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Dec 31, 2019
Arcus Biosciences Q4 2019 Earnings Report
Announced fourth quarter and full year 2019 financial results and corporate updates.
Key Takeaways
Arcus Biosciences reported a net loss of $16.6 million for the fourth quarter of 2019, with collaboration and license revenue of $9.8 million. The company's cash, cash equivalents, and investments totaled $188.3 million as of December 31, 2019.
Advanced three molecules into randomized Phase 2 trials.
Entered into a clinical collaboration with Genentech to accelerate development of AB928.
Taiho exercised its option for zimberelimab for its territories.
Initiated ARC-7, a randomized Phase 2 clinical trial of AB154 for the treatment of non-small cell lung cancer (NSCLC).
Forward Guidance
Arcus Biosciences anticipates several corporate milestones and presentations.
Positive Outlook
- Initiate ARC-6, a Phase 1b/2 platform trial to evaluate the efficacy and safety of AB928 in multiple rationally selected combinations for the treatment of mCRPC in the first half of 2020.
- Preliminary Phase 2 randomization data from the two clinical collaborations with Genentech with AB928 in CRC and PDAC expected in the fourth quarter of 2020.
- Preliminary Phase 2 randomization data with AB154 from the ARC-7 trial in first-line NSCLC expected in the fourth quarter of 2020.
- Preliminary Phase 1b expansion data with AB928 in multiple tumor types expected starting in mid-2020.
- Phase 1a dose-escalation data in the ARC-8 trial evaluating AB680 in combination with zimberelimab and gemcitabine/nab-paclitaxel in patients with PDAC, anticipated starting in mid-2020; Phase 1b expansion cohort anticipated to start in mid-2020
Challenges Ahead
- Uncertainty associated with pharmaceutical product development and clinical trials
- Delays in clinical trials due to difficulties or delays in the regulatory process
Historical Earnings Impact
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