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Gilead invests $320M in Arcus, expands stake to 33% (NYSE:RCUS)

Sundry Photography Arcus Biosciences (NYSE:RCUS) shares jumped 16% in post-market trading Monday following news that partner Gilead Sciences (NASDAQ:GILD) has increased its stake in the company to 33% to help accelerate their joint development programs. Gilead upped its stake by buying $320M shares of Arcus at $21 per share. The deal entitles Gilead to an additional seat on Arcus’s board,…