On January 31, 2021, Arcus Biosciences, Inc. ("Arcus") and Gilead Sciences, Inc. ("Gilead") reported that it entered into an Amended and Restated Common Stock Purchase Agreement (the "A&R Purchase Agreement"), which amends and restates in its entirety the Common Stock Purchase Agreement entered into between Arcus and Gilead on May 27, 2020 (the "Original Purchase Agreement") (Filing, 8-K, Arcus Biosciences, JAN 31, 2021, View Source [SID1234574450]). Pursuant to the A&R Purchase Agreement, Gilead will purchase from Arcus 5,650,000 shares of Arcus common stock at a purchase price of $39.00 per share, subject to customary closing conditions. All other terms of the Original Purchase Agreement, 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 Annual Report on Form 10-K for the year ended December 31, 2020.