Arcus Q2 net loss $75M, cash $1.0B; deprioritizes etrumadenant in mCRPC

Arcus Biosciences, Inc.

2024-Q2 EPS reported -$2.13 revenue$54,000,000

Cash $1.0B vs $1.1B at Dec 2022; 2023 cash burn guided $290-325M; funding into 2026.
Q2 net loss $75M vs $67M YoY; revenue $29M vs $27M; R&D expenses $84M vs $70M.
Domvanalimab ARC-7 data: 33% PFS risk reduction for doublet vs PD-1 monotherapy at ~18-mo follow-up.
Etrumadenant in mCRPC deprioritized; ARC-6 analysis shows insufficient clinical benefit to warrant further investment.
Gilead collaboration expanded to inflammation; Arcus gets $35M upfront; Gilead bought 1M shares at $19.26, raising stake to 19.9%.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Arcus Biosciences, Inc. reported financial results for the second quarter ended June 30, 2023.

Period: the second quarter ended June 30, 2023
Result: reported results

Exact text from the filing

Arcus Biosciences, Inc. issued a press release announcing its financial results for the three and six months ended June 30, 2023.

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Source: SEC EDGAR

accession 0000950170-23-038757

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