Arcus Biosciences, Inc.
- Open
- 30.98
- Day high
- 31.32
- Day low
- 29.41
- Prev close
- 30.83
- Volume
- 520K
- Mkt cap
- $3.9B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 7.4
- P/S
- 16.4
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$1.1M over the last 3 months (0 open-market buys, 6 sales)
- 🏛Institutions accumulating (13F)
Arcus Biosciences, Inc. (RCUS) is a Healthcare company listed on NYSE. The stock is up 282% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 6 sales (SEC Form 4).
Arcus Biosciences, Inc. (RCUS) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 5 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
RCUS earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 5, 2026 | $-0.92 | $-1.02 | -10.9% | $17M | -42.3% |
| Feb 25, 2026 | $-1.11 | $-0.89 | +19.8% | $33M | +32.3% |
| Oct 28, 2025 | $-1.33 | $-1.27 | +4.5% | $26M | +4.3% |
| Aug 6, 2025 | $-1.14 | $-0.08 | +93.4% | $160M | +392.6% |
| Feb 25, 2025 | $-1.17 | $-1.03 | +12.0% | $26M | -11.5% |
| Aug 8, 2024 | $-1.02 | $-1.02 | +0.0% | $39M | +52.3% |
| May 8, 2024 | $-0.97 | $-0.05 | +94.8% | $145M | +307.8% |
| Feb 21, 2024 | $-1.09 | $-1.08 | +0.9% | $31M | +10.0% |
| Feb 28, 2023 | $-0.99 | $-0.93 | +6.1% | $345000 | -98.5% |
| Nov 2, 2022 | $-1.05 | $-0.90 | +14.3% | $34M | +51.6% |
| Aug 3, 2022 | $-0.93 | $-0.93 | +0.0% | $27M | +24.0% |
| Feb 23, 2022 | $-0.74 | $3.71 | +601.4% | $354M | +2891.6% |
RCUS insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 24, 2026 | Jaen Juan C.officer: President | Sell | 9,236 | $27.03 |
| Jun 24, 2026 | Jaen Juan C.officer: President | Sell | 6,431 | $29.66 |
| Jun 24, 2026 | Jaen Juan C.officer: President | Sell | 1,697 | $28.06 |
| Jun 24, 2026 | Jaen Juan C.officer: President | Sell | 14,067 | $27.69 |
| Jun 12, 2026 | Tang Carolyn C.officer: General Counsel | Option | 34,090 | $2.57 |
| Jun 12, 2026 | Ribas Antonidirector | Grant | 16,900 | $23.30 |
| Jun 12, 2026 | FALBERG KATHRYN Edirector | Grant | 5,700 | — |
| Jun 12, 2026 | Lacey David L.director | Grant | 16,900 | $23.30 |
| Jun 12, 2026 | Lambert Nicoledirector | Grant | 16,900 | $23.30 |
| Jun 12, 2026 | Machado Patrickdirector | Grant | 5,700 | — |
| Jun 12, 2026 | Lacey David L.director | Grant | 5,700 | — |
| Jun 12, 2026 | KANEKO YASUNORIdirector | Grant | 16,900 | $23.30 |
| Jun 12, 2026 | PERLMAN ANDREW Jdirector | Grant | 5,700 | — |
| Jun 12, 2026 | Ribas Antonidirector | Grant | 5,700 | — |
| Jun 12, 2026 | PERLMAN ANDREW Jdirector | Grant | 16,900 | $23.30 |
Source: RCUS SEC Form 4 filings, latest Jun 24, 2026. For informational purposes only — not investment advice.
See the full RCUS insider & 13F page →Arcus Biosciences, Inc. company profile
Overview
Arcus Biosciences, Inc. (NASDAQ:RCUS) is a clinical-stage biopharmaceutical company founded in 2015 and headquartered in Hayward, California. The company went public in March 2018 and focuses on developing innovative cancer immunotherapies targeting the tumor microenvironment. Arcus has built a diverse pipeline of oncology treatments through both internal research and strategic partnerships with major pharmaceutical companies including Gilead Sciences, AstraZeneca, and Taiho Pharmaceutical. The company has advanced multiple drug candidates into late-stage clinical trials, with several programs expected to enter Phase 3 studies by 2025.
Business
Arcus Biosciences operates in the oncology immunotherapy sector, developing treatments that harness the body's immune system to fight cancer. The company's approach focuses on targeting the tumor microenvironment - the complex ecosystem surrounding cancer cells that often suppresses immune responses and helps tumors evade detection. The company's pipeline centers around several key therapeutic areas. Casdatifan (formerly AB521) is a HIF-2α inhibitor designed to treat renal cell carcinoma by blocking a protein that helps cancer cells adapt to low-oxygen environments. This represents the company's most advanced program, targeting a market opportunity estimated at $5 billion. Domvanalimab is an anti-TIGIT monoclonal antibody that works by blocking TIGIT, a checkpoint protein that suppresses immune responses against tumors. This drug is being tested in multiple cancer types including gastric and lung cancers. Quemliclustat (Quemli) is a CD73 inhibitor that blocks an enzyme responsible for producing adenosine, a molecule that suppresses immune activity in the tumor microenvironment. This treatment is being developed for pancreatic cancer, one of the most challenging cancers to treat. Etrumadenant is a dual A2a/A2b adenosine receptor antagonist that blocks adenosine signaling pathways, and AB801 is an AXL inhibitor targeting a protein involved in cancer cell survival and immune evasion. The company generates revenue primarily through collaboration agreements with pharmaceutical partners, representing approximately 100% of current revenues. These partnerships provide upfront payments, milestone payments, and potential royalties on future drug sales.
Revenue model
Arcus generates revenue through strategic pharmaceutical partnerships rather than product sales, as the company has not yet commercialized any treatments. The primary revenue streams include upfront licensing payments, research and development milestone payments, and potential future royalties from successful drug launches. The company's largest partnership is with Gilead Sciences, which made a $320 million equity investment in 2023 and has collaboration agreements covering multiple programs. AstraZeneca partners with Arcus on domvanalimab development, particularly for lung cancer applications. Taiho Pharmaceutical collaborates on CD73 inhibitor programs, while other partnerships exist with Strata Oncology and various licensing agreements. Arcus's business model depends heavily on successful clinical trial outcomes, as partnership payments are typically tied to achieving specific development milestones. The company plans to retain commercial rights for casdatifan in the United States while potentially partnering for European markets. Factors that could increase profitability include successful Phase 3 trial results leading to regulatory approvals, expansion of existing partnerships, and new collaboration agreements. Conversely, clinical trial failures, increased competition in immunotherapy, rising development costs, and regulatory setbacks could significantly impact the company's financial position. The biotechnology sector is characterized by high development costs, long timelines from discovery to market, and substantial regulatory risks. Success requires navigating complex clinical trials, obtaining FDA approval, and competing in increasingly crowded therapeutic areas where large pharmaceutical companies have significant advantages in resources and market access.
Competitive moat
Arcus Biosciences operates in a highly competitive biotechnology landscape with limited sustainable competitive advantages. The company's primary moat lies in its diverse pipeline of differentiated immunotherapy assets and strategic partnerships with established pharmaceutical companies. The partnerships with Gilead, AstraZeneca, and Taiho provide validation of the company's science and access to resources that smaller biotechs typically lack. The company's scientific differentiation comes from its focus on targeting multiple pathways within the tumor microenvironment simultaneously, rather than single-target approaches. For example, domvanalimab uses an FC-silent design that may offer safety advantages over competing TIGIT antibodies, while casdatifan demonstrates potentially superior pharmacokinetic properties compared to existing HIF-2α inhibitors like belzutifan. However, the moat is relatively weak due to several factors. The immunotherapy space is crowded with well-funded competitors including Bristol Myers Squibb, Merck, Roche, and numerous other biotechnology companies developing similar mechanisms of action. Patent protection provides some exclusivity, but successful drugs often face biosimilar competition after patent expiration. The company lacks commercial infrastructure and market presence compared to established pharmaceutical giants. The primary competitive threats come from large pharmaceutical companies with greater resources for clinical development and commercialization, as well as other biotechnology companies pursuing similar targets. The risk of clinical trial failures or competitors achieving superior results could quickly erode any perceived advantages. Additionally, the rapid pace of innovation in cancer immunotherapy means that today's cutting-edge approaches may become obsolete as new treatment modalities emerge.
Risks & safety
Arcus maintains a strong financial position with substantial cash reserves, though faces typical biotech risks of high cash burn and no current product revenues. • Cash Position: $1.0 billion in cash and short-term investments as of Q1 2025, providing runway into mid-2027 • Cash Burn: Quarterly operating cash flow of -$132 million in Q1 2025, indicating high development costs • Debt Level: Low debt-to-equity ratio of 0.11, minimal solvency risk in near term • Current Ratio: Strong liquidity at 5.37, indicating ability to meet short-term obligations • Valuation Metrics: Trading at negative earnings multiples due to development stage losses; Price-to-book ratio of 1.45 suggests reasonable valuation relative to assets • Revenue Visibility: Limited revenue predictability dependent on partnership milestones and clinical trial success • Other Considerations: Binary risk profile typical of clinical-stage biotechs, with potential for significant value creation or destruction based on trial outcomes; Strong partnership validation provides some risk mitigation
Recent development
Over the past few years, Arcus has executed a strategic pivot toward late-stage clinical development, advancing multiple programs into Phase 3 trials. The company's most significant development has been the progression of casdatifan (HIF-2α inhibitor) from early-stage research to preparing for Phase 3 studies, with the PEAK-1 trial expected to begin in the first half of 2025. Initial data from the ARC-20 study demonstrated promising efficacy compared to the existing standard of care, belzutifan, with a 34% overall response rate and low primary progression rates. The company has also advanced domvanalimab into multiple Phase 3 trials, including the STAR-221 study in gastric cancer and continuing development in lung cancer applications. The ARC-10 study data showed encouraging survival benefits, with a hazard ratio of 0.64 for overall survival when combined with zimberelimab. Arcus initiated the PRISM-1 Phase 3 study for quemliclustat in pancreatic cancer, representing entry into one of the most challenging oncology markets. The company has also been developing its inflammation and immunology pipeline, with plans to disclose new small molecule programs later in 2025. Strategically, Arcus has strengthened its financial position through major partnerships, including Gilead's $320 million investment in 2023 and a $150 million equity financing in February 2025. The company has made the decision to focus resources on its most promising programs while discontinuing development of etrumadenant (A2 receptor antagonist) to concentrate on higher-priority assets.
RCUS company profile · for informational purposes only — not investment advice.
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