Company: RCUS
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001724521-25-000101
Chunk: 252

Company: Arcus Biosciences, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 252
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 cash, cash equivalents and marketable securities$992 $— $— $992 

15

The following table summarizes the fair values of our cash, cash equivalents and marketable securities by location in the Condensed Consolidated Balance Sheets and contractual maturity (in millions):Location in Condensed Consolidated Balance SheetsContractual MaturityJune 30, 2025December 31, 2024Cash and cash equivalents—$248 $150 Marketable securitiesWithin one year663 828 Long-term marketable securitiesBetween one and three years16 14 Total cash, cash equivalents and marketable securities $927 $992 Realized gains or losses recognized on the sale of available-for-sale marketable securities were not material for the three and six months ended June 30, 2025 and 2024 and are included in Interest and other income, net, in the Condensed Consolidated Statements of Operations. The cost of a security sold is determined using the specific-identification method.We limit the credit risk associated with our investments by placing them with banks and institutions we believe are highly credit worthy and investing in highly rated investments. We held a total of 79 and 54 positions in securities which were in unrealized loss positions as of June 30, 2025 and December 31, 2024, respectively, which were immaterial individually and in aggregate. We do not intend to sell our securities with unrealized loss positions and have concluded we will not be required to sell the securities before recovery of the amortized cost for the investment at maturity. No credit related losses have been recognized for any of the periods presented.The following table provides a reconciliation of cash, cash equivalents, and restricted cash within the Condensed Consolidated Balance Sheets to the total shown in the Condensed Consolidated Statements of Cash Flows (in millions):As of June 30,20252024Cash and cash equivalents$248 $156 Restricted cash (included in Other noncurrent assets)3 3 Total cash, cash equivalents and restricted cash$251 $159 Restricted cash at June 30, 2025 and 2024 represents cash balances held as security in connection with our facility lease agreements.

Note 10. Condensed consolidated balance sheet components

Prepaid Expenses and Other Current AssetsPrepaid expenses and other current assets consisted of the following (in millions):June 30, 2025December 31, 2024Prepaid expenses and other assets$15 $13 Acc