Company: RCUS
Filing Date: 2025-02-18
Form Type: 424B5
Source: 0001193125-25-028669
Chunk: 15

Company: Arcus Biosciences, Inc.
Filing Date: 2025-02-18
Form: 424B5
Chunk 15
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 value per share of our common stock immediately after this offering. After giving effect to the sale of 13,636,364 shares of our common stock in this offering at the offering price of $11.00 per share, and after deducting underwriting discounts and commissions and estimated offering expenses payable by us, our as adjusted net tangible book value as of September 30, 2024 would have been $707 million, or $6.72 per share of common stock. This amount represents an immediate increase in net tangible book value of $0.54 per share to our existing stockholders and an immediate dilution in net tangible book value of $4.28 per share to new investors in this offering. The following table illustrates this dilution on a per share basis:

| Offering price per share                                                                      |     |   |      |     | $ | 11.00 |
| Net tangible book value per share as of September 30, 2024                                    |     | $ | 6.18 |     |   |       |
| Increase in net tangible book value per share attributable to investors purchasing our common 
 stock in this offering                                                                        |     |   | 0.54 |     |   |       |
| As adjusted net tangible book value per share after giving effect to this offering            |     |   |      |     |   |  6.72 |
| Dilution per share to investors purchasing our common stock in this offering                  |     |   |      |     | $ |  4.28 |

The above discussion and table are based on 91,501,460 shares of our common stock outstanding as of September 30, 2024 and excludes:

| • |     | 15,464,177 shares of our common stock issuable upon the exercise of all stock options outstanding as of 
 September 30, 2024, at a weighted-average exercise price of $20.36 per share;                           |

| • |     | 3,044,956 shares of common stock issuable upon the exercise of stock options granted after September 30, 
 2024, with a weighted-average exercise price of $13.40 per share;                                        |

| • |     | 2,992,440 shares of our common stock issuable upon the vesting and settlement of all restricted stock units 
 outstanding as of September 30, 2024;                                                                       |

| • |     | 2,269,342 shares of common stock issuable upon the vesting