Arcus mum on report of Gilead’s approach

Shares of oncology company Arcus rose sharply Thursday as the company remained quiet about a published report that said Gilead had approached it about a partnership or equity investment.

Arcus Biosciences Inc. (NYSE:RCUS) gained $14.01 (90%) to $29.50, adding more than $640 million in market cap, after a Bloomberg report citing undisclosed sources late Wednesday signaled interest by Gilead Sciences Inc. (NASDAQ:GILD) in a deal. Arcus did not respond to inquiries on Thursday. ...