| Metric | Value ($ M) | vs Q1 FY26 |
|---|---|---|
| Revenue | 33.00 | 371.4% |
| Total Income | 33.00 | 371.4% |
| Expenditure | 129.00 | 8.5% |
| PBT | -91.00 | 28.9% |
| Net Profit | -91.00 | 28.9% |
| OPM | — | |
| NPM | — | |
| EPS | -0.72 | 29.4% |
Arcus Biosciences Reports Q2 2026 Financial Results and Pipeline Update
06 Aug 2026 · 6 Aug, 1:47 am
Summary
Arcus Biosciences reported second-quarter 2026 revenues of $41 million, a decrease from $160 million in the prior year, attributed to a significant license and development services revenue catch-up in Q2 2025. The company experienced a net loss of $91 million for the quarter, compared to a net loss of $0 million in Q2 2025, with research and development expenses decreasing to $113 million due to program wind-downs. Arcus Biosciences ended the quarter with $775 million in cash and expects this to sustain operations until at least the second half of 2028, while also anticipating a $15 million milestone payment from Taiho Pharmaceutical.
Key Highlights
- 1
Arcus Biosciences reported revenues of $41 million for the second quarter of 2026, a decrease from $160 million in the same period of 2025, primarily due to a cumulative catch-up from license and development services revenue in the prior year.
- 2
The company expects to recognize GAAP revenue between $65 million and $75 million for the full year 2026.
- 3
Research and Development expenses were $113 million for the second quarter of 2026, down from $139 million in the prior year, largely due to the wind-down of the domvanalimab program.
- 4
General and Administrative expenses decreased to $24 million in the second quarter of 2026 from $29 million in the second quarter of 2025.
- 5
Arcus Biosciences reported a net loss of $91 million for the second quarter of 2026, compared to a net loss of $0 million for the same period in 2025.
- 6
Cash, cash equivalents, and marketable securities stood at $775 million as of June 30, 2026, with the company expecting its cash to fund operations until at least the second half of 2028.
- 7
Arcus Biosciences will receive a $15 million milestone payment from Taiho Pharmaceutical in the third quarter.
Management Comments
Terry Rosen
Our recent publication in Nature demonstrated our commitment to being the scientific leader in HIF-2α biology and translational medicine. We are leveraging these insights and the differentiated profile of casdatifan compared to that of the competition to ensure that casdatifan becomes the backbone of treatment across every line of therapy in kidney cancer. In the front-line setting especially, we see a clear path to be first-to-market and to provide the best options for physicians and patients. The ARC-20 platform study and strategic clinical collaborations are enabling us to efficiently pursue an integrated approach across multiple lines of therapy, and we expect this year’s upcoming ARC-20 data readouts in first-, second- and late-line settings to clarify casdatifan’s potential to transform the treatment paradigm for kidney cancer.
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