Company: RCUS
Filing Date: 2025-02-18
Form Type: 424B5
Source: 0001193125-25-028669
Chunk: 5

Company: Arcus Biosciences, Inc.
Filing Date: 2025-02-18
Form: 424B5
Chunk 5
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 to completion of our financial closing procedures, including the completion of management’s reviews. Accordingly, the unaudited preliminary cash, cash equivalents and marketable securities balance set forth above reflects our preliminary estimate with respect to such information, based on information currently available to management, and may vary from our actual financial position as of December 31, 2024. Further, this preliminary estimate is not a comprehensive statement or estimate of our financial results or financial condition as of December 31, 2024. The unaudited preliminary cash, cash equivalents and marketable securities balance included in this prospectus supplement has been prepared by, and is the responsibility of, Arcus Biosciences, Inc.’s management. Ernst & Young LLP has not audited, reviewed, examined, compiled, nor applied agreed-upon procedures with respect to the preliminary financial data. Accordingly, Ernst & Young LLP does not express an opinion or any other form of assurance with respect thereto. It is possible that we may identify items that require us to make adjustments to the financial information set forth above. This preliminary estimate should not be viewed as a substitute for financial statements prepared in accordance with generally accepted accounting principles in the United States and it is not necessarily indicative of the balance to be achieved in any future period. Additional information and disclosure would be required for a more complete understanding of our financial position and results of operations as of December 31, 2024. Accordingly, you should not place undue reliance on this preliminary estimate. This preliminary estimate should be read together with the sections titled “Risk Factors” and “Special Note Regarding Forward-Looking Statements,” and under similar headings included in this prospectus supplement, the accompanying prospectus and in the documents incorporated by reference into this prospectus supplement and in the accompanying prospectus as well as our financial statements, related notes and other financial information incorporated by reference in this prospectus supplement and in the accompanying prospectus. Risks Associated with our Business Our business is subject to numerous risks. You should read these risks before you invest in our common stock. In particular, our risks include, but are not limited to, the following:

| • |     | We have a history of operating losses, have never generated any revenue from product sales and anticipate that we 
 will continue to incur significant losses for the foreseeable future.                                             |

| • |     | We may need to obtain additional funding. If we do not receive or are unable to raise additional capital when       
 needed, we may be forced to restrict our operations or delay, reduce or eliminate