NYSE$RCUS
Arcus Biosciences Inc · Q1 2022 earnings
Q1 2022 earnings · · Investor relations
Briefing
Reported financial results for the first quarter and provided a pipeline update, including encouraging results from the third interim analysis of the ongoing Phase 2 ARC-7 study
Arcus Biosciences reported positive results from its ARC-7 study and has a strong cash position of $1.3 billion to fund operations into 2026. The company is advancing its pipeline with multiple Phase 3 trials planned.
- Both anti-TIGIT domvanalimab-containing arms in the ARC-7 study continued to show meaningful differentiation compared to the anti-PD1 antibody zimberelimab alone for first-line metastatic non-small cell lung cancer (NSCLC).
- Arcus and Gilead are expanding their late-stage clinical program for domvanalimab, aiming to establish a best-in-class PD-1 + TIGIT antibody backbone and triplet regimens.
- The third registrational Phase 3 study, STAR-121, will evaluate domvanalimab plus zimberelimab and chemotherapy versus pembrolizumab with chemotherapy in first-line NSCLC PD-L1 all-comers, expected to initiate in 4Q 2022.
- Arcus is well positioned to advance its programs with $1.3 billion in cash and cash equivalents, providing funding into 2026.
Headline financials
Revenue & EPS history
Arcus Biosciences · Revenue · Quarterly
$18M
Revenue by segment
Arcus Biosciences · $18M total across 1 segment · Q1 2022
- License and development$18M—100.0%
Forward guidance
Arcus Biosciences is focused on advancing its clinical programs and expects several milestones in the near term.
Tailwinds
- Enrollment for ARC-7 remains on track to complete mid-2022; data update expected in the second half of 2022
- Arcus and Gilead plan to initiate STAR-121 in 4Q 2022
- STAR-221, a pivotal Phase 3 study of a domvanalimab-based combination in upper gastrointestinal cancers, is currently in advanced stages of planning
- Arcus and Gilead expect to initiate two signal-finding Phase 2 studies to further evaluate multiple domvanalimab-combinations, including triplet combinations with etrumadenant and quemliclustat, by year-end
- A Phase 1/1b study to explore AB521 in clear-cell renal cell carcinoma, alone and in combination with other molecules, including those targeting the CD73-adenosine axis, is anticipated to be initiated in mid-2022
Headwinds
- The company's financial results indicate a net loss for the quarter.
- The development of new therapies is subject to inherent risks and uncertainties.
- Clinical trial initiations and data readouts are subject to potential delays.
- The company's dependence on collaborations, particularly with Gilead, poses risks.
- Changes in the competitive landscape could adversely affect Arcus's programs.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2022
+2.4%
Avg return
Earnings day
+3.6%
Avg return
5 days after
+6.7%
Avg return
30 days after
59%
19 / 32 earnings
Positive
+19.2%
Q4 2021
Best reaction
-7.9%
Q1 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.0% | -2.6% | -5.6% | |
| Q4 2025 | -4.0% | +10.7% | +0.0% | |
| Q3 2025 | -1.1% | +2.7% | +28.9% | |
| Q1 2025 | -1.2% | +8.4% | +22.8% | |
| Q4 2024 | -1.0% | -7.3% | -18.4% | |
| Q3 2024 | +7.7% | +16.1% | +13.1% | |
| Q2 2024 | +11.5% | +11.7% | +12.3% | |
| Q1 2024 | +3.8% | +10.6% | -0.4% | |
| Q4 2023 | +18.5% | +18.4% | -1.0% | |
| Q3 2023 | +2.8% | -13.0% | +0.4% | |
| Q2 2023 | -3.0% | -4.3% | +18.3% | |
| Q1 2023 | -5.2% | -6.9% | +9.0% | |
| Q4 2022 | -4.0% | +0.6% | -3.7% | |
| Q3 2022 | -2.2% | -7.9% | +43.2% | |
| Q2 2022 | +6.0% | +7.9% | -2.1% | |
| Q1 2022 | +11.9% | -9.7% | +10.1% | |
| Q4 2021 | +19.2% | +24.6% | +20.4% | |
| Q3 2021 | +11.4% | +9.1% | +26.5% | |
| Q2 2021 | -7.3% | -2.5% | +13.7% | |
| Q1 2021 | -7.9% | -11.7% | -23.4% | |
| Q4 2020 | +2.9% | +10.3% | -1.7% | |
| Q3 2020 | -7.1% | +3.8% | +33.1% | |
| Q2 2020 | +2.3% | +8.1% | -1.1% | |
| Q1 2020 | -0.7% | +11.4% | +11.3% | |
| Q4 2019 | +7.1% | -2.6% | -19.8% | |
| Q3 2019 | +1.6% | -6.3% | -3.2% | |
| Q2 2019 | +1.8% | +10.3% | +18.2% | |
| Q1 2019 | +4.9% | +9.1% | -15.5% | |
| Q4 2018 | -6.8% | +11.6% | -3.7% | |
| Q3 2018 | +8.9% | -1.1% | +8.0% | |
| Q2 2018 | +2.2% | +7.5% | +19.0% | |
| Q1 2018 | +2.9% | -1.1% | +6.9% | |
| Q4 2017 | — | — | — | |
| Q3 2017 | — | — | — | |
| Q2 2017 | — | — | — | |
| Q1 2017 | — | — | — |
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