Arcus Q1 net loss $68M; ARC-7 domvanalimab arms continue to differentiate

Arcus Biosciences, Inc.

Cash $1.34B, up from $681M due to $725M from Gilead in Jan 2022; funding into 2026.
Q1 revenue $18M (up from $9.5M YoY); net loss improved to $68M from $72.6M YoY.
Third IA of ARC-7: domvanalimab arms showed meaningful differentiation in ORR and DoR vs anti-PD1 alone; no unexpected safety.
Phase 3 STAR-121 (domvanalimab+zim+chemo vs pembro+chemo) for 1L NSCLC PD-L1 all-comers planned Q4 2022.
R&D expenses $61.2M (down from $66.4M) due to cost-sharing with Gilead; G&A increased to $24M.

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