Here are the 10-Q quarterly reports from Arcus Biosciences, Inc. (RCUS) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow RCUS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full RCUS filings page.
Arcus Biosciences, Inc. reported third-quarter 2026 revenue of $9 million versus $26 million a year earlier and net loss of $128 million versus $135 million. In the first nine months, revenue was $67 million versus $214 million and net loss was $347 million versus $247 million. Lower collaboration revenue included the absence of a $143 million 2025 cumulative catch-up after Gilead terminated its etrumadenant rights.
As of September 30, 2026, Arcus had $694 million in cash, cash equivalents and marketable securities. In October 2026, it sold 16.4 million shares at $17.50 per share for approximately $288 million in gross proceeds. Arcus said it believed September liquidity plus the October financing would be sufficient for planned operations into 2029. Gilead's access to the broader R&D pipeline ended July 14, 2026, after it declined the $100 million sixth-anniversary continuation payment; it retained time-limited options to AXL, CD39 and TNF programs and an oncology research program.
October 2026 ARC-20 data, with a September 4, 2026 cutoff, included median progression-free survival of 14.5 months for second-line casdatifan plus cabozantinib (43 patients; 21.3 months' median follow-up). Arcus also announced that Phase 3 PACIFIC-8, testing domvanalimab plus durvalumab versus durvalumab alone in Stage III unresectable NSCLC, was discontinued in August 2026.
Arcus Biosciences reported Q2 2026 total revenues of $41 million, down from $160 million a year earlier, mainly because Q2 2025 included a $143 million cumulative catch-up from Gilead’s termination of etrumadenant rights. Q2 2026 revenues remained heavily concentrated, with Gilead contributing 80% of total revenue.
Research and development expense fell 19% to $113 million and general and administrative expense declined 17% to $24 million, reflecting streamlining and wind-down of domvanalimab studies. Net loss for the quarter was $91 million, or $0.72 per share. Cash, cash equivalents and marketable securities totaled $775 million as of June 30, 2026, which the company believes will fund planned operations until at least the second half of 2028; long-term debt was $101 million.
Strategically, broad Gilead option rights over Arcus’s early-stage pipeline ended on July 14, 2026, though Gilead retains time-limited options to selected programs and continues to hold about 24.7% of Arcus’s common stock. Arcus advanced its HIF-2α inhibitor casdatifan through new collaborations with Bristol Myers Squibb, Summit Therapeutics and AVEO, while discontinuing the Phase 3 STAR-121 and PACIFIC-8 TIGIT trials.
Arcus Biosciences reported a deeper quarterly loss as collaboration revenue declined while it continued funding late‑stage trials. For the three months ended March 31, 2026, total revenue was $17 million, down from $28 million a year earlier, mainly due to lower Gilead collaboration revenue.
Research and development expense held flat at $122 million, and general and administrative expense was $29 million. Net loss widened to $128 million, or $(1.02) per share, from $112 million. Cash, cash equivalents and marketable securities totaled $876 million, and the company believes this will fund operations until at least the second half of 2028.
Arcus highlighted pipeline and partnership changes, including discontinuation of the Phase 3 STAR‑121 lung cancer trial for futility and Gilead’s decision not to make the sixth‑anniversary option continuation payment, which will end Gilead’s broad option rights on July 14, 2026 while preserving certain time‑limited options.
Arcus Biosciences (RCUS) reported Q3 2025 results. Total revenues were $26 million, down from $48 million a year ago, driven by collaboration revenue timing. The company posted a net loss of $135 million versus a $92 million loss last year as research and development expense rose to $141 million and general and administrative expense was $27 million.
For the nine months, revenues were $214 million versus $232 million. A June modification to the Gilead collaboration following termination of etrumadenant rights led to a $143 million cumulative catch-up to revenue, which reduced basic and diluted net loss per share by $1.38 in the period.
Liquidity remained strong with $841 million in cash, cash equivalents and marketable securities as of September 30, 2025; management believes this funds operations for at least twelve months. Operating cash flow used was $362 million year-to-date. Deferred revenue declined to $105 million from $319 million at year-end, reflecting revenue recognition progress. Long-term debt was $98 million under the Hercules facility. Equity financing included a $150 million underwritten offering at $11.00 per share and $8 million via an at-the-market program. In October 2025, Taiho exercised its option for casdatifan for a $15 million payment.