SCHEDULE: BlackRock Boosts Arcus Biosciences Stake to 10.4%

BlackRock, Inc. has reported an increased beneficial ownership of 10.4% in Arcus Biosciences Inc. common stock, holding 12,736,927 shares.

Summary

• BlackRock, Inc. has filed an Amendment No. 6 to Schedule 13G, disclosing its beneficial ownership in Arcus Biosciences Inc. common stock.
• As of December 31, 2025, BlackRock, Inc. beneficially owns 12,736,927 shares of Arcus Biosciences Inc. common stock.
• This ownership represents 10.4% of the total outstanding common stock of Arcus Biosciences Inc.
• BlackRock, Inc. holds sole voting power over 12,575,912 shares and sole dispositive power over 12,736,927 shares.
• The shares were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer.
• BlackRock Fund Advisors, a subsidiary of BlackRock, Inc., beneficially owns 5% or greater of the outstanding shares.

Sentiment

Score: 7

Explanation: The filing is a routine disclosure of a significant institutional ownership stake. It is positive for Arcus Biosciences as it indicates strong institutional confidence from a major asset manager, but it does not contain performance or operational news.

Positives

• BlackRock, Inc.'s significant 10.4% stake in Arcus Biosciences Inc. demonstrates strong institutional confidence in the company.
• The investment is stated to be in the ordinary course of business, suggesting a long-term, passive investment strategy by a major asset manager.

Risks

• The filing indicates that the securities were not acquired for the purpose of changing or influencing the control of the issuer, mitigating immediate control-related risks for Arcus Biosciences.

Future Outlook

The filing does not contain forward-looking statements or guidance regarding Arcus Biosciences Inc.'s operational or financial performance. It solely pertains to BlackRock, Inc.'s beneficial ownership and its intent to hold the shares in the ordinary course of business.

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11."

Industry Context

BlackRock, as one of the world's largest asset managers, frequently takes significant stakes in publicly traded companies across various sectors. Its 10.4% ownership in Arcus Biosciences, a biotechnology company, highlights continued institutional interest in the life sciences sector, potentially signaling confidence in Arcus's pipeline or market position.

Corporate Governance

Stakeholder Impact

• Shareholders of Arcus Biosciences Inc. may view BlackRock's substantial stake as a positive indicator of institutional confidence and long-term investment interest in the company.
• Potential investors might interpret this as a signal of fundamental strength or future growth potential, potentially influencing investment decisions.

Key Dates

Keywords

BlackRock, Arcus Biosciences, Institutional Ownership, Schedule 13G, Common Stock, Biotechnology, Investment, Beneficial Ownership