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Dec 31, 2020
Arcus Biosciences Q4 2020 Earnings Report
Arcus Biosciences reported financial results and provided operational highlights.
Key Takeaways
Arcus Biosciences reported fourth-quarter financial results, highlighting a cash balance of $735.1 million and an additional $220.4 million received from Gilead after year-end. The company is advancing its pipeline, including registrational trials for domvanalimab and multiple data readouts expected in 2021.
Gilead increased its ownership in Arcus from approximately 13.0% to 19.5%.
Arcus initiated ARC-10, its first registrational trial, evaluating domvanalimab + zimberelimab vs. zimberelimab vs. chemotherapy in first-line PD-L1≥50%, locally advanced or metastatic NSCLC.
Promising preliminary data from the dose-escalation portion of ARC-8, evaluating AB680 in combination with zimberelimab and gemcitabine/nab-paclitaxel in first-line metastatic pancreatic cancer, were presented at ASCO GI in January.
Arcus received IND clearance for AB308, Arcus’s FcR-enabled anti-TIGIT antibody, in January.
Forward Guidance
Arcus Biosciences anticipates multiple key data read-outs in 2021, including the ARC-7 interim analysis in Q2 2021. The company expects to continue advancing AB680 in pancreatic cancer and expand its clinical program to other tumor types. Arcus also plans to advance at least one new small molecule program into clinical development in the second half of 2021.
Positive Outlook
- Interim analysis from ARC-7 is expected in the second quarter of 2021, with a directional update on the data planned at that time.
- More mature data from ARC-8, including data from the dose-escalation and dose-expansion cohorts, are expected to be presented at a medical conference in the second half of 2021.
- Updated data from ARC-3, including overall survival and progression-free survival data for the 3L+ mCRC cohort, will be presented at the AACR Virtual Meeting in April and May 2021.
- Initial data from Stage 1 of ARC-6 are expected to be presented in the second quarter of 2021.
- Initial randomized data from ARC-4 are expected to be presented at a medical conference in the second half of 2021.
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