Company: RCUS
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001724521-25-000063
Chunk: 189

Company: Arcus Biosciences, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 189
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Item 1. Financial Statements

ARCUS BIOSCIENCES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In millions, except per share amounts)

(unaudited)

Three Months EndedMarch 31,20252024Revenues:License and development services revenue (Includes $20 and $131 from a related party)$20 $135 Other collaboration revenue (Includes $8 and $10 from a related party)8 10 Total revenues28 145  Operating expenses:Research and development (Includes $5 and $16 of net recoveries from a related party)122 109 General and administrative28 32 Impairment of long-lived assets (see Note 12, Leases)— 20 Total operating expenses150 161  Loss from operations(122)(16) Non-operating income (expense):Interest and other income, net11 13 Interest expense(1)(1)Total non-operating income, net10 12  Loss before income taxes(112)(4) Income tax expense— —  Net loss$(112)$(4) Net loss per share:Basic and diluted$(1.14)$(0.05)Shares used to compute net loss per share:Basic and diluted98.4 86.2

See accompanying notes.

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ARCUS BIOSCIENCES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

(In millions)

(unaudited)

Three Months EndedMarch 31,20252024Net loss$(112)$(4)Other comprehensive loss— (1)Comprehensive loss$(112)$(5)

See accompanying notes.

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ARCUS BIOSCIENCES, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In millions, except per share amounts)

(unaudited)

March 31,2025December 31,2024ASSETS Current assets:Cash and cash equivalents$192 $150 Marketable securities805 828 Receivable from collaboration partners ($4 and $6 from a related party)15 20 Prepaid expenses and other current assets19 18 Total current assets1,031 1,016  Long-term marketable securities8 14 Property and equipment, net46 47 Other noncurrent assets 71 73 Total assets$1,156 $1,150  LIABILITIES AND STOCKHOLDERS