Arcus Q1 revenue jumps to $145M, net loss $4M; pipeline advances with ASCO presentations and Phase 3 enrollments

Arcus Biosciences, Inc.

2024-Q1 EPS reported -$0.05 revenue$145,000,000

Revenue $145M vs $25M YoY, including $135M license revenue from Gilead collaboration amendments.
Net loss $4M vs $80M YoY; cash $1.1B at quarter end; year-end 2024 cash expected $870-920M.
R&D expenses $109M (up from $81M); $20M impairment charge for facility sublease.
Two oral presentations at ASCO 2024: EDGE-Gastric (domvanalimab) and ARC-9 (etrumadenant) in GI cancers.
Phase 3 STAR-221 enrollment expected mid-2024; STAR-121 H2 2024; first Phase 3 for casdatifan in ccRCC planned H1 2025.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Arcus Biosciences, Inc. reported the first quarter ended March 31, 2024 results: revenue $145 million.

Period: the first quarter ended March 31, 2024
Revenue: $145 million
Result: reported results

Exact text from the filing

to fund operations into 2027. Cash, cash equivalents and marketable securities are expected to be between $870 million and $920 million at the end of 2024. • Revenues were $145 million for the first quarter 2024, compared to $25 million for the same period in 2023. In the first quarter 2024, Arcus recognized $135 million in license and development services

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Source: SEC EDGAR

accession 0001724521-24-000090

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