NYSE$RCUS
Arcus Biosciences Inc · Q3 2021 earnings
Q3 2021 earnings · · Investor relations
Briefing
Arcus Biosciences reported financial results for the third quarter ended September 30, 2021 and provided an update on the ARC-7 study of domvanalimab
Arcus Biosciences reported its Q3 2021 financial results, highlighting the initiation of Gilead's opt-in review process for their anti-TIGIT program and providing updates on their clinical studies, including ARC-7 and ARC-8. The company ended the quarter with $743.4 million in cash and investments, expecting it to fund operations through at least 2023.
- Both domvanalimab-containing arms demonstrated differentiated clinical activity compared to that of zimberelimab alone in a second interim analysis of ARC-7, a Phase 2 study in first-line metastatic non-small cell lung cancer (NSCLC).
- Gilead Sciences has initiated its opt-in review process for Arcus's anti-TIGIT program, with a decision expected before the end of 2021; if exercised, Arcus would receive a $275 million opt-in payment.
- Updated data from ARC-8, a Phase 1 study of quemliclustat, Arcus's small molecule anti-CD73 inhibitor for pancreatic cancer, is planned for fall 2021.
- Arcus ended the quarter with $743.4 million of cash and investments and funding through at least 2023.
Headline financials
Revenue & EPS history
Arcus Biosciences · Revenue · Quarterly
$9.46M
Revenue by segment
Arcus Biosciences · $9.5M total across 1 segment · Q3 2021
- License and development$9.5M-85.3%100.0%
Forward guidance
Arcus Biosciences anticipates several milestones in the near future across its clinical programs. Key expectations include full enrollment of ARC-7 by mid-2022 with data presentation later in the year, initiation of the PACIFIC-8 registrational Phase 3 study by the end of 2021, and an update on ARC-8 planned for this fall. The company is also planning additional Phase 3 studies of domvanalimab-based combinations and expects initial randomized data from ARC-4 in 1H22.
Tailwinds
- ARC-7 is expected to be fully enrolled by mid-2022, and a data presentation, including progression-free survival data, is anticipated later in 2022.
- AstraZeneca and Arcus remain on track to initiate the PACIFIC-8 registrational Phase 3 study by the end of 2021.
- Several additional clinical studies of domvanalimab-based combinations are planned, including two additional Phase 3 studies anticipated to start in mid-2022.
- An update on ARC-8, Arcus's Phase I study of quemliclustat, is planned for this fall.
- Initial randomized data from ARC-4 is expected to be presented in 1H22.
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 Q3 2021
+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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