Company: RCUS
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001724521-25-000063
Chunk: 201

Company: Arcus Biosciences, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 201
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 on net sales of the licensed products and (iii) fees related to any sublicenses.For the three months ended March 31, 2025 and 2024, we did not have any milestones or royalties due under this arrangement.WuXi Biologics License - anti-CD39In 2020, we entered into an agreement with WuXi Biologics, under which we obtained the exclusive worldwide license to develop and commercialize anti-CD39 antibodies discovered under this arrangement. As of March 31, 2025, we may incur additional clinical and regulatory milestone payments of up to $14 million and royalty payments in the low single digits on net sales of the licensed products under this agreement. For the three months ended March 31, 2025 and 2024, we did not have any milestones or royalties due under this arrangement. Abmuno LicenseIn 2016, we entered into an agreement (the "Abmuno Agreement") with Abmuno Therapeutics LLC ("Abmuno"), under which we obtained the exclusive worldwide license to develop, use, manufacture, and commercialize products that include an anti-TIGIT antibody, including domvanalimab. Under this agreement, as of March 31, 2025 we may incur additional clinical, regulatory and commercialization milestone payments of up to $88 million.

10

For the three months ended March 31, 2025 and 2024, we did not have any milestones due under this arrangement.

Note 5. Revenues 

The following table summarizes our revenues by collaboration, category of revenue, and the method of recognition (in millions):Three Months Ended March 31,Over timePoint in time20252024Gilead collaboration    License and R&D services* $20 $131 R&D services*2 2 Access rights* 6 8 Taiho collaboration    Other*— 4 Total revenues  $28 $145 Total revenues from collaborations$20 $135 Total revenues from a customer$8 $10 Revenues from Gilead accounted for 100% and 97% of Total revenues for the three months ended March 31, 2025 and 2024, respectively.The following table summarizes the revenue recognized as a result of changes in the deferred revenue balance (in millions):Three Months Ended March 31,20252024Revenue recognized from amounts in deferred revenue at the beginning of the period$28 $142 We had