Company: RCUS
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001724521-25-000101
Chunk: 257

Company: Arcus Biosciences, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 8
Chunk 257
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 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 income (loss) reported in the Condensed Consolidated Statements of Operations.The table below is a summary of the segment net income (loss), including significant segment expenses (in millions):Three Months Ended June 30,Six Months Ended June 30,2025202420252024Total revenues160 39 188 184 Less:Late-stage development programs (1)74 64 129 127 Early-stage development and preclinical programs (2)38 33 80 58 Compensation and personnel costs61 64 128 128 Depreciation and amortization2 2 5 5 Impairment of long-lived assets— — — 20 Interest income, net(8)(13)(18)(25)Income tax expense— — — — Other segment items (3)26 22 47 45 Partnership reimbursements(33)(40)(71)(77)Segment and Consolidated net income (loss)$— $(93)$(112)$(97)(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 June 30, 2025 and 2024 were $1.1 billion and $1.2 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