RCUS on NYSE
Arcus Biosciences
Biopharmaceutical company based in Hayward, founded in 20151
In its 2026 annual report the company says: “We are a late clinical-stage biopharmaceutical company focused on developing differentiated molecules for patients with cancer and inflammatory and autoimmune diseases.”4 Its shares trade on NYSE under the symbol RCUS.1
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Last updated Oct 21, 2026.
Overview
2015Founded1
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- TickerRCUS on NYSE1
- Industrypharmaceutical industry1
- HeadquartersHayward1
- Websitearcusbio.com
- Incorporated inDE3
- Business address3928 Point Eden Way, Hayward, Ca 945453
- Filer categoryLarge accelerated filer3
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We are a late clinical-stage biopharmaceutical company focused on developing differentiated molecules for patients with cancer and inflammatory and autoimmune diseases. Our most advanced molecules are in Phase 3 registrational studies for various cancer indications and we expect our next wave of clinical-stage molecules to come from our inflammation and autoimmune disease programs. Our vision is to leverage our internal small-molecule discovery capabilities to create, develop and commercialize highly differentiated therapies that can have a meaningful impact on patients.4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
-1169.7%Operating margin5
-1069.7%Net margin5
-35.3%Revenue growth, 20255
-55.9%Return on equity5
0.16×Debt to equity5
-$484.0MFree cash flow5
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
License And Development Services brought in 89% of the revenue Arcus Biosciences broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| License And Development Services | $80.0M | $222.0M | $221.0M |
| Other Collaboration Revenue | $37.0M | $36.0M | $26.0M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Research and development100¢$523.0M
Out of $33.0M in revenue.5 The company lost money this year.
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Research and development (Includes $25, ($39) and ($110) payments to/(from) a related party) | $523.0M | $448.0M | $340.0M |
| Impairment of long-lived assets (see Note 14, Leases) | $0 | $20.0M | $0 |
| Total operating expenses | $633.0M | $588.0M | $457.0M |
| Loss from operations | -$386.0M | -$330.0M | -$340.0M |
| Interest and other income, net | $41.0M | $52.0M | $41.0M |
| Interest expense | -$8.0M | -$4.0M | -$2.0M |
| Total non-operating income, net | $33.0M | $48.0M | $39.0M |
| Loss before income taxes | -$353.0M | -$282.0M | -$301.0M |
| Income tax expense | $0 | -$1.0M | -$6.0M |
| Net loss | -$353.0M | -$283.0M | -$307.0M |
| Net loss per share, basic (in dollars per share) | -$3.29 | -$3.14 | -$4.15 |
| Net loss per share, diluted (in dollars per share) | -$3.29 | -$3.14 | -$4.15 |
| Shares used to compute net loss per share, basic (in shares) | 107.4M shares | 90.1M shares | 74.0M shares |
| Shares used to compute net loss per share, diluted (in shares) | 107.4M shares | 90.1M shares | 74.0M shares |
| Revenues | $247.0M | $258.0M | $117.0M |
| General and administrative expense | $110.0M | $120.0M | $117.0M |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $222.0M | $150.0M | ||
| Marketable securities | $759.0M | $828.0M | ||
| Prepaid expenses and other current assets | $15.0M | $18.0M | ||
| Total current assets | $1.0B | $1.0B | ||
| Long-term marketable securities | $29.0M | $14.0M | ||
| Property and equipment, net | $40.0M | $47.0M | ||
| Other noncurrent assets | $63.0M | $73.0M | ||
| Total assets | $1.1B | $1.1B | ||
| Other current liabilities | $154.0M | $123.0M | ||
| Total current liabilities | $231.0M | $226.0M | ||
| Deferred revenue, noncurrent ($43 and $234 to a related party) | $43.0M | $234.0M | ||
| Long-term debt | $99.0M | $48.0M | ||
| Other noncurrent liabilities | $135.0M | $157.0M | ||
| Common stock and additional paid-in capital: $0.0001 par value per share; 400.0 shares authorized; 125.3 shares in 2025 and 92.2 shares in 2024 issued and outstanding | $2.1B | $1.6B | ||
| Accumulated deficit | -$1.5B | -$1.1B | ||
| Total stockholders equity | $631.0M | $485.0M | $462.0M | $657.0M |
| Total liabilities and stockholders equity | $1.1B | $1.1B | ||
| Receivable from collaboration partners, current | $11.0M | $20.0M | ||
| Accounts payable, current | $42.0M | $18.0M | ||
| Deferred revenue, current | $35.0M | $85.0M | ||
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | ||
| Common stock, shares authorized (in shares) | 400.0M shares | 400.0M shares | ||
| Common stock, shares issued (in shares) | 125.3M shares | 92.2M shares | ||
| Common stock, shares outstanding (in shares) | 125.3M shares | 92.2M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $222.0M | $150.0M | ||
| Marketable securities | $759.0M | $828.0M | ||
| Prepaid expenses and other current assets | $15.0M | $18.0M | ||
| Total current assets | $1.0B | $1.0B | ||
| Long-term marketable securities | $29.0M | $14.0M | ||
| Property and equipment, net | $40.0M | $47.0M | ||
| Other noncurrent assets | $63.0M | $73.0M | ||
| Total assets | $1.1B | $1.1B | ||
| Other current liabilities | $154.0M | $123.0M | ||
| Total current liabilities | $231.0M | $226.0M | ||
| Deferred revenue, noncurrent ($43 and $234 to a related party) | $43.0M | $234.0M | ||
| Long-term debt | $99.0M | $48.0M | ||
| Other noncurrent liabilities | $135.0M | $157.0M | ||
| Common stock and additional paid-in capital: $0.0001 par value per share; 400.0 shares authorized; 125.3 shares in 2025 and 92.2 shares in 2024 issued and outstanding | $2.1B | $1.6B | ||
| Accumulated deficit | -$1.5B | -$1.1B | ||
| Total stockholders equity | $631.0M | $485.0M | $462.0M | $657.0M |
| Total liabilities and stockholders equity | $1.1B | $1.1B | ||
| Receivable from collaboration partners, current | $11.0M | $20.0M | ||
| Accounts payable, current | $42.0M | $18.0M | ||
| Deferred revenue, current | $35.0M | $85.0M | ||
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | ||
| Common stock, shares authorized (in shares) | 400.0M shares | 400.0M shares | ||
| Common stock, shares issued (in shares) | 125.3M shares | 92.2M shares | ||
| Common stock, shares outstanding (in shares) | 125.3M shares | 92.2M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net loss | -$353.0M | -$283.0M | -$307.0M |
| Stock-based compensation expense | $60.0M | $76.0M | $73.0M |
| Depreciation and amortization | $10.0M | $10.0M | $8.0M |
| Noncash lease expense | $7.0M | $7.0M | $8.0M |
| Impairment on right-of use assets | $0 | $20.0M | $0 |
| Amortization of discounts on marketable securities | -$13.0M | -$25.0M | -$19.0M |
| Other items, net | $1.0M | $3.0M | $2.0M |
| Accounts payable ($24, $, and $ to a related party) | $24.0M | $3.0M | -$1.0M |
| Deferred revenue (($240), ($56) and ($77) to a related party) | -$240.0M | -$56.0M | -$68.0M |
| Other liabilities | $8.0M | $25.0M | -$3.0M |
| Net cash used in operating activities | -$482.0M | -$170.0M | -$306.0M |
| Purchases of marketable securities | -$1.1B | -$1.0B | -$788.0M |
| Proceeds from maturities of marketable securities | $1.1B | $929.0M | $982.0M |
| Proceeds from sales of marketable securities | $71.0M | $36.0M | $24.0M |
| Purchases of property and equipment | -$2.0M | -$6.0M | -$24.0M |
| Net cash provided by (used in) investing activities | $66.0M | -$84.0M | $194.0M |
| Proceeds from issuance of common stock ($14, $228 and $20 from a related party), net | $429.0M | $228.0M | $25.0M |
| Proceeds from debt issuances, net | $49.0M | $47.0M | $0 |
| Proceeds from issuance of common stock pursuant to equity award plans | $10.0M | $9.0M | $8.0M |
| Payments of employee taxes related to net settlement of equity awards | $0 | -$7.0M | $0 |
| Net cash provided by financing activities | $488.0M | $277.0M | $33.0M |
| Net increase (decrease) in cash, cash equivalents and restricted cash | $72.0M | $23.0M | -$79.0M |
| Income taxes paid | $0 | $0 | $5.0M |
| Interest paid | $7.0M | $1.0M | $0 |
| Unpaid portion of property and equipment purchases included in Accounts payable and Other current liabilities | $0 | $0 | $2.0M |
| Receivable from collaboration partners | $9.0M | $28.0M | $15.0M |
| Other assets | $5.0M | $22.0M | -$14.0M |
No quarter-by-quarter statement was filed.
Corporate structure
Arcus Biosciences sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Arcus Biosciences
- Gilead Sciences Filed SCHEDULE 13D/A on Arcus Biosciences, latest Aug 7, 2026 (7 filings since Jul 6, 2023)
- VANGUARD GROUP INC Filed SCHEDULE 13G/A on Arcus Biosciences, latest Mar 26, 2026 (3 filings since Feb 9, 2023)
- BlackRock Filed SCHEDULE 13G/A on Arcus Biosciences, latest Jan 8, 2026 (9 filings since Feb 4, 2022)
- Point72 Asset Management, L.P. Filed SCHEDULE 13G/A on Arcus Biosciences, latest Nov 14, 2025 (2 filings since May 13, 2025)
- Terry J. Rosen Filed SC 13D/A on Arcus Biosciences, latest Dec 17, 2024
- FMR LLC Filed SC 13G/A on Arcus Biosciences, latest Nov 12, 2024 (2 filings since Feb 9, 2024)
- State Street Corporation Filed SC 13G/A on Arcus Biosciences, latest Oct 17, 2024 (2 filings since Jan 24, 2024)
- BIOTECHNOLOGY VALUE FUND L P Filed SC 13G/A on Arcus Biosciences, latest Feb 14, 2023 (2 filings since Mar 14, 2022)
- PFM Health Sciences, LP Filed SC 13G/A on Arcus Biosciences, latest Feb 14, 2023 (3 filings since Feb 14, 2022)
- EcoR1 Capital, LLC Filed SC 13G/A on Arcus Biosciences, latest Feb 10, 2023 (2 filings since Feb 14, 2022)
- GV 2016, L.P. Filed SC 13G/A on Arcus Biosciences, latest Feb 14, 2022
- Arcus Biosciences Hayward
Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Arcus Biosciences reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $90.0M5 Dec 31, 2025 | $88.0M5 Dec 31, 2024 | +2.3% |
| Accumulated depreciation | $50.0M5 Dec 31, 2025 | $41.0M5 Dec 31, 2024 | +22.0% |
| Property and equipment, net | $40.0M5 Dec 31, 2025 | $47.0M5 Dec 31, 2024 | −14.9% |
| Operating-lease assets (leased space) | $58.0M5 Dec 31, 2025 | $65.0M5 Dec 31, 2024 | −10.8% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $222.0M5 Dec 31, 2025 | $150.0M5 Dec 31, 2024 | +48.0% |
| Marketable securities, current | $759.0M5 Dec 31, 2025 | $828.0M5 Dec 31, 2024 | −8.3% |
| Marketable securities, non-current | $29.0M5 Dec 31, 2025 | $14.0M5 Dec 31, 2024 | +107.1% |
| Debt securities available for sale | $1.0B5 Dec 31, 2025 | $992.0M5 Dec 31, 2024 | +1.8% |
Properties, in its own words
As of December 31, 2025, our corporate headquarters, which includes executive offices and R&D and business operations, consist of approximately 151,000 square feet of leased office and laboratory space in an office park in Hayward, California. We also lease approximately 109,000 square feet of office space in Brisbane, California. The lease terms for both facilities expire in 2031, subject to options for us to extend the lease term. We have subleased approximately 31,000 square feet of our Brisbane office to a third-party, which commenced in October 2023 and extends through 2028. We have also subleased approximately 19,000 square feet of our Brisbane office to a third-party, which commenced in December 2024 and extends through 2031.
Item 2 of the 10-K filed Feb 25, 2026.4
Leadership
Who has led Arcus Biosciences, and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
Chief operating officer
20202025
- Chief executive officerTerry J. Rosen Mar 14, 2018 to now14
- PresidentJuan C. Jaen Mar 14, 2018 to now15
- Chief financial officerRobert C. Goeltz Ii. Aug 4, 2020 to now16
- Chief operating officerJennifer Jarrett Oct 5, 2020 to now17
Board members and other officers (25)
- Chief Medical OfficerRichard Markus Feb 11, 2025 to now18
- Chief Accounting OfficerAlexander Azoy Mar 10, 2023 to now19
- Chief Medical OfficerDimitry Sa Nuyten Aug 8, 2022 to Dec 17, 202420
- OfficerRekha Hemrajani Mar 25, 2019 to Mar 25, 201921
- Chief Medical OfficerWilliam Grossman May 1, 2019 to Jun 21, 202122
- OfficerJason Barker Oct 4, 2019 to Jun 8, 202023
- OfficerJennifer Jarrett Mar 14, 2018 to Jun 12, 201824
- OfficerSteven Chan Mar 14, 2018 to Jan 18, 201925
- Board memberDietmar Berger Feb 10, 2025 to Feb 10, 202526
- Board memberJohanna Mercier Feb 7, 2024 to Feb 7, 202427
- Board memberMichael Quigley Jan 6, 2021 to Jan 6, 202128
- Board memberNicole Lambert Aug 5, 2021 to now29
- Board memberLinda Slanec Higgins Aug 13, 2021 to Aug 13, 202130
- Board memberDavid L. Lacey May 26, 2020 to now31
- Board memberMerdad Parsey Jul 13, 2020 to Jul 13, 202032
- Board memberJennifer Jarrett Jan 15, 2019 to Jan 25, 202433
- Board memberAntoni Ribas Oct 30, 2019 to now34
- Board memberClarence Patrick Machado Dec 12, 2019 to now35
- Board memberDavid W. Beier Mar 14, 2018 to Jun 10, 201936
- Board memberJuan C. Jaen Mar 14, 2018 to Jan 25, 202415
- Board memberKathryn E. Falberg Mar 14, 2018 to now37
- Board memberTerry J. Rosen Mar 14, 2018 to now14
- Board memberYasunori Kaneko Mar 14, 2018 to now38
- Board memberKristen Hege Oct 22, 2018 to Jun 10, 201939
- General counselCarolyn C. Tang Dec 18, 2020 to now40
Timeline
- Aug 5, 20268-K Results of operations41
- Jun 12, 20268-K Shareholder vote42
- May 5, 20268-K Results of operations43
- Apr 20, 20268-K Other events44
- Mar 23, 20268-K Executive or director change45
- Feb 25, 20268-K Results of operations46
- Dec 18, 20258-K Entered a material agreement; New debt or obligation47
- Dec 12, 20258-K Other events48
- Nov 3, 20258-K Other events49
- Oct 28, 20258-K Results of operations50
- Oct 14, 20258-K Other events51
- Oct 6, 20258-K Other events52
- Mar 15, 2018Went public Listed on NYSE1
- Mar 14, 2018New chief executive Terry J. Rosen becomes CEO14
- 2015Founded Founded1
Calendar
Coming up
- Oct 27, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($1.27) a share, on Oct 28, 2025.53
When it reported results
- Aug 5, 2026Reported quarterly or annual results41
- May 5, 2026Reported quarterly or annual results43
- Feb 25, 2026Reported quarterly or annual results46
- Oct 28, 2025Reported quarterly or annual results50
- Aug 6, 2025Reported quarterly or annual results54
- May 6, 2025Reported quarterly or annual results55
- Feb 25, 2025Reported quarterly or annual results56
- Feb 18, 2025Reported quarterly or annual results57
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
362 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 51 major events, 175 insider forms, 34 large holders, 82 other. The latest 20:
- Sep 28, 2026CT ORDER EDGAR
- Aug 24, 20264 EDGAR
- Aug 21, 2026144 EDGAR
- Aug 7, 2026SCHEDULE 13D/A EDGAR
- Aug 5, 202610-Q EDGAR
- Aug 5, 20268-K EDGAR
- Jul 13, 20264 EDGAR
- Jul 9, 2026144 EDGAR
- Jun 24, 2026144 EDGAR
- Jun 24, 20264 EDGAR
- Jun 22, 2026144 EDGAR
- Jun 12, 20264 EDGAR
- Jun 12, 20264 EDGAR
- Jun 12, 20264 EDGAR
- Jun 12, 20264 EDGAR
- Jun 12, 20268-K EDGAR
- Jun 12, 20264 EDGAR
- Jun 12, 20264 EDGAR
- Jun 12, 20264 EDGAR
- Jun 12, 20264 EDGAR
The 362 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
92 open-market trades by officers, directors and large owners since October 2021: 5 buys and 87 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Aug 21, 2026 | Azoy AlexanderChief Accounting Officer | Sale | 2,827 | $30.00 | $84.8K | Form 4 |
| Jul 10, 2026 | Jaen Juan C.President | Sale | 20,067 | $28.62 | $574.3K | Form 4 |
| Jul 9, 2026 | Jaen Juan C.President | Sale | 48,502 | $30.05 | $1.5M | Form 4 |
| Jun 24, 2026 | Jaen Juan C.President | Sale | 6,431 | $29.66 | $190.7K | Form 4 |
| Jun 23, 2026 | Jaen Juan C.President | Sale | 15,764 | $27.73 | $437.1K | Form 4 |
| Jun 22, 2026 | Jaen Juan C.President | Sale | 9,236 | $27.03 | $249.6K | Form 4 |
| Jun 1, 2026 | Azoy AlexanderChief Accounting Officer | Sale | 2,562 | $25.77 | $66.0K | Form 4 |
| May 11, 2026 | Goeltz II Robert C.Chief Financial Officer | Sale | 7,763 | $25.63 | $199.0K | Form 4 |
| Jan 5, 2026 | Jaen Juan C.President | Sale | 31,823 | $21.41 | $681.3K | Form 4 |
| Dec 31, 2025 | Goeltz II Robert C.Chief Financial Officer | Sale | 6,552 | $23.38 | $153.2K | Form 4 |
| Dec 18, 2025 | Azoy AlexanderChief Accounting Officer | Sale | 4,343 | $22.25 | $96.6K | Form 4 |
| Dec 17, 2025 | Markus RichardChief Medical Officer | Sale | 4,494 | $22.16 | $99.6K | Form 4 |
| Dec 17, 2025 | Tang Carolyn C.General Counsel | Sale | 6,810 | $22.16 | $150.9K | Form 4 |
| Dec 17, 2025 | Azoy AlexanderChief Accounting Officer | Sale | 2,113 | $22.16 | $46.8K | Form 4 |
| Dec 17, 2025 | Jarrett JenniferChief Operating Officer | Sale | 9,983 | $22.16 | $221.2K | Form 4 |
| Dec 17, 2025 | Goeltz II Robert C.Chief Financial Officer | Sale | 5,960 | $22.16 | $132.1K | Form 4 |
| Dec 17, 2025 | Jaen Juan C.President | Sale | 9,983 | $22.16 | $221.2K | Form 4 |
| Dec 17, 2025 | ROSEN TERRY JChief Executive Officer | Sale | 25,744 | $22.16 | $570.5K | Form 4 |
| Dec 16, 2025 | Markus RichardChief Medical Officer | Sale | 5,052 | $21.88 | $110.5K | Form 4 |
| Dec 16, 2025 | Tang Carolyn C.General Counsel | Sale | 7,658 | $21.88 | $167.6K | Form 4 |
All 92 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Gilead SciencesSCHEDULE 13D/A, 7 filings Jul 6, 2023 to Aug 7, 202658
- VANGUARD GROUP INCSCHEDULE 13G/A, 3 filings Feb 9, 2023 to Mar 26, 202659
- BlackRockSCHEDULE 13G/A, 9 filings Feb 4, 2022 to Jan 8, 202660
- Point72 Asset Management, L.P.SCHEDULE 13G/A, 2 filings May 13, 2025 to Nov 14, 202561
- Terry J. RosenSC 13D/A, 1 filing Dec 17, 202462
- FMR LLCSC 13G/A, 2 filings Feb 9, 2024 to Nov 12, 202463
- State Street CorporationSC 13G/A, 2 filings Jan 24, 2024 to Oct 17, 202464
- BIOTECHNOLOGY VALUE FUND L PSC 13G/A, 2 filings Mar 14, 2022 to Feb 14, 202365
- PFM Health Sciences, LPSC 13G/A, 3 filings Feb 14, 2022 to Feb 14, 202366
- EcoR1 Capital, LLCSC 13G/A, 2 filings Feb 14, 2022 to Feb 10, 202367
- GV 2016, L.P.SC 13G/A, 1 filing Feb 14, 202268
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Terry Rosen, Ph.D.Chief Executive Officer and Director | 66 | $775.0K | $9.7M69 |
| 2025 | Richard Markus, M.D., Ph.D.Chief Medical Officer | 60 | $552.3K | $4.5M69 |
| 2025 | Juan Carlos Jaen, Ph.D.President | 68 | $660.0K | $3.5M69 |
| 2025 | Jennifer JarrettChief Operating Officer | 55 | $660.0K | $3.5M69 |
| 2025 | Robert C. Goeltz, IIChief Financial Officer | 53 | $540.0K | $2.7M69 |
| 2024 | Terry Rosen, Ph.D.Chief Executive Officer and Director | 66 | $725.0K | $7.3M69 |
| 2024 | Juan Carlos Jaen, Ph.D.President | 68 | $625.0K | $3.3M69 |
| 2024 | Jennifer JarrettChief Operating Officer | 55 | $625.0K | $3.3M69 |
| 2024 | Robert C. Goeltz, IIChief Financial Officer | 53 | $510.0K | $2.0M69 |
| 2023 | Terry Rosen, Ph.D.Chief Executive Officer and Director | 66 | $650.0K | $10.1M69 |
| 2023 | Juan Carlos Jaen, Ph.D.President | 68 | $575.0K | $4.8M69 |
| 2023 | Jennifer JarrettChief Operating Officer | 55 | $575.0K | $4.7M69 |
| 2023 | Robert C. Goeltz, IIChief Financial Officer | 53 | $490.0K | $3.6M69 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Gilead Sciences, Inc. | 31,424,760 | $968.8M | 58.8% | No change |
| BlackRock, Inc. | 16,416,249 | $506.1M | 0.0% | +1,189,774 |
| State Street Corp | 6,029,484 | $185.9M | 0.0% | +616,583 |
| Wellington Management Group Llp | 5,895,448 | $181.8M | 0.0% | −194,068 |
| Montanova Capital, LLC | 4,776,423 | $147.3M | 3.1% | −254,570 |
| Vanguard Portfolio Management LLC | 4,475,528 | $138.0M | 0.0% | +203,472 |
| Fmr LLC | 4,049,757 | $124.9M | 0.0% | +2,884,505 |
| Vanguard Capital Management LLC | 3,888,346 | $119.9M | 0.0% | +31,621 |
| Citadel Advisors LLC | 3,135,057 | $96.7M | 0.1% | +1,805,122 |
| Woodline Partners LP | 3,007,798 | $92.7M | 0.3% | −770,000 |
| Geode Capital Management, LLC | 2,448,749 | $75.5M | 0.0% | +196,382 |
| Siren, L.L.C. | 2,420,430 | $74.6M | 1.5% | −586,647 |
| Fisher Asset Management, LLC | 2,139,396 | $66.0M | 0.0% | −51,008 |
| Marshall Wace, Llp | 1,945,088 | $60.0M | 0.1% | −1,816,349 |
| Samlyn Capital, LLC | 1,547,182 | $47.7M | 0.8% | −361,230 |
| Dimensional Fund Advisors LP | 1,434,320 | $44.2M | 0.0% | +8,097 |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | 1,419,533 | $43.8M | 0.0% | −235,221 |
| Goldman Sachs Group Inc | 1,387,566 | $42.8M | 0.0% | +387,780 |
| Soleus Capital Management, L.P. | 1,168,738 | $36.0M | 1.2% | +716,755 |
| Sofinnova Investments, Inc. | 945,690 | $29.2M | 1.6% | +22,604 |
| Charles Schwab Investment Management Inc | 941,756 | $29.0M | 0.0% | +38,118 |
| Northern Trust Corp | 932,523 | $28.7M | 0.0% | +92,218 |
| Parkman Healthcare Partners LLC | 919,266 | $28.3M | 2.9% | −288,008 |
| Invesco Ltd. | 845,233 | $26.1M | 0.0% | +24,413 |
| Baker Bros. Advisors LP | 844,816 | $26.0M | 0.1% | +429,195 |
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How Arcus Biosciences is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARArcus Biosciences, Inc.2
- CIK0001724521
- Employer ID (EIN)47-38984354
- Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company4
- Incorporated inDelaware4
- Fiscal year endsDecember 312
- Industry code (SIC)2834 Pharmaceutical Preparations2
- SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance2
- Business address3928 Point Eden Way, Hayward, CA 945452
- Phone(510) 694-62002
- Shares outstanding127,333,376 as of Jul 30, 202611
- Public float$565.9M as of Jun 30, 20254
- AuditorErnst & Young, LLP, San Mateo, California PCAOB ID 42; it also attests to the company’s internal control over financial reporting4
- On EDGAR sinceDec 15, 20172
- Filings602 in all: 4 (258), 8-K (92), 144 (50), 3 (31), 10-Q (26), SC 13G/A (24), SC 13G (17), DEFA14A (10)2
All 36 form types
S-8 (9), 10-K (8), DEF 14A (8), CORRESP (7), 424B5 (6), UPLOAD (6), S-3ASR (5), SCHEDULE 13D/A (5), ARS (4), SC 13D (4), SC 13D/A (4), SCHEDULE 13G/A (4), CT ORDER (3), 144/A (2), 8-K/A (2), DRS/A (2), DRSLTR (2), EFFECT (2), S-1/A (2), 4/A (1), 424B4 (1), 8-A12B (1), CERT (1), DRS (1), S-1 (1), S-1MEF (1), S-3 (1), SCHEDULE 13G (1)
- Latest filingsAnnual report (10-K) Feb 25, 2026
Quarterly report (10-Q) Aug 5, 2026
Proxy statement (DEF 14A) Apr 21, 2026
Latest 8-K (8-K) Aug 5, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, Par Value $0.0001 Per Share | RCUS | The New York Stock Exchange |
From the cover page of the 10-K filed Feb 25, 2026 (Section 12(b) of the Exchange Act).4
Risk factors and legal proceedings
The risks Arcus Biosciences names in Item 1A of its 10-K filed Feb 25, 2026: 63 risks under these headings, as written.4
- Risks Related to our Limited Operating History, Financial Position and Capital Requirements
- We have a history of operating losses, have never generated any revenue from product sales and anticipate that we will continue to incur significant losses for the foreseeable future.
- We may need to obtain additional funding. If we do not receive or are unable to raise additional capital when needed, we may be forced to restrict our operations or delay, reduce or eliminate our product development programs.
- Our operating activities may be restricted as a result of covenants related to the indebtedness under our loan and security agreement with Hercules Capital, Inc., as amended, and we may be required to repay the outstanding indebtedness in an event of default, which could have a materially adverse effect on our business.
- Risks Related to the Discovery and Development of our Investigational Products
- If we are unable to obtain regulatory approval for our investigational products, or experience significant delays in doing so, our business will be materially harmed.
- Clinical drug development is a lengthy, expensive and uncertain process. If we do not achieve our projected development goals in the time frames we announce and expect, the commercialization of our investigational products, if approved, may be delayed and the credibility of our management team may be adversely affected and, as a result, our stock price may decline.
- The results of preclinical studies and early clinical trials are not always predictive of future results.
- Any difficulties or delays in the commencement or completion, or the termination or suspension, of our current or planned clinical trials could result in increased costs to us, delay or limit our ability to generate revenue or adversely affect our commercial prospects.
- Preliminary, topline, and interim data from our clinical studies that we announce or publish from time to time are subject to audit and verification procedures that could result in material changes in the final data and may change as more patient data become available.
- Most of our clinical trials are open-label studies and may be susceptible to bias.
- Enrollment and retention of subjects in clinical trials is expensive and time consuming and can be made more difficult or rendered impossible by competing treatments, clinical trials of competing investigational products, geopolitical instability and public health epidemics, each of which could result in significant delays and additional costs in our product development activities, or in the failure of such activities.
The other 52 risks
- Serious adverse events, undesirable side effects or other unexpected properties of our investigational products may be identified during development or after approval, which could lead to the discontinuation of our clinical development programs, refusal by regulatory authorities to approve our investigational products or limitations on the use of our investigational products or, if discovered following marketing approval, revocation of marketing authorizations or subsequent limitations on the use of our investigational products.
- Adverse findings from clinical trials conducted by third parties investigating the same investigational products as us in different territories or different investigational products directed to the same target as one of our programs could adversely affect our development program.
- Development of combination therapies may present more or different challenges than development of single agent therapies.
- Certain of our investigational products may require companion diagnostics in certain indications. Failure to successfully develop, validate and obtain regulatory clearance or approval for such tests could harm our product development strategy or prevent us from realizing the full commercial potential of our investigational products.
- The design or our execution of our ongoing and future clinical trials may not support marketing approval.
- We have conducted, and continue to conduct, portions of our clinical trials outside the U.S., and the FDA may not accept data from trials conducted in foreign locations.
- Disruptions at the FDA and other government agencies caused by funding shortages, staffing limitations or policy changes could hinder their ability to hire, retain or deploy key leadership and other personnel, prevent new or modified products from being developed, review, approved or commercialized in a timely manner or at all, which could negatively impact our business.
- Risks Related to Reliance on Third Parties, Manufacturing and Commercialization
- We expect to depend on our collaboration with Gilead for the research, development, manufacture and commercialization of certain of our investigational products. If this collaboration is not successful, our business could be adversely affected.
- We rely on third parties to conduct our clinical trials and perform some of our research and preclinical studies. If these third parties do not satisfactorily carry out their contractual duties or fail to meet expected deadlines, our development programs may be delayed or subject to increased costs, each of which may have an adverse effect on our business and prospects.
- Supply by third parties of the investigational products, standard-of-care drugs or comparator agents used in our clinical trials may become limited or interrupted, or more costly, which could delay, prevent or impair our development efforts.
- Our manufacturing partners are subject to extensive regulation. In the event any of our manufacturers fail to comply with such regulations or perform its obligations, our business may be adversely affected and we may need to delay or halt the development of our investigational products.
- Our employees, clinical trial investigators, CROs, consultants, vendors, collaboration partners and any potential commercial partners may engage in misconduct or other improper activities, including non-compliance with regulatory standards and requirements and insider trading.
- Even if we receive regulatory approval for any investigational product, we will be subject to ongoing regulatory obligations and continued regulatory review, which may result in significant additional expense.
- Even if we receive marketing approval, we may not be successful in commercializing our investigational products.
- We may fail to obtain orphan drug designations from the FDA for our investigational products, and even if we obtain such designations, we may be unable to maintain the benefits associated with orphan drug designation, including the potential for market exclusivity.
- Even if we receive marketing approval for one or more of our investigational products, our commercial success is dependent on obtaining coverage and reimbursement for a product from a government or other third-party payor, which coverage may be delayed or may not be sufficient to cover our costs.
- Obtaining and maintaining regulatory approval of investigational products in one jurisdiction does not guarantee that we will be able to obtain or maintain regulatory approval in any other jurisdiction. Even if our investigational products
- are approved by the FDA, they may never be approved or commercialized outside the U.S., which would limit our ability to realize their full market potential.
- Any investigational products for which we intend to seek approval as biologic products may face competition sooner than anticipated.
- Risks Related to our In-Licenses and Other Strategic Agreements
- We are currently party to several in-license agreements under which we acquired rights to use, develop, manufacture and/or commercialize certain of our investigational products. If we breach our obligations under these agreements, we may be required to pay damages, lose our rights to these investigational products or both, which would adversely affect our business and prospects.
- We may not realize the benefits of any acquisitions, in-license or other collaborations or strategic alliances that we enter into.
- Risks Related to Intellectual Property
- If we are unable to obtain and maintain sufficient intellectual property protection for our investigational products, or if the scope of the intellectual property protection is not sufficiently broad, our competitors could develop and commercialize products similar or identical to ours, and our ability to successfully commercialize our products may be adversely affected.
- We may become involved in lawsuits alleging that we have infringed the intellectual property rights of third parties or to protect or enforce our patents or other intellectual property, which litigation could be expensive, time consuming and adversely affect our ability to develop or commercialize our investigational products.
- We may be subject to claims that our employees, consultants or independent contractors have wrongfully used or disclosed confidential information of third parties.
- We may not be able to protect our intellectual property rights outside of the U.S.
- Changes in patent law in the U.S. and other jurisdictions could diminish the value of patents in general, thereby impairing our ability to protect our investigational products.
- We may rely on trade secret and proprietary know-how which can be difficult to trace and enforce and, if we are unable to protect the confidentiality of our trade secrets, our business and competitive position would be harmed.
- We may become subject to claims challenging the inventorship or ownership of our patents and other intellectual property.
- Patent terms may be inadequate to protect our competitive position on our investigational products for an adequate amount of time.
- Risks Related to our Business Operations
- We expect to expand our business operations and, as a result, we may encounter difficulties in managing our growth, which could disrupt our operations.
- Our future success depends on our ability to retain key employees, consultants and advisors and to attract, retain and motivate qualified personnel.
- We are highly dependent on the services of our founders, Terry Rosen, Ph.D., who serves as our Chief Executive Officer, and Juan Jaen, Ph.D., who serves as our President.
- We face substantial competition, which may result in others discovering, developing or commercializing products more quickly or marketing them more successfully than us. If their investigational products are shown to be safer or more effective than ours, then our commercial opportunity will be reduced or eliminated.
- Our internal information technology systems, and those of our third-party CROs and other third parties upon which we rely, are subject to failure, security breaches and other disruptions, which could result in a material disruption of our investigational products’ development programs, jeopardize sensitive information, prevent us from accessing critical information or result in a loss of our assets, and potentially expose us to notification obligations, loss, liability or reputational damage and otherwise adversely affect our business.
- Unfavorable global economic, political and trade conditions could adversely affect our business, financial condition or results of operations and may exacerbate the effects of the risks described herein.
- Our future growth may depend, in part, on our ability to operate in foreign markets, where we would be subject to additional regulatory burdens and other risks and uncertainties.
- We or the third parties upon which we depend may be adversely affected by earthquakes, fires or other natural disasters.
- Our ability to use our net operating loss carryforwards and certain other tax attributes may be limited.
- Changes in tax laws and regulations or exposure to additional tax liabilities could adversely affect our financial results.
- Risks Related to Our Industry
- Product liability lawsuits against us could cause us to incur substantial liabilities and could limit our commercialization of any investigational products that we may develop.
- Failure to comply with data privacy and data protection laws, regulations, or other obligations could lead to government enforcement actions (which could include civil or criminal penalties), private litigation, and/or adverse publicity and could negatively affect our operating results and business.
- Our business operations expose us to broadly applicable fraud and abuse, transparency, government price reporting, and other healthcare laws and regulations. If we are unable to comply, or have not fully complied, with such laws, we could face substantial penalties.
- Changes in healthcare law and implementing regulations, as well as changes in healthcare policy, may impact our business in ways that we cannot currently predict, and may have a significant adverse effect on our business and results of operations.
- We are subject to certain U.S. and foreign anti-corruption, anti-money laundering, export control, sanctions, and other trade laws and regulations. We can face serious consequences for violations.
- If we fail to comply with environmental, health and safety laws and regulations, we could become subject to fines or penalties or incur costs that could have a material adverse effect on the success of our business.
- Risks Related to Owning our Common Stock
- The stock price of our common stock has been and may continue to be volatile or may decline regardless of our operating performance.
- The amount of our future losses is uncertain and our quarterly operating results may fluctuate significantly or may fall below the expectations of investors or securities analysts, each of which may cause our stock price to fluctuate or decline.
- The concentration of our stock ownership will likely limit our stockholders’ ability to influence corporate matters, including the ability to influence the outcome of director elections and other matters requiring stockholder approval.
- Delaware law and provisions in our amended and restated certificate of incorporation and amended and restated bylaws could make a merger, tender offer or proxy contest difficult, thereby depressing the trading price of our common stock.
- Our amended and restated certificate of incorporation provides that the Court of Chancery of the State of Delaware is the exclusive forum for substantially all disputes between us and our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers or employees.
- General Risk Factors
- Sales of substantial amounts of our shares may cause the price of our common stock to decline.
- If we fail to maintain proper and effective internal controls, our ability to produce accurate and timely financial statements could be impaired, which could result in sanctions or other penalties that would harm our business.
Legal proceedings
We are not currently a party to any material legal proceedings. From time to time, we may become involved in legal proceedings arising in the ordinary course of our business. Regardless of outcome, litigation can have an adverse impact on us due to defense and settlement costs, diversion of management resources, negative publicity, reputational harm and other factors.
The opening of Item 3, Legal Proceedings.4
Links
- Websitearcusbio.com1
- WikidataQ113503877
- SEC EDGARCIK 1724521
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1WikidataArcus Biosciences on Wikidata
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- 15SEC EDGARJuan C. Jaen, President
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- 21SEC EDGARRekha Hemrajani, Officer
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- 23SEC EDGARJason Barker, Officer
- 24SEC EDGARJennifer Jarrett, Officer
- 25SEC EDGARSteven Chan, Officer
- 26SEC EDGARDietmar Berger, Board member
- 27SEC EDGARJohanna Mercier, Board member
- 28SEC EDGARMichael Quigley, Board member
- 29SEC EDGARNicole Lambert, Board member
- 30SEC EDGARLinda Slanec Higgins, Board member
- 31SEC EDGARDavid L. Lacey, Board member
- 32SEC EDGARMerdad Parsey, Board member
- 33SEC EDGARJennifer Jarrett, Board member
- 34SEC EDGARAntoni Ribas, Board member
- 35
- 36SEC EDGARDavid W. Beier, Board member
- 37SEC EDGARKathryn E. Falberg, Board member
- 38SEC EDGARYasunori Kaneko, Board member
- 39SEC EDGARKristen Hege, Board member
- 40SEC EDGARCarolyn C. Tang, General counsel
- 41SEC EDGARResults of operations
- 42SEC EDGARShareholder vote
- 43SEC EDGARResults of operations
- 44SEC EDGAROther events
- 45SEC EDGARExecutive or director change
- 46SEC EDGARResults of operations
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- 48SEC EDGAROther events
- 49SEC EDGAROther events
- 50SEC EDGARResults of operations
- 51SEC EDGAROther events
- 52SEC EDGAROther events
- 53NasdaqNasdaq calendar
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