Company: RCUS
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001724521-25-000101
Chunk: 195

Company: Arcus Biosciences, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 195
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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 EndedJune 30,Six Months EndedJune 30,2025202420252024Revenues:License and development services revenue (Includes $152, $25, $172 and $156 from a related party)$152 $28 $172 $163 Other collaboration revenue (Includes $8, $11, $16 and $21 from a related party)8 11 16 21 Total revenues160 39 188 184  Operating expenses:Research and development (Includes $11, ($14), $6 and ($30) from a related party)139 115 261 224 General and administrative (Includes $2, $—, $2, and $— from a related party)29 30 57 62 Impairment of long-lived assets (see Note 12, Leases)— — — 20 Total operating expenses168 145 318 306  Loss from operations(8)(106)(130)(122) Non-operating income (expense):Interest and other income, net10 13 21 26 Interest expense(2)— (3)(1)Total non-operating income, net8 13 18 25  Income (loss) before income taxes— (93)(112)(97) Income tax expense— — — —  Net income (loss)$— $(93)$(112)$(97) Net income (loss) per share:Basic$— $(1.02)$(1.09)$(1.09)Diluted$— $(1.02)$(1.09)$(1.09)Shares used to compute net income (loss) per share:Basic106.1 91.1 102.3 88.6Diluted106.5 91.1 102.3 88.6

See accompanying notes.

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ARCUS BIOSCIENCES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(In millions)

(unaudited)

Three Months EndedJune 30,Six Months EndedJune 30,2025202420252024Net income (loss)$— $(93)$(112