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Arcus Biosciences — Third Quarter 2026 Earnings Summary

  • Q3 2026 revenue declined to $9 million from $26 million in Q3 2025 due to winding down Gilead activities, partially offset by Taiho growth; net loss narrowed to $128 million from $135 million, while R&D and G&A expenses decreased to $117 million and $23 million respectively.
  • Full-year 2026 GAAP revenue guidance is set at $70–$75 million, with cash and marketable securities totaling $694 million as of September 30, 2026, and an October equity financing adding $288 million to fund operations into 2029.
  • Clinical progress includes PEAK-1 enrollment completion expected within 2–3 months, PEAK-20 initiation by year-end 2026, and an interim PRISM-1 analysis scheduled for Q4 2026, supported by robust efficacy data for casdatifan across multiple ccRCC lines.
  • Strategic shifts involve reducing R&D expenses by winding down domvanalimab studies while increasing investment in casdatifan and immunology programs, which are on track to enter the clinic in 2027.
Company
ARCUS BIOSCIENCES INC
Sector
Healthcare
Industry
Biotechnology