Company: RCUS
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001724521-25-000040
Chunk: 143

Company: Arcus Biosciences, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 7
Chunk 143
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 catch-up to revenue in the first quarter 2024 of $107 million as a result of the Third Gilead Collaboration Agreement Amendment based on the updated transaction price and measure of progress for the partially satisfied performance obligations; and Taiho's exercise of its option for the license of quemliclustat for the Taiho Territory of $15 million, which was recognized as revenue upon the delivery of the license in the third quarter of 2024.

The increase in Total revenues for 2023 as compared to 2022 was primarily driven by increased revenues from license and development services due to the progress in the research and development activities under our Taiho collaboration R&D services and our inflammation programs which commenced in 2023, partially offset by a decrease in revenue recognized for Taiho access rights which expired in 2022.

See Note 5, Revenues, in Part II, Item 8 for further discussion of the amount and timing of revenues recognized from our license and collaboration agreements.

65

Research and Development Expenses

We group all of our R&D activities and the related expenditures into categories as described below:

Included as of December 31, 2024CategoryDescriptionProgram-Level ExpensesKey ClinicalTrialsLate-stage development programsR&D expenses incurred related to a Phase 3 clinical program intended to result in registration of a new product. This includes all unallocated program-level expense not directly attributable to a specific clinical trial once a molecule enters into one or more Phase 3 clinical trials.domvanalimabzimberelimabquemliclustat**PACIFIC-8STAR-121STAR-221PRISM-1ARC-10*Early-stage R&D and preclinical programsR&D expenses incurred for activities ranging from early-stage R&D and preclinical to Phase 2 clinical trials. This includes all unallocated program-level expense not directly attributable to a specific clinical trial unless the related program has entered into one or more Phase 3 clinical trials.quemliclustat**etrumadenantcasdatifanAB598AB801ARC-7ARC-8ARC-9ARC-20ARC-25ARC-26*ARC-27EDGE-Lung EDGE-GastricSTELLAR-009*VELOCITY-LungVELOCITY-HNSCCCompensation and personnel costsInternal costs, such as salaries, non-cash stock-based compensation, and other personnel expenses for our R&D employees.——Other costsFacilities, depreciation, and other external costs that are not recorded at the investigational product level.——Partnership reimburse