Company: RCUS
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001724521-25-000063
Chunk: 221

Company: Arcus Biosciences, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 221
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%)Loss before income taxes(112)(4)*Income tax expense— — *Net loss$(112)$(4)*

*Not meaningful

Total Revenues

The decrease in Total revenues for the three months ended March 31, 2025 was primarily driven by the cumulative catch-up from license and development services revenue of $107 million in the prior year 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.

See Note 5, Revenues, to our Condensed Consolidated Financial Statements in Part I, Item 1 of this report for further discussion of the amount and timing of revenues recognized from our license and collaboration agreements.

25

Research and Development Expenses

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

CategoryDescriptionProgram 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 development and preclinical programsR&D expenses incurred for activities ranging from early-stage development 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 that are not allocated to specific programs or trials.——Other costsFacilities, depreciation, and other external costs that are not recorded at the investigational product level.——Partnership reimbursementsReimbursements from our collaboration partners for shared costs incurred by us and recognized as a reduction in R&D expense.——

*Study discontinued or completed

**  Quemliclustat moved from early-stage development and preclinical program to a late-stage