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Jun 30, 2024
Arcus Biosciences Q2 2024 Earnings Report
Reported financial results for the second quarter ended June 30, 2024 and provided a pipeline update.
Key Takeaways
Arcus Biosciences reported second-quarter revenue of $39 million and a net loss of $93 million. The company's cash, cash equivalents, and marketable securities totaled $1.0 billion, expected to fund operations into 2027. Enrollment completed for Phase 3 study STAR-221, and multiple data presentations for Casdatifan are expected.
Data from the casdatifan 100 mg expansion cohort of ARC-20 are expected to be presented in Q4 2024.
PEAK-1, a Phase 3 study evaluating casdatifan in combination with cabozantinib, is expected to begin in the first half of 2025.
Patient enrollment has completed for the Phase 3 study STAR-221 for domvanalimab plus zimberelimab and chemotherapy.
Arcus is well-positioned to advance its full pipeline with $1.0 billion in cash, cash equivalents and marketable securities and runway into 2027.
Revenue by Segment
Forward Guidance
Arcus expects cash, cash equivalents and marketable securities to be between $885 million and $925 million at the end of 2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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