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Dec 31, 2021
Arcus Biosciences Q4 2021 Earnings Report
Reported financial results for the fourth quarter and year ended December 31, 2021 and provided a corporate update on its six clinical-stage molecules.
Key Takeaways
Arcus Biosciences reported strong financial results for Q4 2021, driven by license revenue from Gilead's option exercise. The company is advancing its clinical programs with a strong cash position, including multiple Phase 3 studies for domvanalimab.
Arcus is starting 2022 with a strong cash position and late-stage pipeline.
First patient was dosed in PACIFIC-8, a registrational Phase 3 study being conducted in collaboration with AstraZeneca.
Data from ARC-7, an ongoing randomized 150-patient three-arm study in first-line PD-L1≥50% NSCLC, are expected to be presented in 2H22.
Arcus met the first milestone under an agreement with BVF, which is focused on the discovery and development of a potentially first-in-class small molecule designed to treat a wide range of inflammatory conditions.
Forward Guidance
Arcus is focused on advancing its clinical programs and presenting data from ongoing trials.
Positive Outlook
- Presentations of randomized data for domvanalimab and etrumadenant in 1L PD-L1 high non-small cell lung cancer (NSCLC; ARC-7) are planned for 2H:22
- Initial pharmacokinetic (PK)/pharmacodynamic(PD) data for AB521, Arcus’s HIF-2a inhibitor, in healthy volunteers confirm its potential to have an improved clinical profile compared to the approved HIF-2a inhibitor; data to be presented at a conference this March
- First patient dosed in PACIFIC-8, a registrational, Phase 3 study evaluating domvanalimab plus durvalumab in unresectable, Stage 3 NSCLC with AstraZeneca
- Two additional Phase 3 studies for domvanalimab are planned for this year in lung and gastrointestinal cancers with Gilead
- Arcus is well positioned to advance its programs with $1.4 billion in cash and cash equivalents following receipt of option payments from Gilead Sciences in January 2022, which is expected to provide Arcus with funding into 2026
Challenges Ahead
- Potential difficulties or delays in initiating or conducting clinical trials due to the regulatory process.
Historical Earnings Impact
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