Arcus Biosciences, Inc.
arcusbio.comWhat Do They Do?
Develops investigational medicines for cancer and inflammatory and autoimmune diseases, working with pharmaceutical partners on development and commercialization.
10-K for FY2025, filed Feb 25, 2026
How Do They Make Money?
Most revenue comes from partner licenses and development work: partners pay upfront and milestone fees for licenses, while research and development work earns payments as it is performed. The company has also received research support and reimbursement for clinical materials.
10-K for FY2025, filed Feb 25, 2026We currently do not have product sales and our revenues are derived from research, collaboration and license arrangements with strategic…View ↗
In arrangements involving more than one performance obligation, each performance obligation is evaluated to determine whether it qualifies…View ↗
Consideration associated with at-risk substantive performance milestones is recognized as revenue when it is probable that a significant…View ↗
We are a clinical-stage biopharmaceutical company with a limited operating history that may make it difficult to evaluate the success of…View ↗
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10-K for FY2025, filed Feb 25, 2026
FY2025 revenue by product or service ↗
$247M
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10-K for FY2025, filed Feb 25, 2026
$247M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
License and development services
Mix
10-K for FY2025, filed Feb 25, 2026 |
89% |
License and development services, FY2025
$221M Sources
|
Mix |
|
Other Collaboration Revenue
|
11%
FY2022: 34%
|
Other Collaboration Revenue, FY2025
$26M Sources
|
Who Are Their Customers?
Arcus works directly with pharmaceutical partners: Gilead licenses several programs and shares development, while Taiho holds rights to programs in certain Asian markets.
10-K for FY2025, filed Feb 25, 2026
10-K for FY2025, filed Feb 25, 2026
Revenues from Gilead accounted for 97%, 94% and 96% of Total revenues for the years ended December 31, 2025, 2024 and 2023, respectively.View ↗
Do Revenues Turn Into Profits?
No. It lost $353M in FY2025.
10-K for FY2025, filed Feb 25, 2026
−$386MView ↗
10-K for FY2025, filed Feb 25, 2026
−$353MView ↗
10-K for FY2025, filed Feb 25, 2026
−$484MView ↗
How Are They Changing?
10-Q for Q2 FY2026, filed Aug 5, 2026
Open tableView ↗
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Apr 20, 2026
STAR-121 ended, and Gilead's options on additional pipeline programs will end
Gilead will retain existing time-limited options to certain programs but will have no options on additional early-stage programs.
Sources
8-K, filed Apr 20, 2026
On April 20, 2026, Arcus Biosciences, Inc. (the “Company”) announced the discontinuation of the Phase 3 STAR-121 study, which is being…View ↗
Shrinking. Revenue fell 36% in 4 years, from $383M in FY2021 to $247M in FY2025, about 10% a year.
Who Do They Compete With?
Competes with AstraZeneca, BeiGene, Bristol-Myer Squibb, GlaxoSmithKline, Merck, Novartis, Pfizer, Regeneron, Sanofi, Roche, Genentech, Celldex Therapeutics, Abbvie, Amgen, NiKang Therapeutics, Arrowhead Pharmaceuticals, I-MAB Biopharma, Incyte, Innate Pharma, and Innovent Biologics
10-K for FY2025, filed Feb 25, 2026We compete in the segments of the pharmaceutical, biotechnology and other related markets that develop treatments for cancer and…View ↗
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