On June 27, 2023, Arcus Biosciences, Inc. ("Arcus") and Gilead Sciences, Inc. ("Gilead") reported to have entered into a Second Amended and Restated Common Stock Purchase Agreement (the "A&R Purchase Agreement"), which amends and restates in its entirety the Amended & Restated Common Stock Purchase Agreement entered into between Arcus and Gilead on January 31, 2021 (the "2021 SPA") (Filing, 8-K, Arcus Biosciences, JUN 28, 2023, View Source [SID1234632953]). Pursuant to the A&R Purchase Agreement, Gilead will purchase from Arcus 1,010,000 shares of Arcus common stock at a purchase price of $19.26 per share, subject to customary closing conditions. All other terms of the 2021 SPA, including Gilead’s option to purchase additional shares from Arcus, up to a maximum of 35% of Arcus’s then-outstanding common stock, from time to time until July 13, 2025, remain unchanged.

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The foregoing is only a brief description of the material terms of the A&R Purchase Agreement and does not purport to be a complete description of the rights and obligations of the parties thereunder and is qualified in its entirety by reference to the agreement, which will be filed as an exhibit to Arcus’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2023.