Company: RCUS
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0001724521-25-000116
Chunk: 254

Company: Arcus Biosciences, Inc.
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 8
Chunk 254
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 securities5 — — 5 Certificate of deposit24 — — 24 Total cash, cash equivalents and marketable securities$992 $— $— $992 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 MaturitySeptember 30, 2025December 31, 2024Cash and cash equivalents—$238 $150 Marketable securitiesWithin one year593 828 Long-term marketable securitiesBetween one and three years10 14 Total cash, cash equivalents and marketable securities $841 $992 Realized gains or losses recognized on the sale of available-for-sale marketable securities were not material for the three and nine months ended September 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.

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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 21 and 54 positions in securities which were in unrealized loss positions as of September 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 September 30,20252024Cash and cash equivalents$238 $201 Restricted cash (included in Other noncurrent assets)3 3 Total cash, cash equivalents and restricted cash$241 $204 Restricted cash at September 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):September 30, 202