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Arcus Biosciences, Inc., a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. The company's development product portfolio includes Casdatifan, a HIF-2a inhibitor for the treatment of kidney cancer; Domvanalimab, an anti-TIGIT antibody, which is in Phase 2 and Phase 3 clinical trial for lung and gastrointestinal cancers; and Zimberelimab, an anti-PD-1 antibody. It also develops Quemliclustat, a small molecule inhibitor that targets the CD73 enzyme in the ATP-adenosine pathway, which is in phase 3 and phase 1/1b clinical trial for lung and pancreatic cancer. In addition, the company develops AB598, a CD39 antibody, which is in phase 1/1b clinical study for gastrointestinal cancer and AB801, an AXL inhibitor, which is in Phase 1b clinical trial for lung cancer. It has clinical collaboration with AstraZeneca for the Phase 3 PACIFIC-8 trial evaluating domvanalimab and durvalumab in Stage 3 NSCLC and for a Phase 1/1b study evaluating casdatifan and volrustomig in IO-naive patients with ccRCC and BVF Partners L.P. to support the discovery and development of compounds for the treatment of inflammatory diseases. Arcus Biosciences, Inc. was incorporated in 2015 and is based in Hayward, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $247M | $-335M | $-353M | $-484M | -55.9% | -4.3% | 24.7% |
| 2024 | $258M | $-268M | $-283M | $-176M | -58.4% | 120.5% | -7.8% |
| 2023 | $117M | $-291M | $-307M | $-330M | -66.5% | 4.5% | 15.0% |
| 2022 | $112M | $-258M | $-267M | $432M | -40.6% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 112 | 117 | 258 | 247 |
| Operating Revenue | - | 112 | 117 | 258 | 247 |
| Operating Expense | - | 392 | 457 | 568 | 633 |
| Research And Development | - | 288 | 340 | 448 | 523 |
| Selling General And Administration | - | 104 | 117 | 120 | 110 |
| Total Expenses | - | 392 | 457 | 568 | 633 |
| Operating Income | - | -280 | -340 | -310 | -386 |
| Total Operating Income As Reported | - | -280 | -340 | -330 | -386 |
| EBITDA | - | -258 | -291 | -268 | -335 |
| Normalized EBITDA | - | -258 | -291 | -248 | -335 |
| EBIT | - | -264 | -299 | -278 | -345 |
| Interest Income | - | 16 | 41 | 52 | 41 |
| Interest Expense | - | 2 | 2 | 4 | 8 |
| Net Interest Income | - | 14 | 39 | 48 | 33 |
| Other Income Expense | - | - | - | -20 | - |
| Interest Income Non Operating | - | 16 | 41 | 52 | 41 |
| Interest Expense Non Operating | - | 2 | 2 | 4 | 8 |
| Net Non Operating Interest Income Expense | - | 14 | 39 | 48 | 33 |
| Pretax Income | - | -266 | -301 | -282 | -353 |
| Tax Provision | - | 1 | 6 | 1 | 0 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | -4.20 | 0 |
| Net Income Continuous Operations | - | -267 | -307 | -283 | -353 |
| Net Income From Continuing And Discontinued Operation | - | -267 | -307 | -283 | -353 |
| Net Income From Continuing Operation Net Minority Interest | - | -267 | -307 | -283 | -353 |
| Net Income | - | -267 | -307 | -283 | -353 |
| Net Income Common Stockholders | - | -267 | -307 | -283 | -353 |
| Net Income Including Noncontrolling Interests | - | -267 | -307 | -283 | -353 |
| Normalized Income | - | -267 | -307 | -267.20 | -353 |
| Diluted NI Availto Com Stockholders | - | -267 | -307 | -283 | -353 |
| Basic Average Shares | 69.35 | 72 | 74 | 90.10 | - |
| Diluted Average Shares | 73.97 | 72 | 74 | 90.10 | - |
| Reconciled Depreciation | - | 6 | 8 | 10 | 10 |
| Total Unusual Items | - | 0 | 0 | -20 | 0 |
| Total Unusual Items Excluding Goodwill | - | 0 | 0 | -20 | 0 |
| Special Income Charges | - | 0 | 0 | -20 | 0 |
| Gain On Sale Of Business | 0 | - | - | - | - |
| Impairment Of Capital Assets | - | 0 | 0 | 20 | 0 |
| General And Administrative Expense | - | 104 | 117 | 120 | 110 |
| Other Gand A | - | 104 | 117 | 120 | 110 |
| Earnings From Equity Interest | 0 | - | - | - | - |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Arcus Biosciences, Inc.this co. | RCUS | $3.1B | -8.80 | 4.92 | -55.9% | -8.94 |
| ACADIA Pharmaceuticals Inc. | ACAD | $3.7B | 9.51 | 3.03 | 31.9% | 30.83 |
| Organon & Co. | OGN | $3.5B | 18.82 | 4.68 | 24.9% | 8.98 |
| ICU Medical, Inc. | ICUI | $3.4B | 4607.08 | 1.59 | 0.0% | 14.73 |
| Concentra Group Holdings Parent, Inc. | CON | $3.2B |
| - |
| - |
| - |
| - |
| - |
| - |
| 19.16 |
| 8.11 |
| 42.3% |
| 12.74 |
| Integer Holdings Corporation | ITGR | $3.1B | 30.63 | 1.80 | 5.9% | 15.20 |
| National HealthCare Corporation | NHC | $2.9B | 24.47 | 2.75 | 11.2% | 13.71 |
| Privia Health Group, Inc. | PRVA | $2.7B | 117.50 | 3.65 | 3.1% | 50.35 |
| Supernus Pharmaceuticals, Inc. | SUPN | $2.6B | -67.30 | 2.44 | -3.6% | 58.94 |
| Peer Median | - | 21.82 | 2.89 | 8.6% | 14.97 | |