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NYSE · Healthcare

Arcus Biosciences, Inc. (RCUS)

As-reported financials and SEC filings for Arcus Biosciences, Inc. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Arcus Biosciences, Inc.

Arcus Biosciences, Inc. is a clinical-stage biopharmaceutical company developing small-molecule therapies for cancer and inflammatory and autoimmune diseases. Its main products include casdatifan, an oral HIF-2α inhibitor in Phase 3 trials for renal cell carcinoma, and quemliclustat, a CD73 inhibitor in a Phase 3 study for metastatic pancreatic cancer. The company also develops antibodies like domvanalimab and zimberelimab for cancer immunotherapy and has inflammation programs targeting conditions such as chronic spontaneous urticaria.

Snapshot

Revenue
$247.0M
Revenue growth (YoY)
-4.3%
Net income
$-353.0M
Diluted EPS
$-3.29
Gross margin
Operating margin
Net margin
FCF margin
ROE
-55.9%
net income / fiscal-year-end equity
P/E
trailing when available, otherwise FY EPS
Market cap
$3.87B
Long-term debt / equity
0.16×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Arcus Biosciences

  • Revenue fell 4.3% to $247M in FY2025, slower than the 120.5% the year before.
  • Operating margin is now a 156.3% loss in FY2025, from 14.1% in FY2021.
  • Most recent quarter Q2 FY2026: revenue $33M, down 79.4% from Q2 FY2025.
  • Free cash flow was negative $484M in FY2025.
  • Net loss widened to $353M in FY2025, from $283M in FY2024.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Arcus Biosciences’s fundamentals sit among the 198 pharmaceutical companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Revenue growth (YoY)-4.3%
27th percentile of 187
ROE-55.9%
28th percentile of 167
Long-term debt / equity0.16×
29th percentile of 64
Short interest12.30d
85th percentile of 197

No reported insider purchases (code P) in the last 90 days; 8 insider sales totaling $3.0M. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among industry peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 5 quant / multi-strat books among the superinvestors we track; no conviction manager currently reports a position.

Conviction investors
0
+5 quant / multi-strat
Initiated / added
3
1 new, 2 added
Reduced / exited
4
2 trimmed, 2 exited
Combined position
$125.9M
reported long value
InvestorAs ofPosition valueSharesChange
Citadel AdvisorsquantQ2 2026$96.7M3.1MAdded
Two Sigma InvestmentsquantQ2 2026$19.6M635.4KAdded
Millennium ManagementquantQ2 2026$4.1M133.1KNew
D. E. ShawquantQ2 2026$3.0M96.4KReduced
AQR Capital ManagementquantQ2 2026$2.6M83.9KReduced

No longer held by: Point72 Asset Management (as of Q2 2026), Renaissance Technologies (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
8
$3.0M
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-08-21
filed 2026-08-24
Azoy AlexanderChief Accounting OfficerSell2.8K$30.00$85K
2026-07-10
filed 2026-07-13
Jaen Juan C.PresidentSell19.8K$28.61$566K
2026-07-10
filed 2026-07-13
Jaen Juan C.PresidentSell268$29.40$8K
2026-07-09
filed 2026-07-13
Jaen Juan C.PresidentSell48.5K$30.05$1.5M
2026-06-24
Jaen Juan C.PresidentSell6.4K$29.66$191K
2026-06-23
filed 2026-06-24
Jaen Juan C.PresidentSell14.1K$27.69$389K
2026-06-23
filed 2026-06-24
Jaen Juan C.PresidentSell1.7K$28.06$48K
2026-06-22
filed 2026-06-24
Jaen Juan C.PresidentSell9.2K$27.03$250K
2026-06-01
Azoy AlexanderChief Accounting OfficerSell2.6K$25.77$66K
2026-05-11
filed 2026-05-12
Goeltz II Robert C.Chief Financial OfficerSell7.8K$25.63$199K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
13.8M
settled 2026-08-14
Change vs prior
+5.6%
vs previous settlement
Days to cover
12.30
at avg daily volume
Avg daily volume
1.1M
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-1413.8M+5.6%12.30
2026-07-3113.1M+4.5%11.60
2026-07-1512.6M-0.7%12.92
2026-06-3012.6M-4.7%5.91
2026-06-1513.3M+13.3%10.87
2026-05-2911.7M+7.5%12.60
2026-05-1510.9M+0.1%11.22
2026-04-3010.9M-1.8%6.52

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$247.0M$258.0M$117.0M$112.0M$383.0M
Gross profit
Operating income$-386.0M$-330.0M$-340.0M$-280.0M$54.0M
Net income$-353.0M$-283.0M$-307.0M$-267.0M$53.0M
Diluted EPS$-3.29$-3.14$-4.15$-3.71$0.71

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

 FY2025FY2024FY2023FY2022FY2021
Cash and equivalents$222.0M$150.0M$127.0M$206.0M$148.0M
Current assets$1.01B$1.02B$831.0M$1.07B$1.26B
Total assets$1.14B$1.15B$1.09B$1.34B$1.59B
Current liabilities$231.0M$226.0M$184.0M$193.0M$166.0M
Long-term debt$99.0M$48.0M$0
Total liabilities$508.0M$665.0M$633.0M$688.0M$750.4M
Total equity$631.0M$485.0M$462.0M$657.0M$842.0M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$-482.0M$-170.0M$-306.0M$438.0M$-256.0M
Capital expenditure$2.0M$6.0M$24.0M$6.0M$26.0M
Free cash flow$-484.0M$-176.0M$-330.0M$432.0M$-282.0M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$33.0M-79.4%$-91.0M$-0.72
Q1 FY2026$17.0M-39.3%$-128.0M$-1.02
Q4 FY2025$33.0M26.9%$-106.0M$-0.90
Q3 FY2025$26.0M-45.8%$-135.0M$-1.27
Q2 FY2025$160.0M310.3%$0$0.00
Q1 FY2025$28.0M-80.7%$-112.0M$-1.14
Q4 FY2024$26.0M-16.1%$-94.0M$-1.03
Q3 FY2024$48.0M50.0%$-92.0M$-1.00

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNYSE
SectorHealthcare
SIC industryPharmaceutical Preparations
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2017
SEC CIK1724521

Selected SEC filings

10-K2026-02-25
View on EDGAR →
10-Q2026-08-05
View on EDGAR →
10-Q2026-05-05
View on EDGAR →
8-K2026-08-05
View on EDGAR →
8-K2026-06-12
View on EDGAR →
8-K2026-05-05
View on EDGAR →
8-K2026-04-20
View on EDGAR →

Largest pharmaceutical peers

All pharmaceutical stocksAll Healthcare companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.