Company: RCUS
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0001724521-25-000116
Chunk: 269

Company: Arcus Biosciences, Inc.
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 8
Chunk 269
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 non-cash stock-based compensation, partially offset by an increase in expenses shared under the Gilead Collaboration.

The decrease in G&A expenses for the nine months ended September 30, 2025 was primarily driven by a decrease in compensation and personnel costs driven by a $8 million decrease in non-cash stock-based compensation, partially offset by an increase in expenses shared under the Gilead Collaboration.

Impairment of Long-Lived Assets

The impairment expense for the nine months ended September 30, 2024 was due to our 2024 evaluation and sublease of a portion of our office space, resulting in an impairment charge of $20 million.

Non-Operating Income, net

The decrease in Non-operating income, net for the three months ended September 30, 2025 as compared to the three months ended September 30, 2024, was primarily due to lower investment yields due to a smaller portfolio of investments and interest expense on our long-term debt agreement which we entered into in the third quarter 2024, with an additional draw in June 2025.

The decrease in Non-operating income, net for the nine months ended September 30, 2025 as compared to the nine months ended September 30, 2024, was primarily due to lower yields due to a smaller portfolio of investments and the interest expense on our long-term debt agreement which we entered into in the third quarter 2024, with an additional draw in June 2025.

Income Tax Expense

There was no Income tax expense for the three and nine months ended September 30, 2025 or 2024 due to forecasted full year net operating losses.

Liquidity and Capital Resources 

Our cash and investments are held in a variety of interest-bearing instruments, including money market funds, U.S. government treasury and agency obligations, investments in corporate securities and certificates of deposit. Based on our existing business plan, we believe that our cash, cash equivalents, marketable securities and existing facilities as of 

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September 30, 2025 will be sufficient to fund our planned level of operations for a period of at least twelve months following the date of filing of this report and provide funding through our initial pivotal read-outs for domvanalimab, quemliclustat and casdatifan, which include PEAK-1.

Sources of Liquidity

To date, we have financed our operations primarily from the sale of our equity securities, upfront or milestone payments from our research, collaboration and license