** Arcus Biosciences shares RCUS.N drop 4% to $12.57 premarket
** Arcus's 13.6 mln stock offering priced at $11 each, a 16% discount to last close
** Co plans to use gross proceeds of ~$150 mln to develop its experimental kidney cancer drug and for other purposes
** Goldman Sachs, Leerink Partners and Evercore ISI were joint book-runners
** Prior to offering, RCUS had 91.5 mln outstanding shares for $1.20 bln market cap, per LSEG data
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
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