Every material Form 8-K Arcus Biosciences has filed with the SEC since August 08, 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Arcus Biosciences reported third-quarter 2026 results on November 4, 2026. Quarterly revenue fell to $9 million from $26 million, while the net loss narrowed to $128 million from $135 million, and the company said cash runway extends into 2029 after an October equity financing.
Q3 2026 net loss was $128 million, or $1.00 per share, versus $135 million, or $1.27 per share, in Q3 2025.
Q3 2026 revenue was $9 million versus $26 million a year earlier; the company expects full-year 2026 GAAP revenue of $70 million to $75 million.
Cash, cash equivalents and marketable securities were $694 million at September 30, 2026, plus $288 million gross proceeds from an October equity financing.
Enrollment in the PEAK-1 Phase 3 study is expected to complete in the next two to three months; PEAK-20 is expected to begin in the fourth quarter of 2026.
Arcus Biosciences sold 16,428,572 shares of common stock at a public offering price of $17.50 per share, including the full exercise of the underwriters' option, and the offering closed on October 23, 2026. The company received net proceeds of approximately $269.7 million after underwriting discounts, commissions and estimated offering expenses. Shareholders face a larger share count, and the filing does not describe how the proceeds will be used.
Public offering price of $17.50 per share; underwriters agreed to buy the shares from the company at $16.45 per share.
Total of 16,428,572 shares issued, including 2,142,857 shares from the underwriters' option exercised in full.
Offering closed October 23, 2026, with net proceeds of approximately $269.7 million.
Underwriters were Jefferies LLC, Leerink Partners LLC and TD Securities (USA) LLC, under Form S-3 Registration No. 333-293750.
Arcus Biosciences disclosed a preliminary estimate of about $694.0 million in cash, cash equivalents and marketable securities as of September 30, 2026. The figure is unaudited, subject to financial closing procedures, and Ernst & Young has not reviewed it, so it may change. The filing contains no revenue, profit or guidance figures, so it gives shareholders a liquidity snapshot rather than full results.
Preliminary cash, cash equivalents and marketable securities: approximately $694.0 million as of September 30, 2026
Figure is unaudited and subject to completion of financial closing procedures and management review
Ernst & Young LLP has not audited or reviewed the preliminary data
Filing does not include revenue, net income, EPS or guidance
Arcus Biosciences presented new data from its ARC-20 platform study of casdatifan, alone or in combination, for clear cell renal cell carcinoma, using a data cutoff of September 4, 2026. The filing reports response, progression and survival figures across first-line, second-line and late-line cohorts, with no unexpected safety signals cited for each regimen.
Second-line casdatifan plus cabozantinib (n=43): median PFS 14.5 months, 18-month landmark overall survival 77%, cORR 44%
First-line casdatifan plus zimberelimab (n=30): cORR 50%, landmark PFS 69% at 12 months, primary progression 6.7%
Late-line casdatifan monotherapy (n=121): median overall survival 35 months, median PFS 13 months, cORR 36%
Arcus Biosciences reported second-quarter 2026 revenue of $41 million, down from $160 million a year earlier, and a net loss of $91 million, compared with break-even results in the same period of 2025. The company expects GAAP revenue of $65 million to $75 million for full-year 2026 and ended the quarter with $775 million in cash, cash equivalents and marketable securities.
Q2 2026 revenue was $41 million versus $160 million in Q2 2025, mainly because 2025 included a $143 million catch-up from license and development services revenue tied to etrumadenant.
Q2 2026 net loss was $91 million, or $0.72 per share; six-month net loss was $219 million, or $1.74 per share.
Full-year 2026 GAAP revenue is expected at $65 million to $75 million, and year-end 2026 cash is expected to be about $600 million.
Gilead relinquished its three Board of Directors seats effective August 5, 2026, following the wind-down of Phase 3 anti-TIGIT studies.
Arcus Biosciences reported first-quarter 2026 results, with revenue of $17 million, down from $28 million a year earlier, and a net loss of $128 million, up from $112 million. Net loss per share was $1.02, compared with $1.14, on a higher share count of 125.4 million versus 98.4 million. Cash, cash equivalents and marketable securities fell to $876 million, and the company expects to end 2026 with about $600 million.
Revenue was $17 million for Q1 2026, versus $28 million in Q1 2025, mainly from lower development services revenue from the Gilead collaboration.
Net loss was $128 million, versus $112 million; basic and diluted loss per share was $1.02, versus $1.14.
Cash, cash equivalents and marketable securities were $876 million at March 31, 2026, versus $1.0 billion at December 31, 2025.
Arcus expects full-year 2026 GAAP revenue of $50 million to $65 million and cash runway until at least the second half of 2028.
Arcus Biosciences said Chief Operating Officer Jennifer Jarrett decided to resign, effective March 30, 2026, and that the resignation is not due to any disagreement with the company on operations, policies or practices. Under a separation agreement, she will provide periodic advisory services through June 30, 2026, and the company extended her post-termination option exercise period to twelve months.
Jennifer Jarrett resigns as Chief Operating Officer, effective March 30, 2026; notice given March 17, 2026
Resignation is stated to be unrelated to any disagreement with the company
Jarrett will provide advisory services through June 30, 2026; vested options exercisable for twelve months after termination
Full separation agreement to be filed with the next Form 10-Q
Arcus Biosciences reported fourth-quarter and full-year 2025 results on February 25, 2026. Revenue declined and the net loss widened for both periods, and the company gave 2026 GAAP revenue guidance of $45 million to $55 million. Arcus and Gilead are winding down the Phase 3 STAR-221 and Phase 2 EDGE-Gastric studies, and the company expects R&D expenses to decrease meaningfully in 2026.
Full-year 2025 revenue was $247 million, down from $258 million in 2024; net loss was $353 million, or $3.29 per share, versus $283 million, or $3.14 per share in 2024
Fourth-quarter 2025 revenue was $33 million, down from $36 million; net loss was $106 million, compared with $94 million a year earlier
Company expects GAAP revenue of $45 million to $55 million for full-year 2026
Cash, cash equivalents and marketable securities were $1.0 billion at December 31, 2025, versus $992 million a year earlier, with funding expected until at least the second half of 2028
Arcus Biosciences entered into a First Amendment to its August 27, 2024 Loan and Security Agreement with Hercules Capital and the lenders, which governs the remaining $150.0 million of term loan commitments. The amendment ties the timing of future borrowing to set dates and to clinical and regulatory milestones, extends the maturity date to September 1, 2030, and adds performance covenants that apply if term loan advances exceed $200.0 million.
Maturity date extended to September 1, 2030, with no further extension right.
Remaining $150.0 million of term loan commitments: $25.0 million available through March 15, 2026, $25.0 million through September 15, 2026, and up to $50.0 million each after a Phase 3 Clinical Milestone and after FDA approval (Milestone I
Covenants apply if advances exceed $200.0 million, starting with quarterly statements three quarters after Milestone I: market capitalization of at least $1.5 billion plus Qualified Cash of at least 50.0% of secured obligations, or Qualifie
Arcus Biosciences reported third-quarter 2025 revenue of $26 million, down from $48 million a year earlier, and a net loss of $135 million, up from $92 million. Research and development spending rose to $141 million as late-stage trials expanded, and cash, cash equivalents and marketable securities were $841 million at September 30, 2025, down from $992 million at December 31, 2024. The company expects full-year 2025 GAAP revenue of $225 million to $235 million, and it said it has paused recruitment in the Phase 1b portion of the eVOLVE-RCC02 study.
Q3 2025 revenue was $26 million, compared with $48 million in Q3 2024, mainly due to a $15 million license payment in the prior year
Q3 2025 net loss was $135 million, compared with $92 million in Q3 2024
Cash, cash equivalents and marketable securities were $841 million at September 30, 2025, versus $992 million at December 31, 2024
Full-year 2025 GAAP revenue is expected to be between $225 million and $235 million
Arcus Biosciences reported second-quarter 2025 revenue of $160 million, up from $39 million a year earlier, and broke even on a net basis after a $93 million net loss in the same quarter of 2024. Most of the revenue increase came from a $143 million cumulative catch-up tied to pausing etrumadenant development and Gilead returning its license, so shareholders should weigh that one-time item against the six-month net loss, which widened to $112 million from $97 million.
Q2 2025 total revenue was $160 million versus $39 million in Q2 2024, including a $143 million cumulative catch-up tied to etrumadenant.
Q2 2025 net income was $0 versus a $93 million net loss in Q2 2024; the six-month net loss was $112 million versus $97 million.
Cash, cash equivalents and marketable securities were $927 million at June 30, 2025, compared with $992 million at December 31, 2024.
Arcus expects full-year 2025 GAAP revenue of $225 million to $235 million and expects R&D expenses to decline starting in Q4 2025.
Arcus Biosciences reported first-quarter 2025 revenue of $28 million, down from $145 million a year earlier, and a net loss of $112 million, compared with $4 million in the same period of 2024. The company said it expects GAAP revenue of $75 million to $90 million for full-year 2025, and it ended the quarter with $1.0 billion in cash, cash equivalents and marketable securities.
Revenue was $28 million versus $145 million a year earlier; license and development services revenue was $20 million versus $135 million.
Net loss was $112 million, or $1.14 per share, versus a net loss of $4 million, or $0.05 per share, in the first quarter of 2024.
R&D expenses rose to $122 million from $109 million, driven by early-stage and preclinical program activity.
Full-year 2025 GAAP revenue is expected to be between $75 million and $90 million.
Arcus Biosciences reported fourth-quarter and full-year 2024 results. Full-year revenue rose to $258 million from $117 million and the net loss narrowed to $283 million from $307 million, or $3.14 per share versus $4.15. The company ended the year with $992 million in cash, cash equivalents and marketable securities after completing a $150 million financing, though fourth-quarter net loss widened to $94 million from $81 million.
Full-year 2024 revenue was $258 million, compared with $117 million in 2023
Full-year net loss per share was $3.14, compared with $4.15 in 2023; full-year R&D expenses were $448 million, compared with $340 million
Fourth-quarter 2024 net loss was $94 million, compared with $81 million, on revenue of $36 million versus $31 million
Cash, cash equivalents and marketable securities were $992 million as of December 31, 2024, excluding proceeds from the $150 million financing
Gilead Sciences' time-limited exclusive option to casdatifan expired without exercise, so Gilead has no future rights to the program and Arcus retains full global development and commercial rights, subject to Taiho's option for Japan and certain other Asian countries (excluding China). Arcus also reported preliminary cash, cash equivalents and marketable securities of approximately $992 million as of December 31, 2024, which remains unaudited and subject to closing procedures.
Gilead's casdatifan option expired without exercise, as announced February 18, 2025; Gilead has no future rights to casdatifan.
Taiho Pharmaceutical's option right covers its territory, limited to Japan and certain other Asian countries (excluding China).
Preliminary cash, cash equivalents and marketable securities were approximately $992 million as of December 31, 2024, unaudited and may change.
ARC-20 data reported February 15, 2025 (data cut-off January 3, 2025): confirmed ORR of 33% (9) in the 100mg QD cohort of 27 patients.
Arcus Biosciences reported that Merdad Parsey resigned from its Board of Directors on February 6, 2025, in connection with his departure from Gilead Sciences. The Board the same day appointed Dietmar Berger, who joined Gilead in January 2025 as its Chief Medical Officer, as a Class II director to fill the vacancy; the filing says Gilead's board designee arrangement governs the timing of the change.
Merdad Parsey resigned from the Arcus Board, effective upon appointment of Gilead's new director designee under the Amended and Restated Investor Rights Agreement dated January 29, 2024.
Dietmar Berger was appointed as a Class II director on February 6, 2025.
Dr. Berger will receive no compensation for Board service; Arcus expects to enter its standard indemnification agreement with him.
Arcus Biosciences said Richard Markus, M.D., Ph.D. will become Chief Medical Officer effective January 31, 2025, and that Dimitry Nuyten, M.D., Ph.D. will leave the company on the same date. Nuyten entered into a separation agreement under the company's Severance Benefits Plan that includes a lump sum payment equal to 12 months of base salary, COBRA coverage for up to 12 months, and an additional cash payment tied to his 2024 annual bonus. The filing does not disclose the dollar amounts of these payments.
Richard Markus, M.D., Ph.D. appointed Chief Medical Officer, effective January 31, 2025
Dimitry Nuyten, M.D., Ph.D. departs January 31, 2025
Severance includes a lump sum equal to 12 months of base salary and COBRA coverage for up to 12 months
Additional cash payment tied to Nuyten's 2024 annual bonus; the final separation agreement will be filed after execution
Arcus Biosciences reported third-quarter 2024 revenue of $48 million, up from $32 million a year earlier, but its net loss widened to $92 million from $71 million as research and development spending rose to $123 million. The company said its $1.1 billion in cash, cash equivalents and marketable securities should fund operations into mid-2027, and it expects year-end 2024 cash of $950 million to $985 million.
Q3 2024 revenue was $48 million versus $32 million in Q3 2023; nine-month revenue was $232 million versus $86 million.
Q3 2024 net loss was $92 million, or $1.00 per share, compared with $71 million, or $0.94 per share, a year earlier.
R&D expenses were $123 million in Q3 2024 versus $82 million, driven by late-stage clinical trial and headcount costs.
Cash, cash equivalents and marketable securities were $1.1 billion at September 30, 2024, up from $866 million at December 31, 2023.
Arcus Biosciences entered a Loan and Security Agreement with Hercules Capital on August 27, 2024, providing a secured term loan facility of up to $250.0 million. Only $50.0 million was funded at closing, with the rest available under later tranches at the company's option or the lenders' option, and the loans are secured by substantially all company assets.
$50.0 million funded on August 27, 2024; up to $150.0 million more available at the company's option through March 15, 2026, and a further $100.0 million at the lenders' option
Interest at the greater of Prime Rate plus 1.95% or 10.45%; interest-only payments until September 1, 2028; maturity September 1, 2029
Financial covenant requires Qualified Cash of at least 50% of outstanding principal when market capitalization is at or below $1.20 billion, with reductions upon milestones
Arcus Biosciences reported second-quarter 2024 revenue of $39 million, up from $29 million a year earlier, while its net loss widened to $93 million from $75 million as research and development expenses rose to $115 million from $84 million. Cash, cash equivalents and marketable securities totaled $1.0 billion at June 30, 2024, and the company said that balance will fund operations into 2027.
Q2 2024 revenue was $39 million versus $29 million in Q2 2023; six-month revenue was $184 million versus $54 million.
Q2 net loss was $93 million versus $75 million; net loss per share was $1.02 versus $1.04.
R&D expenses were $115 million versus $84 million, driven by higher clinical trial and headcount-related costs for late-stage programs.
Cash and marketable securities were $1.0 billion at June 30, 2024, including $320 million received from Gilead for its January 2024 equity investment.
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