership landscape has seen significant shifts, primarily due to its deepening collaboration with Gilead Sciences. In January 2024, Gilead made a substantial equity investment of $320 million, which increased its ownership stake to 33%. This investment was part of an amended collaboration agreement designed to accelerate the domvanalimab program. This strategic partnership and equity investment by a major pharmaceutical company like Gilead highlight the trend of consolidation and strategic alliances in the biopharmaceutical sector.

As of December 31, 2024, Arcus Biosciences' cash, cash equivalents, and marketable securities were reported at $992 million. This was primarily due to the $320 million equity investment from Gilead in January 2024, along with a $100 million option continuation payment from Gilead in July 2024. The company anticipates that its cash and investments will fund operations into 2027, supporting pivotal readouts for key programs, including domvanalimab, quemliclustat, and casdatifan. For further insights into the company's approach, consider exploring the Marketing Strategy of Arcus Biosciences.

Institutional ownership remains a key trend for Arcus Biosciences. While there were overall institutional outflows of $62.37 million in the last 12 months, some institutions, like Goldman Sachs Group Inc. and Jacobs Levy Equity Management Inc., increased their holdings significantly in May 2025. Goldman Sachs Group Inc. increased its holdings by 106.2%, and Jacobs Levy Equity Management Inc. increased its holdings by 108.9%. For the full year 2025, Arcus Biosciences expects GAAP revenue between $75 million and $90 million, driven by the Gilead collaboration. The company is focused on advancing late-stage oncology assets and exploring partnerships for commercialization outside the U.S.

Key Shareholders

Major institutional shareholders include Woodline Partners LP, Goldman Sachs Group Inc., and Parkman Healthcare Partners LLC. These institutions hold significant stakes in the company.

Gilead's Investment

Gilead Sciences made a $320 million equity investment in January 2024, increasing its ownership to 33%. This was part of a broader collaboration agreement.

Financial Outlook

Arcus Biosciences anticipates its cash and investments will fund operations into 2027. The company expects GAAP revenue between $75 million and $90 million for 2025.

Institutional Activity

While there were overall institutional outflows in the last 12 months, some institutions increased their holdings in May 2025, indicating continued interest.

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