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Dec 31, 2022
Arcus Biosciences Q4 2022 Earnings Report
Arcus Biosciences reported financial results and provided a pipeline update.
Key Takeaways
Arcus Biosciences reported fourth-quarter and full-year 2022 financial results. The company's cash, cash equivalents, and marketable securities were $1.1 billion. Revenues were $34 million for the fourth quarter 2022, and net loss was $67 million.
Arcus established itself as a late-stage company and made tremendous progress in the advancement of its pipeline.
Arcus initiated multiple registrational Phase 3 studies evaluating domvanalimab-based combinations versus standard of care.
Arcus advanced AB521, its HIF-2a inhibitor, into a Phase 1/1b study in patients.
Arcus expects multiple Phase 1b and Phase 2 clinical readouts and advancement into the clinic of at least two new drug candidates in 2023.
Revenue by Segment
Forward Guidance
Arcus expects cash utilization for 2023 to be between $300 million and $350 million. Its cash, cash equivalents and marketable securities on-hand is expected to be sufficient to fund operations into 2026.
Positive Outlook
- Updated analysis of the ARC-7 study is expected to be presented at the ASCO Annual Meeting in June 2023.
- Data from the randomized cohort of ARC-6 are expected in 2023.
- Data from ARC-9 are expected in 2023.
- Arcus and Gilead expect PFS and OS data from all 90 patients in the ongoing Phase 1/1b ARC-8 trial in the first half of 2023.
- Initial data from ARC-20 are anticipated in late 2023 or early 2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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