Company: RCUS
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001724521-25-000101
Chunk: 216

Company: Arcus Biosciences, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 216
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. We held a total of 79 and 54 positions in securities which were in unrealized loss positions as of June 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 June 30,20252024Cash and cash equivalents$248 $156 Restricted cash (included in Other noncurrent assets)3 3 Total cash, cash equivalents and restricted cash$251 $159 Restricted cash at June 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):June 30, 2025December 31, 2024Prepaid expenses and other assets$15 $13 Accrued interest receivable5 5 Total prepaid expenses and other current assets$20 $18 Other Current LiabilitiesOther current liabilities consisted of the following (in millions):June 30, 2025December 31, 2024Accrued research and development$61 $65 Accrued personnel expenses21 31 Current portion of lease liabilities12 12 Other16 15 Total other current liabilities$110 $123 

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Note 11. Long-term debt

The following table summarizes our borrowings (in millions):June 30, 2025December 31, 2024Long-term debt, non-current (Contractual maturity 2029)$100 $50 Unamortized discounts and issuance costs(3)(2)Total long-term debt$97 $48 On August 27, 2024, we and Hercules Capital, Inc. ("Hercules") entered into a loan and security agreement (the "Hercules Agreement"), under which Hercules agreed to lend us up to $250 million in term loans in various tranches subject to minimum draw