$RCUS

Arcus Biosciences, Inc.

CIK:0001724521|SEC Filings

Condensed Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues:
Total revenues	$ 41	$ 160	$ 58	$ 188
Operating expenses:
Research and development (Includes $2, $11, $2 and $6 from a related party)	113	139	235	261
General and administrative (Includes $—, $2, $— and $2 from a related party)	24	29	53	57
Total operating expenses	137	168	288	318
Loss from operations	(96)	(8)	(230)	(130)
Non-operating income (expense):
Interest and other income, net	8	10	17	21
Interest expense	(3)	(2)	(6)	(3)
Total non-operating income, net	5	8	11	18
Income (loss) before income taxes	(91)	0	(219)	(112)
Income tax expense	0	0	0	0
Net income (loss)	$ (91)	$ 0	$ (219)	$ (112)
Net income (loss) per share - basic (in dollars per share)	$ (0.72)	$ 0	$ (1.74)	$ (1.09)
Net income (loss) per share - diluted (in dollars per share)	$ (0.72)	$ 0	$ (1.74)	$ (1.09)
Shares used to compute net income (loss) per share, basic (in shares)	126.1	106.1	125.7	102.3
Shares used to compute net income (loss) per share, diluted (in shares)	126.1	106.5	125.7	102.3
License and development services
Revenues:
Total revenues	$ 16	$ 152	$ 28	$ 172
Other collaboration
Revenues:
Total revenues	$ 25	$ 8	$ 30	$ 16

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net loss	$ (219)	$ (112)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense	34	31
Depreciation and amortization	5	5
Noncash lease expense	4	3
Amortization of discounts on marketable securities	(5)	(7)
Other items, net	2	0
Changes in operating assets and liabilities:
Receivable from collaboration partners ($— and $2 from a related party)	5	5
Other assets	(3)	(1)
Accounts payable (($12) and $13 to a related party)	(8)	11
Deferred revenue (($48) and ($188) to a related party)	(54)	(188)
Other liabilities	(18)	(12)
Net cash used in operating activities	(257)	(265)
Cash flows from investing activities
Purchases of marketable securities	(332)	(514)
Proceeds from maturities of marketable securities	482	615
Proceeds from sales of marketable securities	16	69
Purchases of property and equipment	0	(1)
Net cash provided by investing activities	166	169
Cash flows from financing activities
Proceeds from issuance of common stock ($— and $14 from a related party)	0	142
Proceeds from debt issuances, net	0	49
Proceeds from issuance of common stock pursuant to equity award plans	19	3
Net cash provided by financing activities	19	194
Net increase (decrease) in cash, cash equivalents and restricted cash	(72)	98
Cash, cash equivalents and restricted cash at beginning of period	225	153
Cash, cash equivalents and restricted cash at end of period	$ 153	$ 251

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 150	$ 222
Marketable securities	552	759
Receivable from collaboration partners	36	11
Prepaid expenses and other current assets	18	15
Total current assets	756	1,007
Long-term marketable securities	73	29
Property and equipment, net	36	40
Other noncurrent assets	59	63
Total assets	924	1,139
Current liabilities:
Accounts payable ($12 and $24 to a related party)	34	42
Deferred revenue ($11 and $35 to a related party)	19	35
Other current liabilities	145	154
Total current liabilities	198	231
Deferred revenue, noncurrent ($19 and $43 to a related party)	37	43
Long-term debt	101	99
Other noncurrent liabilities	124	135
Commitments
Stockholders’ equity:
Common stock and additional paid-in capital: $0.0001 par value per share; 400.0 shares authorized; 127.0 shares in 2026 and 125.3 shares in 2025 issued and outstanding	2,169	2,116
Accumulated deficit	(1,704)	(1,485)
Accumulated other comprehensive loss	(1)	0
Total stockholders’ equity	464	631
Total liabilities and stockholders’ equity	$ 924	$ 1,139