Arcus Biosciences, Inc.

Listed Company

RCUSCIK 0001724521NYSELarge AcceleratedPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$247.00M

Net Income

$-353.00M

Total Assets

$1.14B

Equity

$631.00M

Shares Out

125.35M

Op. Cash Flow

$-482.00M

Business

Arcus Biosciences, Inc. develops clinical-stage biopharmaceutical therapies focused on oncology and immuno-oncology. Its main products are investigational small molecules and antibodies, including programs targeting TIGIT, PD-1, HIF-2α, adenosine A2a/A2b receptors, CD73, CD39 and AXL (e.g., domvanalimab, zimberelimab, casdatifan, etrumadenant, quemliclustat, AB598, AB801). The company operates as a single reportable operating segment centered on discovery, clinical development and advancement of combination regimens. It distributes investigational products through strategic collaborations and third-party manufacturers, with commercialization rights managed via partners across U.S., Asia and other global territories.

Summary from filing dated 2025-02-25

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenues	247	258	117	112	—
Research and development (Includes $25, ($39) and ($110) payments to/(from) a related party)	523	448	340	288	257
General and administrative (Includes $5, $2 and $ payments to a related party)	110	120	117	104	72
Impairment of long-lived assets (see Note 14, Leases)	0	20	0	0	—
Total operating expenses	633	588	457	392	329
Loss from operations	−386	−330	−340	−280	54
Interest and other income, net	41	52	41	16	1
Interest expense	−8	−4	−2	−2	—
Total non-operating income, net	33	48	39	14	1
Loss before income taxes	−353	−282	−301	−266	55
Income tax expense	0	−1	−6	−1	−2
Net loss	−353	−283	−307	−267	53
Net loss per share, basic (in dollars per share)	−3.29	−3.14	−4.15	−3.71	—
Net loss per share, diluted (in dollars per share)	−3.29	−3.14	−4.15	−3.71	—
Shares used to compute net loss per share, basic (in shares)	107	90	74	72	69
Shares used to compute net loss per share, diluted (in shares)	107	90	74	72	74

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	222	150	127	206	148
Marketable securities	759	828	632	803	351
Receivable from collaboration partners ($ and $6 from a related party)	11	20	38	39	745
Prepaid expenses and other current assets	15	18	34	19	18
Total current assets	1,007	1,016	831	1,067	1,262
Long-term marketable securities	29	14	107	129	182
Property and equipment, net	40	47	51	35	32
Other noncurrent assets	63	73	106	114	116
Total assets	1,139	1,150	1,095	1,345	1,592
Accounts payable ($24 and $ to a related party)	42	18	17	20	10
Deferred revenue ($35 and $85 to a related party)	35	85	91	97	102
Other current liabilities	154	123	76	76	54
Total current liabilities	231	226	184	193	166
Deferred revenue, noncurrent ($43 and $234 to a related party)	43	234	307	355	462
Long-term debt	99	48	0	—	—
Other noncurrent liabilities	135	157	142	140	122
Commitments (Note 17)	—	—	—	—	—
Common stock and additional paid-in capital: $0.0001 par value per share; 400.0 shares authorized; 125.3 shares in 2025 and 92.2 shares in 2024 issued and outstanding	2,116	1,617	1,311	1,206	1,118
Accumulated deficit	−1,485	−1,132	−849	−542	−275
Total stockholders equity	631	485	462	657	842
Total liabilities and stockholders equity	1,139	1,150	1,095	1,345	1,592

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net loss	−353	−283	−307	−267	53
Stock-based compensation expense	60	76	73	65	55
Depreciation and amortization	10	10	8	6	4
Noncash lease expense	7	7	8	8	3
Amortization of discounts on marketable securities	−13	−25	−19	0	5
Other items, net	1	3	2	3	0
Receivable from collaboration partners ($6, $14 and $19 from a related party)	9	28	15	704	−17
Other assets ($, $6 and ($4) from a related party)	5	22	−14	2	−3
Accounts payable ($24, $, and $ to a related party)	24	3	−1	8	−5
Deferred revenue (($240), ($56) and ($77) to a related party)	−240	−56	−68	−112	−368
Other liabilities	8	25	−3	21	17
Net cash used in operating activities	−482	−170	−306	438	−256
Purchases of marketable securities	−1,076	−1,043	−788	−1,241	−719
Proceeds from maturities of marketable securities	1,073	929	982	694	690
Proceeds from sales of marketable securities	71	36	24	143	51
Purchases of property and equipment	−2	−6	−24	−6	−26
Net cash provided by (used in) investing activities	66	−84	194	−413	−4
Proceeds from issuance of common stock ($14, $228 and $20 from a related party), net	429	228	25	0	220
Proceeds from debt issuances, net	49	47	0	0	—
Proceeds from issuance of common stock pursuant to equity award plans	10	9	8	23	12
Payments of employee taxes related to net settlement of equity awards	0	−7	0	0	—
Net cash provided by financing activities	488	277	33	33	237
Net increase (decrease) in cash, cash equivalents and restricted cash	72	23	−79	58	−23
Income taxes paid	0	0	5	3	0
Interest paid	7	1	0	0	—
Unpaid portion of property and equipment purchases included in Accounts payable and Other current liabilities	0	0	2	3	1

Filings

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