Arcus Biosciences Q2 revenue falls to $41 million; net loss of $91 million
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.
Key points
- 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.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:49 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 05, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.