2024 Q4 Form 10-Q Financial Statement
#000172452124000160 Filed on November 06, 2024
Income Statement
Concept | 2024 Q4 | 2024 Q3 | 2023 Q3 |
---|---|---|---|
Revenue | $48.00M | $32.00M | |
YoY Change | 50.0% | -4.71% | |
Cost Of Revenue | |||
YoY Change | |||
Gross Profit | |||
YoY Change | |||
Gross Profit Margin | |||
Selling, General & Admin | $30.00M | $30.00M | |
YoY Change | 0.0% | 14.09% | |
% of Gross Profit | |||
Research & Development | $123.0M | $82.00M | |
YoY Change | 50.0% | 6.93% | |
% of Gross Profit | |||
Depreciation & Amortization | $2.000M | $1.000M | |
YoY Change | 100.0% | -35.9% | |
% of Gross Profit | |||
Operating Expenses | $153.0M | $112.0M | |
YoY Change | 36.61% | 8.76% | |
Operating Profit | -$105.0M | -$80.00M | |
YoY Change | 31.25% | 15.28% | |
Interest Expense | $14.00M | $12.00M | |
YoY Change | 16.67% | 139.38% | |
% of Operating Profit | |||
Other Income/Expense, Net | $13.00M | $11.00M | |
YoY Change | 18.18% | 145.65% | |
Pretax Income | -$92.00M | -$69.00M | |
YoY Change | 33.33% | 6.29% | |
Income Tax | $0.00 | $2.000M | |
% Of Pretax Income | |||
Net Earnings | -$92.00M | -$71.00M | |
YoY Change | 29.58% | 9.37% | |
Net Earnings / Revenue | -191.67% | -221.88% | |
Basic Earnings Per Share | -$1.00 | -$0.94 | |
Diluted Earnings Per Share | -$1.00 | -$0.95 | |
COMMON SHARES | |||
Basic Shares Outstanding | 91.51M shares | 91.43M shares | 74.50M |
Diluted Shares Outstanding | 91.40M shares | 74.60M shares |
Balance Sheet
Concept | 2024 Q4 | 2024 Q3 | 2023 Q3 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $1.089B | $799.0M | |
YoY Change | 36.3% | -23.82% | |
Cash & Equivalents | $201.0M | $184.0M | |
Short-Term Investments | $888.0M | $615.0M | |
Other Short-Term Assets | $17.00M | $27.00M | |
YoY Change | -37.04% | 24.86% | |
Inventory | |||
Prepaid Expenses | |||
Receivables | $21.00M | $56.00M | |
Other Receivables | $0.00 | $0.00 | |
Total Short-Term Assets | $1.127B | $882.0M | |
YoY Change | 27.78% | -19.9% | |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $48.00M | $50.00M | |
YoY Change | -4.0% | 47.53% | |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | $2.000M | $151.0M | |
YoY Change | -98.68% | 5.49% | |
Other Assets | $75.00M | $108.0M | |
YoY Change | -30.56% | 919.06% | |
Total Long-Term Assets | $125.0M | $309.0M | |
YoY Change | -59.55% | 5.57% | |
TOTAL ASSETS | |||
Total Short-Term Assets | $1.127B | $882.0M | |
Total Long-Term Assets | $125.0M | $309.0M | |
Total Assets | $1.252B | $1.191B | |
YoY Change | 5.12% | -14.55% | |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $13.00M | $17.00M | |
YoY Change | -23.53% | 61.2% | |
Accrued Expenses | $97.00M | $72.00M | |
YoY Change | 34.72% | 250.74% | |
Deferred Revenue | $105.0M | $103.0M | |
YoY Change | 1.94% | -0.28% | |
Short-Term Debt | $0.00 | $0.00 | |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $215.0M | $200.0M | |
YoY Change | 7.5% | 12.88% | |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $47.00M | $0.00 | |
YoY Change | |||
Other Long-Term Liabilities | $136.0M | $145.0M | |
YoY Change | -6.21% | 796.94% | |
Total Long-Term Liabilities | $136.0M | $145.0M | |
YoY Change | -6.21% | 796.94% | |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $215.0M | $200.0M | |
Total Long-Term Liabilities | $136.0M | $145.0M | |
Total Liabilities | $351.0M | $345.0M | |
YoY Change | 1.74% | -50.37% | |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$1.038B | -$768.0M | |
YoY Change | 35.16% | 61.72% | |
Common Stock | $1.602B | $1.291B | |
YoY Change | 24.09% | 18442757.14% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $565.0M | $520.0M | |
YoY Change | |||
Total Liabilities & Shareholders Equity | $1.252B | $1.191B | |
YoY Change | 5.12% | -14.55% |
Cashflow Statement
Concept | 2024 Q4 | 2024 Q3 | 2023 Q3 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$92.00M | -$71.00M | |
YoY Change | 29.58% | 9.37% | |
Depreciation, Depletion And Amortization | $2.000M | $1.000M | |
YoY Change | 100.0% | -35.9% | |
Cash From Operating Activities | $26.00M | -$63.00M | |
YoY Change | -141.27% | -22.18% | |
INVESTING ACTIVITIES | |||
Capital Expenditures | $1.000M | $10.00M | |
YoY Change | -90.0% | -858.73% | |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | -$28.00M | $21.00M | |
YoY Change | -233.33% | -15.2% | |
Cash From Investing Activities | -$29.00M | $11.00M | |
YoY Change | -363.64% | -53.08% | |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 48.00M | 6.000M | |
YoY Change | 700.0% | 137.06% | |
NET CHANGE | |||
Cash From Operating Activities | 26.00M | -63.00M | |
Cash From Investing Activities | -29.00M | 11.00M | |
Cash From Financing Activities | 48.00M | 6.000M | |
Net Change In Cash | 45.00M | -46.00M | |
YoY Change | -197.83% | -16.34% | |
FREE CASH FLOW | |||
Cash From Operating Activities | $26.00M | -$63.00M | |
Capital Expenditures | $1.000M | $10.00M | |
Free Cash Flow | $25.00M | -$73.00M | |
YoY Change | -134.25% | -8.34% |
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us-gaap |
Interest Expense Nonoperating
InterestExpenseNonoperating
|
2000000 | usd | |
CY2024Q3 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
13000000 | usd |
CY2024Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-92000000 | usd |
CY2024Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | usd |
CY2024Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-92000000 | usd |
CY2024Q3 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-1.00 | |
us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-2.11 | ||
us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-3.07 | ||
CY2023Q3 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
74600000 | shares |
us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
89600000 | shares | |
CY2024Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-92000000 | usd |
CY2024Q3 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
2000000 | usd |
CY2024Q3 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-90000000 | usd |
CY2024Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
201000000 | usd |
CY2024Q3 | us-gaap |
Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
|
888000000 | usd |
CY2024Q3 | us-gaap |
Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
|
16000000 | usd |
CY2024Q3 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
22000000 | usd |
CY2024Q3 | us-gaap |
Assets Current
AssetsCurrent
|
1127000000 | usd |
CY2024Q3 | us-gaap |
Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
|
2000000 | usd |
CY2024Q3 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
48000000 | usd |
CY2024Q3 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
75000000 | usd |
CY2024Q3 | us-gaap |
Assets
Assets
|
1252000000 | usd |
CY2024Q3 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
13000000 | usd |
CY2024Q3 | us-gaap |
Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
|
105000000 | usd |
CY2024Q3 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
97000000 | usd |
CY2024Q3 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
215000000 | usd |
CY2024Q3 | us-gaap |
Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
|
289000000 | usd |
CY2024Q3 | us-gaap |
Long Term Debt
LongTermDebt
|
47000000 | usd |
CY2023Q4 | us-gaap |
Long Term Debt
LongTermDebt
|
0 | usd |
CY2024Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.0001 | |
CY2024Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
400000000.0 | shares |
CY2024Q3 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
91500000 | shares |
CY2023Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
75500000 | shares |
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 |
CY2023Q3 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
5000000 | usd |
CY2023Q3 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
18000000 | 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 |
CY2024Q3 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
19000000 | usd |
CY2024Q3 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
2000000 | usd |
CY2024Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-92000000 | usd |
CY2024Q3 | us-gaap |
Stockholders Equity
StockholdersEquity
|
565000000 | usd |
us-gaap |
Profit Loss
ProfitLoss
|
-189000000 | usd | |
us-gaap |
Profit Loss
ProfitLoss
|
-226000000 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
59000000 | usd | |
us-gaap |
Share Based Compensation
ShareBasedCompensation
|
55000000 | usd | |
us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
7000000 | usd | |
us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
5000000 | usd | |
us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
5000000 | usd | |
us-gaap |
Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
|
6000000 | 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
|
19000000 | usd | |
us-gaap |
Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
|
13000000 | usd | |
us-gaap |
Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
|
2000000 | usd | |
us-gaap |
Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
|
-32000000 | usd | |
us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
-16000000 | usd | |
us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-2000000 | usd | |
us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
-14000000 | usd | |
us-gaap |
Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
|
13000000 | usd | |
us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-70000000 | usd | |
us-gaap |
Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
|
871000000 | usd | |
rcus |
Proceeds From Maturity Of Marketable Securities
ProceedsFromMaturityOfMarketableSecurities
|
726000000 | usd | |
rcus |
Proceeds From Sale Of Marketable Securities
ProceedsFromSaleOfMarketableSecurities
|
15000000 | usd | |
us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
5000000 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-135000000 | usd | |
us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
166000000 | usd | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
228000000 | usd | |
us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
25000000 | usd | |
us-gaap |
Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
|
47000000 | usd | |
us-gaap |
Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
|
0 | usd | |
us-gaap |
Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
|
6000000 | usd | |
us-gaap |
Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
|
5000000 | usd | |
us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
2000000 | 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
|
279000000 | usd | |
us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
30000000 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
74000000 | usd | |
us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-22000000 | 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 |
CY2024Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
204000000 | usd |
us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
0 | usd | |
us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
6000000 | 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 September 30, 2024, we had cash, cash equivalents and marketable securities of $1.1 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 Reportable Segments
NumberOfReportableSegments
|
1 | segment | |
us-gaap |
Number Of Operating Segments
NumberOfOperatingSegments
|
1 | segment | |
CY2024Q3 | us-gaap |
Investments And Cash
InvestmentsAndCash
|
1100000000 | usd |
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> | ||
CY2024Q3 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
48000000 | usd |
CY2023Q3 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
32000000 | usd |
us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
232000000 | usd | |
us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
86000000 | usd | |
CY2024Q3 | us-gaap |
Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
|
33000000 | usd |
CY2023Q3 | us-gaap |
Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
|
28000000 | usd |
us-gaap |
Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
|
212000000 | usd | |
us-gaap |
Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
|
79000000 | usd | |
CY2024Q3 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
394000000 | usd |
CY2023Q4 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
398000000 | 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 |
rcus |
Contract With Customer Liability Cumulative Catch Up Adjustment To Revenue Earnings Per Share Basic
ContractWithCustomerLiabilityCumulativeCatchUpAdjustmentToRevenueEarningsPerShareBasic
|
1.19 | ||
rcus |
Contract With Customer Liability Cumulative Catch Up Adjustment To Revenue Earnings Per Share Diluted
ContractWithCustomerLiabilityCumulativeCatchUpAdjustmentToRevenueEarningsPerShareDiluted
|
1.19 | ||
CY2024Q1 | rcus |
Option Payment For Domvanalimab
OptionPaymentForDomvanalimab
|
87000000 | usd |
CY2024Q1 | rcus |
Option Payment Received For Etrumadenant
OptionPaymentReceivedForEtrumadenant
|
100000000 | usd |
CY2024Q1 | rcus |
Deferred Revenues At Amendment Closing Date
DeferredRevenuesAtAmendmentClosingDate
|
335000000 | usd |
CY2024Q1 | rcus |
Option Payment Received For Etrumadenant
OptionPaymentReceivedForEtrumadenant
|
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
|
3000000 | usd | |
us-gaap |
Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
|
1000000 | usd | |
CY2023Q4 | us-gaap |
Contract With Customer Asset Net
ContractWithCustomerAssetNet
|
3000000 | usd |
CY2024Q3 | us-gaap |
Contract With Customer Asset Net
ContractWithCustomerAssetNet
|
3000000 | usd |
CY2023Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
2000000 | usd |
us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
5000000 | usd | |
CY2023Q3 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.024 | |
us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.022 | ||
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
18700000 | shares | |
us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
15800000 | shares | |
CY2024Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
19000000 | usd |
CY2023Q3 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
18000000 | usd |
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
59000000 | usd | |
us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
55000000 | usd | |
CY2024Q3 | us-gaap |
Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
|
1090000000 | usd |
CY2024Q3 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
|
1000000 | usd |
CY2024Q3 | us-gaap |
Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
|
0 | usd |
CY2024Q3 | us-gaap |
Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
|
1091000000 | 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 |
CY2024Q3 | us-gaap |
Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
|
201000000 | usd |
CY2023Q4 | us-gaap |
Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
|
127000000 | usd |
CY2024Q3 | us-gaap |
Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
|
888000000 | usd |
CY2023Q4 | us-gaap |
Available For Sale Securities Debt Securities Current
AvailableForSaleSecuritiesDebtSecuritiesCurrent
|
632000000 | usd |
CY2024Q3 | us-gaap |
Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
|
2000000 | usd |
CY2023Q4 | us-gaap |
Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
|
107000000 | usd |
CY2024Q3 | rcus |
Cash Cash Equivalents And Available For Sale Investments
CashCashEquivalentsAndAvailableForSaleInvestments
|
1091000000 | usd |
CY2023Q4 | rcus |
Cash Cash Equivalents And Available For Sale Investments
CashCashEquivalentsAndAvailableForSaleInvestments
|
866000000 | usd |
CY2024Q3 | us-gaap |
Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
|
21 | position |
CY2023Q4 | us-gaap |
Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
|
105 | position |
CY2024Q3 | us-gaap |
Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
|
0 | usd |
CY2023Q3 | us-gaap |
Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
|
0 | usd |
CY2023 | 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 | |
CY2024Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
201000000 | usd |
CY2023Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
184000000 | usd |
CY2024Q3 | us-gaap |
Restricted Cash Noncurrent
RestrictedCashNoncurrent
|
3000000 | usd |
CY2023Q3 | us-gaap |
Restricted Cash Noncurrent
RestrictedCashNoncurrent
|
3000000 | usd |
CY2024Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
204000000 | usd |
CY2023Q3 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
187000000 | usd |
CY2024Q3 | rcus |
Prepaid Expenses And Other Current Assets
PrepaidExpensesAndOtherCurrentAssets
|
17000000 | usd |
CY2023Q4 | rcus |
Prepaid Expenses And Other Current Assets
PrepaidExpensesAndOtherCurrentAssets
|
30000000 | usd |
CY2024Q3 | us-gaap |
Interest Receivable Current
InterestReceivableCurrent
|
5000000 | usd |
CY2023Q4 | us-gaap |
Interest Receivable Current
InterestReceivableCurrent
|
4000000 | usd |
CY2024Q3 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
22000000 | usd |
CY2023Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
34000000 | usd |
CY2024Q3 | rcus |
Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
|
57000000 | usd |
CY2023Q4 | rcus |
Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
|
36000000 | usd |
CY2024Q3 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
27000000 | usd |
CY2023Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
26000000 | usd |
CY2024Q3 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
11000000 | usd |
CY2023Q4 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
11000000 | usd |
CY2024Q3 | us-gaap |
Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
|
2000000 | usd |
CY2023Q4 | us-gaap |
Other Sundry Liabilities Current
OtherSundryLiabilitiesCurrent
|
3000000 | usd |
CY2024Q3 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
97000000 | usd |
CY2023Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
76000000 | usd |
CY2024Q3 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
50000000 | usd |
CY2023Q4 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
0 | usd |
CY2024Q3 | us-gaap |
Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
|
3000000 | usd |
CY2023Q4 | us-gaap |
Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
|
0 | usd |
CY2024Q3 | us-gaap |
Long Term Debt
LongTermDebt
|
47000000 | usd |
CY2023Q4 | us-gaap |
Long Term Debt
LongTermDebt
|
0 | usd |
us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
1000000 | usd | |
CY2024Q3 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
1000000 | usd |
CY2024Q3 | us-gaap |
Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
|
0.1339 | |
rcus |
Cash Paid For Amounts Included In Measurement Of Lease Liabilities
CashPaidForAmountsIncludedInMeasurementOfLeaseLiabilities
|
12000000 | usd | |
rcus |
Cash Paid For Amounts Included In Measurement Of Lease Liabilities
CashPaidForAmountsIncludedInMeasurementOfLeaseLiabilities
|
12000000 | usd | |
rcus |
Cash Received From Tenant Improvement Allowances
CashReceivedFromTenantImprovementAllowances
|
0 | usd | |
rcus |
Cash Received From Tenant Improvement Allowances
CashReceivedFromTenantImprovementAllowances
|
8000000 | usd | |
rcus |
Recognition Of Tenant Improvement Allowance Receivable
RecognitionOfTenantImprovementAllowanceReceivable
|
0 | usd | |
rcus |
Recognition Of Tenant Improvement Allowance Receivable
RecognitionOfTenantImprovementAllowanceReceivable
|
4000000 | usd | |
CY2024Q1 | us-gaap |
Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
|
20000000 | usd |
us-gaap |
Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
|
20000000 | usd | |
CY2024Q3 | us-gaap |
Security Deposit
SecurityDeposit
|
3000000 | usd |
CY2023Q4 | us-gaap |
Security Deposit
SecurityDeposit
|
3000000 | usd |
CY2024Q3 | ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | |
CY2024Q3 | ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false | |
CY2024Q3 | ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false |