NYSE$RCUS
Arcus Biosciences Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Arcus Biosciences' financial position was strengthened by strategic pipeline advancements.
Arcus Biosciences reported $32 million in revenues for Q3 2023, with a net loss of $71 million. The company's cash reserves are expected to fund operations into 2026, supporting ongoing clinical trials and research programs.
- Presented data from the EDGE-Gastric Phase 2 study in first-line upper GI cancers at ASCO, highlighting domvanalimab's potential.
- Shared encouraging objective response rates (ORR) of 80% (confirmed ORR (cORR) of 73%) in patients with PD-L1-high tumors (TAP ≥5%), 46% (all confirmed) in patients with PD-L1-low tumors (TAP <5%) and 59% (cORR of 56%) for patients overall.
- Reported pharmacokinetic and pharmacodynamic data from the ARC-20 Phase 1b study of AB521, showing consistency with healthy volunteer results.
- Anticipates presenting efficacy and safety data from the ARC-8 study of quemliclustat in advanced pancreatic cancer in early 2024.
Headline financials
Revenue & EPS history
Arcus Biosciences · Revenue · Quarterly
$32M
Revenue by segment
Arcus Biosciences · $10M total across 1 segment · Q3 2023
- Other collaboration$10M+1.6%100.0%
Forward guidance
Arcus Biosciences is focused on advancing its clinical trials and research programs, with several data readouts expected in the near term.
Tailwinds
- Cash reserves are expected to fund operations into 2026.
- Advancing Phase 3 trials for domvanalimab in lung and GI cancers.
- AB521 continues to show a potentially improved clinical profile.
- Planning to share mature OS data from the Phase 1/1b study of quemliclustat in pancreatic cancer.
- Initiated a Phase 1 study in healthy volunteers of AB801.
Headwinds
- Net Loss was $71 million for the third quarter 2023, compared to $65 million for the same period in 2022.
- Research and Development (R&D) Expenses were $82 million for the third quarter 2023, compared to $77 million for the same period in 2022.
- General and Administrative (G&A) Expenses were $30 million for the third quarter 2023, compared to $26 million for the same period in 2022.
- The company's cash, cash equivalents and marketable securities decreased from $1.1 billion as of December 31, 2022, to $950 million as of September 30, 2023.
- The decrease during the period is primarily due to the use of cash in research and development activities.
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 2023
+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 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro