Arcus Biosciences (RCUS)
Develops small-molecule and antibody therapies for cancer and inflammatory diseases.
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Develops small-molecule and antibody therapies for cancer, led by late-stage casdatifan in kidney cancer and quemliclustat in pancreatic cancer, while advancing oral inflammation programs. With no approved products, revenue comes from research, licensing, and collaborations; partnered programs share development or territorial rights with Gilead and Taiho.
Develops small-molecule and antibody therapies for cancer while building an oral-drug pipeline for inflammatory and autoimmune diseases. The oncology portfolio centers on casdatifan, a HIF-2α inhibitor in late-stage kidney-cancer trials, and quemliclustat, a CD73 inhibitor in a registrational pancreatic-cancer study. Zimberelimab supports combination regimens; AB598 and AB801 extend the earlier-stage pipeline.
Uses internal small-molecule discovery and partner-supplied medicines to test combinations across global clinical programs. No product is approved, so revenue comes from research, licensing, and collaboration arrangements rather than product sales. Casdatifan is owned globally except for rights licensed to Taiho in Japan and other Asian markets outside China. Gilead retains commercialization rights for partnered programs outside the United States, while the domvanalimab program is being wound down.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 16, 2026 | Cowen & Co. | Initiate | Rating: — | |
| Sep 8, 2026 | Truist Financial | Target | Target: $35 | Target: $40 |
| Aug 10, 2026 | Morgan Stanley | Target | Target: $22 | Target: $23 |
| Aug 7, 2026 | Goldman Sachs | Reiterate | Rating: —Target: $28 | Target: $42 |
| Aug 6, 2026 | Wedbush | Reiterate | Rating: —Target: $35 | Target: $43 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $702.0M · Total debt $114.0M · Total assets $924.0M · Shareholders' equity $464.0M
- Revenue
- $41.0M
- Operating income
- −$96.0M
- Net income
- −$91.0M
No dividends on record.
| Institutions | 97.08% | 123.62M shares | |
|---|---|---|---|
| 240 holders · as of Jun 30, 2026 | |||
| Insiders | 4.50% | 5.73M shares | |
| 14 holders · as of Aug 24, 2026 | |||
| Strategic holders | 0.07% | 87.5K shares | |
| 1 holder · as of Dec 17, 2024 | |||
| Adds to | 101.65% | ||
127.33M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
These groups come from separate filings that can overlap, so they add to 101.65%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Gilead Sciences, Inc.Institution | 24.68% | 31.42M | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 12.89% | 16.42M | as of Jun 30, 2026 |
State Street CorpInstitution | 4.74% | 6.03M | as of Jun 30, 2026 |
Wellington Management Group LLPInstitution | 4.63% | 5.90M | as of Jun 30, 2026 |
Suvretta Capital Management, LLCInstitution | 3.75% | 4.78M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 21, 2026 | Alexander Azoy | officer: Chief Accounting Officer | −2,827 | $30.00 |
| Jul 10, 2026 | Juan C. Jaen | officer: President | −20,067 | $28.62 |
| Jul 9, 2026 | Juan C. Jaen | officer: President | −48,502 | $30.05 |
| Jun 24, 2026 | Juan C. Jaen | officer: President | −6,431 | $29.66 |
| Jun 23, 2026 | Juan C. Jaen | officer: President | −15,764 | $27.73 |
- Merck
Dominant PD-1 franchise and the only approved HIF-2α inhibitor in ccRCC.
- AstraZeneca (ADR)
Rilvegostomig (anti-TIGIT/PD-1 bispecific, Phase 3) and Imfinzi compete in NSCLC
- Bristol-Myers Squibb
Broad IO franchise (Opdivo/Yervoy) in NSCLC and GI; TIGIT program stalled.
- BeOne Medicines (ADR)
Tevimbra (tislelizumab) anti-PD-1 backbone; TIGIT ociperlimab discontinued 2025
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Arcus Biosciences | $26.13 | +0.67% | $3.26B | — | — | 27.9 | −74.4% |
| Merck | $150.88 | +0.92% | $369.24B | 119.6 | 17.5 | 5.6 | +5.1% |
| AstraZeneca (ADR) | $167.85 | −0.15% | $260.70B | 25.2 | 15.8 | 4.2 | +6.4% |
| Bristol-Myers Squibb | $62.70 | +0.13% | $127.91B | 13.8 | 9.8 | 2.6 | +5.7% |
| BeOne Medicines (ADR) | $361.01 | −1.27% | $39.07B | 5.1 | 45.7 | 6.4 | +29.6% |
| Median | 19.5 | 16.6 | 4.9 | +6.1% |