$RCUS
Arcus Biosciences, Inc.

2024 Q3 Form 10-Q Financial Statement

#000172452124000138 Filed on August 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q2
Revenue $48.00M $39.00M $29.00M
YoY Change 50.0% 34.48% 8.37%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $30.00M $30.00M $28.00M
YoY Change 0.0% 7.14% 8.38%
% of Gross Profit
Research & Development $123.0M $115.0M $84.00M
YoY Change 50.0% 36.9% 20.16%
% of Gross Profit
Depreciation & Amortization $2.000M $2.000M $2.000M
YoY Change 100.0% 0.0% 32.89%
% of Gross Profit
Operating Expenses $153.0M $145.0M $112.0M
YoY Change 36.61% 29.46% 16.98%
Operating Profit -$105.0M -$106.0M -$83.00M
YoY Change 31.25% 27.71% 20.32%
Interest Expense $14.00M $13.00M $9.000M
YoY Change 16.67% 44.44% 214.58%
% of Operating Profit
Other Income/Expense, Net $13.00M $13.00M $0.00
YoY Change 18.18% -100.0%
Pretax Income -$92.00M -$93.00M -$74.00M
YoY Change 33.33% 25.68% 11.06%
Income Tax $0.00 $0.00 $1.000M
% Of Pretax Income
Net Earnings -$92.00M -$93.00M -$75.00M
YoY Change 29.58% 24.0% 12.56%
Net Earnings / Revenue -191.67% -238.46% -258.62%
Basic Earnings Per Share -$1.00 -$1.02 -$1.04
Diluted Earnings Per Share -$1.00 -$1.02 -$1.03
COMMON SHARES
Basic Shares Outstanding 91.43M shares 90.95M shares 73.20M
Diluted Shares Outstanding 91.40M shares 91.10M shares 73.20M

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.089B $969.0M $930.0M
YoY Change 36.3% 4.19% -20.7%
Cash & Equivalents $201.0M $156.0M $230.0M
Short-Term Investments $888.0M $813.0M $700.0M
Other Short-Term Assets $17.00M $20.00M $19.00M
YoY Change -37.04% 5.26% 21.24%
Inventory
Prepaid Expenses
Receivables $21.00M $33.00M $37.00M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.127B $1.022B $986.0M
YoY Change 27.78% 3.65% -19.67%
LONG-TERM ASSETS
Property, Plant & Equipment $48.00M $49.00M $45.00M
YoY Change -4.0% 8.89% 34.67%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.000M $40.00M $80.00M
YoY Change -98.68% -50.0% -18.64%
Other Assets $75.00M $75.00M $109.0M
YoY Change -30.56% -31.19% 935.83%
Total Long-Term Assets $125.0M $164.0M $234.0M
YoY Change -59.55% -29.91% -6.14%
TOTAL ASSETS
Total Short-Term Assets $1.127B $1.022B $986.0M
Total Long-Term Assets $125.0M $164.0M $234.0M
Total Assets $1.252B $1.186B $1.220B
YoY Change 5.12% -2.79% -17.39%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $13.00M $15.00M $12.00M
YoY Change -23.53% 25.0% -45.41%
Accrued Expenses $97.00M $71.00M $55.00M
YoY Change 34.72% 29.09% 280.94%
Deferred Revenue $105.0M $113.0M $103.0M
YoY Change 1.94% 9.71% 14.3%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $215.0M $199.0M $180.0M
YoY Change 7.5% 10.56% 9.74%
LONG-TERM LIABILITIES
Long-Term Debt $47.00M $0.00 $0.00
YoY Change
Other Long-Term Liabilities $136.0M $138.0M $474.0M
YoY Change -6.21% -70.89% 3128.66%
Total Long-Term Liabilities $136.0M $138.0M $474.0M
YoY Change -6.21% -70.89% 3128.66%
TOTAL LIABILITIES
Total Short-Term Liabilities $215.0M $199.0M $180.0M
Total Long-Term Liabilities $136.0M $138.0M $474.0M
Total Liabilities $351.0M $337.0M $654.0M
YoY Change 1.74% -48.47% -10.34%
SHAREHOLDERS EQUITY
Retained Earnings -$1.038B -$946.0M -$697.0M
YoY Change 35.16% 35.72% 70.01%
Common Stock $1.602B $1.582B $1.267B
YoY Change 24.09% 24.86% 18099900.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $565.0M $635.0M $566.0M
YoY Change
Total Liabilities & Shareholders Equity $1.252B $1.186B $1.220B
YoY Change 5.12% -2.79% -17.39%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q2
OPERATING ACTIVITIES
Net Income -$92.00M -$93.00M -$75.00M
YoY Change 29.58% 24.0% 12.56%
Depreciation, Depletion And Amortization $2.000M $2.000M $2.000M
YoY Change 100.0% 0.0% 32.89%
Cash From Operating Activities $26.00M -$94.00M -$57.00M
YoY Change -141.27% 64.91% -12.71%
INVESTING ACTIVITIES
Capital Expenditures $1.000M $0.00 $5.000M
YoY Change -90.0% -100.0% -430.25%
Acquisitions
YoY Change
Other Investing Activities -$28.00M $63.00M $31.00M
YoY Change -233.33% 103.23% -114.51%
Cash From Investing Activities -$29.00M $63.00M $26.00M
YoY Change -363.64% 142.31% -112.08%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $23.00M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 48.00M 2.000M 23.00M
YoY Change 700.0% -91.3% 429.22%
NET CHANGE
Cash From Operating Activities 26.00M -94.00M -57.00M
Cash From Investing Activities -29.00M 63.00M 26.00M
Cash From Financing Activities 48.00M 2.000M 23.00M
Net Change In Cash 45.00M -29.00M -8.000M
YoY Change -197.83% 262.5% -97.1%
FREE CASH FLOW
Cash From Operating Activities $26.00M -$94.00M -$57.00M
Capital Expenditures $1.000M $0.00 $5.000M
Free Cash Flow $25.00M -$94.00M -$62.00M
YoY Change -134.25% 51.61% -2.8%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.021
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-152000000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-96000000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-155000000 usd
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
593000000 usd
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
393000000 usd
rcus Proceeds From Maturity Of Marketable Securities
ProceedsFromMaturityOfMarketableSecurities
542000000 usd
CY2023Q2 us-gaap Restricted Cash Noncurrent Asset Statement Of Financial Position Extensible List
RestrictedCashNoncurrentAssetStatementOfFinancialPositionExtensibleList
http://fasb.org/us-gaap/2024#OtherAssetsNoncurrent
CY2024Q2 us-gaap Restricted Cash Noncurrent Asset Statement Of Financial Position Extensible List
RestrictedCashNoncurrentAssetStatementOfFinancialPositionExtensibleList
http://fasb.org/us-gaap/2024#OtherAssetsNoncurrent
us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
0 usd
us-gaap Operating Expenses
OperatingExpenses
223000000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
-169000000 usd
rcus Interest And Other Income Expense Nonoperating Net
InterestAndOtherIncomeExpenseNonoperatingNet
18000000 usd
CY2024Q2 rcus Effective Interest On Liability For Sale Of Future Royalties
EffectiveInterestOnLiabilityForSaleOfFutureRoyalties
0 usd
CY2023Q2 rcus Effective Interest On Liability For Sale Of Future Royalties
EffectiveInterestOnLiabilityForSaleOfFutureRoyalties
0 usd
rcus Effective Interest On Liability For Sale Of Future Royalties
EffectiveInterestOnLiabilityForSaleOfFutureRoyalties
1000000 usd
rcus Effective Interest On Liability For Sale Of Future Royalties
EffectiveInterestOnLiabilityForSaleOfFutureRoyalties
1000000 usd
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
17000000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-152000000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3000000 usd
us-gaap Net Income Loss
NetIncomeLoss
-155000000 usd
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.04
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.13
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.13
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
91100000 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
73200000 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
73200000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
73100000 shares
us-gaap Net Income Loss
NetIncomeLoss
-155000000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
3000000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
127000000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
632000000 usd
CY2023Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
38000000 usd
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
34000000 usd
CY2023Q4 us-gaap Assets Current
AssetsCurrent
831000000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
107000000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
51000000 usd
CY2023Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
106000000 usd
CY2023Q4 us-gaap Assets
Assets
1095000000 usd
CY2023Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
17000000 usd
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
91000000 usd
CY2023Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
76000000 usd
CY2023Q4 us-gaap Liabilities Current
LiabilitiesCurrent
184000000 usd
CY2023Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
307000000 usd
CY2024Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
138000000 usd
CY2024Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
usd
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
400000000.0 shares
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
91300000 shares
CY2024Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
91300000 shares
CY2024Q2 us-gaap Common Stock Value
CommonStockValue
1582000000 usd
CY2024Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-946000000 usd
CY2024Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-1000000 usd
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
635000000 usd
CY2024Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
1186000000 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
657000000 usd
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
19000000 usd
CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
3000000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-80000000 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
600000000 usd
CY2023Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
20000000 usd
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
18000000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-75000000 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
566000000 usd
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
462000000 usd
CY2024Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
228000000 usd
CY2024Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
20000000 usd
CY2024Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1000000 usd
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-4000000 usd
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
707000000 usd
CY2024Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
20000000 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-93000000 usd
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
635000000 usd
us-gaap Profit Loss
ProfitLoss
-97000000 usd
us-gaap Profit Loss
ProfitLoss
-155000000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
40000000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
37000000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
5000000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
4000000 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
4000000 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
4000000 usd
us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
20000000 usd
us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
0 usd
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
13000000 usd
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
8000000 usd
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
1000000 usd
us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
1000000 usd
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
-20000000 usd
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
-4000000 usd
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-15000000 usd
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
1000000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1000000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-9000000 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-81000000 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-19000000 usd
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-9000000 usd
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-13000000 usd
rcus Proceeds From Maturity Of Marketable Securities
ProceedsFromMaturityOfMarketableSecurities
484000000 usd
rcus Proceeds From Sale Of Marketable Securities
ProceedsFromSaleOfMarketableSecurities
7000000 usd
rcus Proceeds From Sale Of Marketable Securities
ProceedsFromSaleOfMarketableSecurities
14000000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4000000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
8000000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-106000000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
155000000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
228000000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
20000000 usd
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
4000000 usd
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
4000000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1000000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
0 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
231000000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
24000000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
29000000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
24000000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
130000000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
209000000 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
159000000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
233000000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
0 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
8000000 usd
us-gaap Nature Of Operations
NatureOfOperations
Organization, liquidity and capital resources<div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Organization </span></div><div style="margin-top:6pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Arcus Biosciences, Inc. (referred to as "Arcus," "we," "our," "us," or the "Company") is a clinical-stage biopharmaceutical company focused on creating best-in-class therapies. Using our robust and highly efficient drug discovery capability, we have created a significant portfolio of investigational products which are in clinical development, with our most advanced molecule, an anti-TIGIT antibody, now in multiple Phase 3 registrational studies targeting lung and gastrointestinal ("GI") cancers. Our deep portfolio of novel small molecules and enabling antibodies allows us to create highly differentiated therapies, which we are developing to treat multiple large indications.</span></div><div style="margin-top:6pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We operate and manage our business as one reportable and operating segment, which is the business of developing and commercializing highly differentiated therapies that have a meaningful impact on patients.</span></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Liquidity and Capital Resources</span></div><div style="margin-top:6pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of June 30, 2024, we had cash, cash equivalents and marketable securities of $1.0 billion, which we believe will be sufficient to fund our planned operations for a period of at least twelve months following the date of filing of this report.</span></div>
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:6pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates </span></div><div style="margin-top:6pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the Condensed Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and related disclosures. We base our estimates on historical experience and on various market-specific and other relevant assumptions that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Estimates are assessed and updated each period to reflect current information. Actual results may differ materially from those estimates.</span></div>
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
39000000 usd
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
29000000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
184000000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
54000000 usd
CY2024Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
39000000 usd
CY2023Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
28000000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
180000000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
53000000 usd
CY2024Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
327000000 usd
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
398000000 usd
CY2024Q1 rcus Option Payment For Etrumadenant
OptionPaymentForEtrumadenant
100000000 usd
CY2024Q1 rcus Contract With Customer Liability Cumulative Catch Up Adjustment To Revenue Change In Measure Of Progress And Change In Estimate Of Transaction Price
ContractWithCustomerLiabilityCumulativeCatchUpAdjustmentToRevenueChangeInMeasureOfProgressAndChangeInEstimateOfTransactionPrice
107000000 usd
CY2024Q1 rcus Contract With Customer Liability Cumulative Catch Up Adjustment To Revenue Earnings Per Share Basic
ContractWithCustomerLiabilityCumulativeCatchUpAdjustmentToRevenueEarningsPerShareBasic
1.21
CY2024Q1 rcus Contract With Customer Liability Cumulative Catch Up Adjustment To Revenue Earnings Per Share Diluted
ContractWithCustomerLiabilityCumulativeCatchUpAdjustmentToRevenueEarningsPerShareDiluted
1.21
CY2024Q1 rcus Option Payment For Domvanalimab
OptionPaymentForDomvanalimab
87000000 usd
CY2024Q1 rcus Option Payment For Etrumadenant
OptionPaymentForEtrumadenant
100000000 usd
CY2024Q1 rcus Deferred Revenues At Amendment Closing Date
DeferredRevenuesAtAmendmentClosingDate
335000000 usd
CY2024Q1 rcus Allocation Of Transaction Price
AllocationOfTransactionPrice
522000000 usd
CY2024Q1 rcus Option Payment For Etrumadenant
OptionPaymentForEtrumadenant
100000000 usd
CY2024Q1 rcus Option Payment For Domvanalimab
OptionPaymentForDomvanalimab
87000000 usd
CY2024Q1 rcus Deferred Revenues At Amendment Closing Date
DeferredRevenuesAtAmendmentClosingDate
335000000 usd
CY2024Q1 rcus Allocation Of Transaction Price
AllocationOfTransactionPrice
522000000 usd
CY2024Q1 rcus Etrumadenant License And Research And Development Activities
EtrumadenantLicenseAndResearchAndDevelopmentActivities
210000000 usd
CY2024Q1 rcus Quemliclustat License And Research And Development Activities
QuemliclustatLicenseAndResearchAndDevelopmentActivities
168000000 usd
CY2024Q1 rcus Zimberelimab Research And Development And Commercial Activities
ZimberelimabResearchAndDevelopmentAndCommercialActivities
33000000 usd
CY2024Q1 rcus Access Rights
AccessRights
57000000 usd
CY2024Q1 rcus Option Continuation Periods
OptionContinuationPeriods
20000000 usd
CY2024Q1 rcus Rights To Certain Studies
RightsToCertainStudies
34000000 usd
CY2024Q1 rcus Allocation To Performance Obligations
AllocationToPerformanceObligations
522000000 usd
rcus Allocation To Performance Obligations
AllocationToPerformanceObligations
35000000 usd
us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
2000000 usd
CY2024Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
3000000 usd
CY2023Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
3000000 usd
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1000000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3000000 usd
CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.020
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
18800000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
16100000 shares
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
20000000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
18000000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
40000000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
37000000 usd
CY2024Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
1010000000 usd
CY2024Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0 usd
CY2024Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1000000 usd
CY2024Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
1009000000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
866000000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
1000000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
1000000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
866000000 usd
CY2024Q2 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
156000000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
127000000 usd
CY2024Q2 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
813000000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
632000000 usd
CY2024Q2 us-gaap Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
40000000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
107000000 usd
CY2024Q2 rcus Cash Cash Equivalents And Available For Sale Investments
CashCashEquivalentsAndAvailableForSaleInvestments
1009000000 usd
CY2023Q4 rcus Cash Cash Equivalents And Available For Sale Investments
CashCashEquivalentsAndAvailableForSaleInvestments
866000000 usd
CY2024Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
127 position
CY2023Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
105 position
CY2024Q2 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
0 usd
us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
0 usd
us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
0 usd
CY2023 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
0 usd
CY2023Q2 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
0 usd
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
156000000 usd
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
230000000 usd
CY2024Q2 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
3000000 usd
CY2023Q2 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
3000000 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
159000000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
233000000 usd
CY2024Q2 rcus Prepaid Expenses And Other Current Assets
PrepaidExpensesAndOtherCurrentAssets
20000000 usd
CY2023Q4 rcus Prepaid Expenses And Other Current Assets
PrepaidExpensesAndOtherCurrentAssets
30000000 usd
CY2024Q2 us-gaap Interest Receivable Current
InterestReceivableCurrent
5000000 usd
CY2023Q4 us-gaap Interest Receivable Current
InterestReceivableCurrent
4000000 usd
CY2024Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
25000000 usd
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
34000000 usd
CY2024Q2 rcus Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
38000000 usd
CY2023Q4 rcus Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
36000000 usd
CY2024Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
20000000 usd
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
26000000 usd
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
11000000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
11000000 usd
CY2024Q2 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
2000000 usd
CY2023Q4 us-gaap Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
3000000 usd
CY2024Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
71000000 usd
CY2023Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
76000000 usd
rcus Cash Paid For Amounts Included In Measurement Of Lease Liabilities
CashPaidForAmountsIncludedInMeasurementOfLeaseLiabilities
8000000 usd
rcus Cash Paid For Amounts Included In Measurement Of Lease Liabilities
CashPaidForAmountsIncludedInMeasurementOfLeaseLiabilities
8000000 usd
rcus Cash Received From Tenant Improvement Allowances
CashReceivedFromTenantImprovementAllowances
0 usd
rcus Cash Received From Tenant Improvement Allowances
CashReceivedFromTenantImprovementAllowances
1000000 usd
rcus Recognition Of Tenant Improvement Allowance Receivable
RecognitionOfTenantImprovementAllowanceReceivable
0 usd
rcus Recognition Of Tenant Improvement Allowance Receivable
RecognitionOfTenantImprovementAllowanceReceivable
4000000 usd
us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
20000000 usd
CY2023Q4 us-gaap Security Deposit
SecurityDeposit
3000000 usd
CY2024Q2 us-gaap Security Deposit
SecurityDeposit
3000000 usd
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

Files In Submission

Name View Source Status
rcus-20240630_cal.xml Edgar Link unprocessable
0001724521-24-000138-index-headers.html Edgar Link pending
0001724521-24-000138-index.html Edgar Link pending
0001724521-24-000138.txt Edgar Link pending
0001724521-24-000138-xbrl.zip Edgar Link pending
a2024q2exhibit311.htm Edgar Link pending
a2024q2exhibit312.htm Edgar Link pending
a2024q2exhibit321.htm Edgar Link pending
a2024q2exhibit322.htm Edgar Link pending
exhibit101.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
rcus-20240630.htm Edgar Link pending
rcus-20240630.xsd Edgar Link pending
rcus-20240630_g1.jpg Edgar Link pending
rcus-20240630_g2.jpg Edgar Link pending
rcus-20240630_g3.jpg Edgar Link pending
rcus-20240630_g4.jpg Edgar Link pending
rcus-20240630_g5.jpg Edgar Link pending
rcus-20240630_g6.jpg Edgar Link pending
rcus-20240630_g7.jpg Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
rcus-20240630_def.xml Edgar Link unprocessable
rcus-20240630_lab.xml Edgar Link unprocessable
rcus-20240630_pre.xml Edgar Link unprocessable
rcus-20240630_htm.xml Edgar Link completed