Company: RCUS
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001724521-25-000063
Chunk: 209

Company: Arcus Biosciences, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 209
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. We recognize interest and penalties associated with uncertain tax benefits as part of the income tax provision. To date, we have not recognized any interest and penalties, nor have we accrued for or made payments for interest and penalties. We have not been audited by the Internal Revenue Service, any state or foreign tax authority. We are subject to taxation in the U.S. and in Australia. Due to NOLs and research credit carryforwards, all of our tax years, from 2015 to 2024, remain open to U.S. federal and California state tax examinations. In addition, our fiscal years from 2020 to 2024 are open to examination in Australia.

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Note 7. Net loss per share

The following table summarizes potentially dilutive securities excluded from the computation of diluted net loss per share calculations because they would have been antidilutive (in millions):At March 31,20252024Common stock options issued and outstanding18.015.3Restricted stock units issued4.33.1Employee stock purchase plan shares0.30.3Total potential dilutive securities22.618.7We have also excluded the effect of Gilead’s right to purchase additional shares of our common stock from the calculation as these rights had no intrinsic value at either March 31, 2025 or 2024.

Note 8. Stock-based compensation 

Stock-based Compensation ExpenseThe following table reflects the components of stock-based compensation expense recognized in our Condensed Consolidated Statements of Operations (in millions):Three Months Ended March 31,20252024Research and development$8 $10 General and administrative8 10 Total stock-based compensation$16 $20 

Note 9. Cash, cash equivalents and marketable securities 

The following table summarizes the amortized cost, gross unrealized gains and losses and the fair value of our cash, cash equivalents and marketable securities, all of which are considered available for sale, by type of securities (in millions): Types of securities as of March 31, 2025AmortizedCostUnrealizedGainUnrealizedLoss FairValueMoney market funds$149 $— $— $149 U.S. treasury securities231 — — 231 Corporate securities and commercial paper586 — — 586 U.S. government agency securities5 — — 5 Certificate of deposit34 — — 34 Total cash, cash equivalents and marketable securities$1,005