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Dec 31, 2023
Arcus Biosciences Q4 2023 Earnings Report
Reported fourth-quarter and full-year 2023 financial results and provided a pipeline update.
Key Takeaways
Arcus Biosciences reported revenues of $31 million and a net loss of $81 million for the fourth quarter of 2023. The company's cash, cash equivalents, and marketable securities totaled $866 million at the end of the year, which, combined with a recent equity investment, is expected to fund operations into 2027.
Arcus and Gilead announced an additional equity investment of $320 million into Arcus and modifications to their domvanalimab + zimberelimab clinical program.
PK, PD, safety and early efficacy data from ARC-20 support potential for casdatifan (AB521) to result in greater HIF-2a inhibition.
Multiple datasets expected to be presented in the first half of 2024 including EDGE-Gastric for domvanalimab + zimberelimab + chemotherapy at ASCO and two randomized datasets for etrumadenant.
Arcus has $1.2 billion in pro forma cash, cash equivalents and marketable securities and funding into 2027 to support Phase 3 trials for 3 different molecules and launch preparations.
Revenue by Segment
Forward Guidance
Arcus expects to have between $870 and $920 million in cash, cash equivalents and marketable securities at the end of 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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