Why Arcus Biosciences Stock Is On Fire Today

Shares of Arcus Biosciences (NYSE:RCUS) jumped by as much as 21% in premarket trading Thursday morning. The biotech's stock is heating up in early morning action today on the news that Gilead Sciences (NASDAQ:GILD) has decided to exercise its options for Arcus' two anti-TIGIT molecules, domvanalimab and AB308, as well as for the adenosine receptor antagonist etrumadenant and the small molecule CD73 inhibitor quemliclustat.