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

125.77M

Op. Cash Flow

$-482.00M

RCUS$30.38+254.08% · past yearDBEQ Basic

Daily closing prices

Business

Arcus Biosciences is a late clinical-stage biopharmaceutical company developing small-molecule and antibody therapies for cancer, inflammatory and autoimmune diseases. Its lead programs include casdatifan (HIF-2α inhibitor), quemliclustat (CD73 inhibitor), domvanalimab (anti-TIGIT antibody) and zimberelimab (anti-PD-1 antibody), with multiple Phase 3 registrational studies ongoing for oncology indications. Arcus maintains commercial rights to casdatifan in the U.S. and certain regions, while Gilead holds development and commercialization rights to other programs outside the U.S., and Taiho holds rights in Japan and select Asian territories.

Summary from 10-K filed 2026-02-25

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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Frequently asked questions

What is Arcus Biosciences, Inc.'s CIK number?

Arcus Biosciences, Inc.'s SEC CIK number is 0001724521 (1724521). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find Arcus Biosciences, Inc.'s SEC filings?

All of Arcus Biosciences, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did Arcus Biosciences, Inc. last report earnings?

Arcus Biosciences, Inc. (RCUS) most recently filed an earnings 8-K with the SEC on May 5, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001724521-26-000032). This is Arcus Biosciences, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is Arcus Biosciences, Inc.'s most recent earnings 8-K?

Arcus Biosciences, Inc.'s latest earnings 8-K (Item 2.02) was filed May 5, 2026 under accession 0001724521-26-000032. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

View Arcus Biosciences, Inc.'s latest earnings 8-K →
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