Arcus Biosciences reported its Q3 2021 financial results, highlighting the initiation of Gilead's opt-in review process for their anti-TIGIT program and providing updates on their clinical studies, including ARC-7 and ARC-8. The company ended the quarter with $743.4 million in cash and investments, expecting it to fund operations through at least 2023.
Both domvanalimab-containing arms demonstrated differentiated clinical activity compared to that of zimberelimab alone in a second interim analysis of ARC-7, a Phase 2 study in first-line metastatic non-small cell lung cancer (NSCLC).
Gilead Sciences has initiated its opt-in review process for Arcus's anti-TIGIT program, with a decision expected before the end of 2021; if exercised, Arcus would receive a $275 million opt-in payment.
Updated data from ARC-8, a Phase 1 study of quemliclustat, Arcus's small molecule anti-CD73 inhibitor for pancreatic cancer, is planned for fall 2021.
Arcus ended the quarter with $743.4 million of cash and investments and funding through at least 2023.
Arcus Biosciences anticipates several milestones in the near future across its clinical programs. Key expectations include full enrollment of ARC-7 by mid-2022 with data presentation later in the year, initiation of the PACIFIC-8 registrational Phase 3 study by the end of 2021, and an update on ARC-8 planned for this fall. The company is also planning additional Phase 3 studies of domvanalimab-based combinations and expects initial randomized data from ARC-4 in 1H22.
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