Company: RCUS
Filing Date: 2025-02-18
Form Type: 424B5
Source: 0001193125-25-028669
Chunk: 0

Company: Arcus Biosciences, Inc.
Filing Date: 2025-02-18
Form: 424B5
Chunk 0
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Filed Pursuant to Rule 424(b)(5)
Registration No. 333-270132 PROSPECTUS SUPPLEMENT (To Prospectus dated February 28, 2023) 13,636,364 Shares Common Stock We are offering 13,636,364 shares of our common stock. Our common stock is listed on the New York Stock Exchange under the symbol “RCUS.” On February 14, 2025, the last reported sale price of our common stock was $13.10 per share. Investing in our common stock involves risk. See the section titled “ Risk Factors” beginning on page S-8 of this prospectus supplement. Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the adequacy or accuracy of this prospectus supplement or the accompanying prospectus. Any representation to the contrary is a criminal offense.

|                                 |     | Per   
 Share |         |     | Total |             |
|:--------------------------------|:----|:------|--------:|:----|:------|------------:|
| Offering price                  |     | $     | 11.0000 |     | $     | 150,000,004 |
| Underwriting discounts and      
 commissions(1)                  |     | $     |  0.5775 |     | $     |   7,875,000 |
| Proceeds to us, before expenses |     | $     | 10.4225 |     | $     | 142,125,004 |

| (1) | See “Underwriting” for additional information regarding underwriting compensation. |

The underwriters expect to deliver the shares to purchasers against payment on or about February 19, 2025.

| Goldman Sachs & Co. LLC |     | Leerink Partners |     | Evercore ISI |

Prospectus Supplement dated February 18, 2025

TABLE OF CONTENTS PROSPECTUS SUPPLEMENT

|                                                                      |     | Page |      |
| ABOUT THIS PROSPECTUS SUPPLEMENT                                     |     |      | S-ii |
| PROSPECTUS SUPPLEMENT SUMMARY                                        |     |      | S-1  |
| RISK FACTORS                                                         |     |      | S-8  |
| SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS                    |     |      | S-9  |
| USE OF PROCEEDS                                                      |     |      | S-11 |
| DILUTION                                                             |