Company: RCUS
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001724521-25-000063
Chunk: 250

Company: Arcus Biosciences, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 8
Chunk 250
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 our business as one reportable and operating segment, which is the business of developing and commercializing highly differentiated therapies that have a meaningful impact on patients. Our chief operating decision maker ("CODM") is the Chief Executive Officer, who decides how to allocate resources and assesses segment performance based on net loss reported on the Condensed Consolidated Statements of Operations.The table below is a summary of the segment net loss, including significant segment expenses (in millions):Three Months Ended March 31,20252024Total revenues28 145 Less:Late-stage development programs (1)55 63 Early-stage development and preclinical programs (2)42 25 Compensation and personnel costs66 64 Depreciation and amortization3 3 Impairment of long-lived assets— 20 Interest income, net(10)(12)Income tax expense— — Other segment items (3)22 23 Partnership reimbursements(38)(37)Segment net loss and Consolidated net loss$(112)$(4)(1) R&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.(2) R&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..(3) Other segment items includes non-allocated program costs and other G&A costs.Total segment assets at March 31, 2025 and 2024 were $1.2 billion and $1.3 billion, respectively.

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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

You should read the following discussion and analysis of our financial condition and results of operations together with our unaudited Condensed Consolidated Financial Statements and related notes in Part I, Item 1 of this Quarterly Report on Form 10-Q and with our audited Consolidated Financial Statements and related notes thereto for the year ended December 31, 2024, included in our Annual Report on Form 10-K filed with the SEC on February 25, 2025. 

Forward Looking Statements and Website Information

The discussion contained herein and other parts of this report contain forward-looking statements that involve risk and uncertainties,