RCUS (Arcus Biosciences Inc.) stock: $25.24, $3.21B market cap, $702.0M cash, $2.61B EV, $3.21B fully diluted market cap. Next expected readout: Nov-26. Lead program: Casdatifan (Metastatic Clear Cell Renal Cell Carcinoma), Phase 3. Data from Fully Diluted's biotech stocks database.
Enterprise value
$2,612.9M
Balance sheet
| Cash | $702.0M |
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| Debt | $101.0M |
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| Net cash | $601.0M |
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| Enterprise value | $2,612.9M |
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| Basic shares | 127.0M shares |
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| Fully diluted shares | 127.3M shares |
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| Fully diluted market cap | $3,213.9M |
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| Cash per share | $5.53 |
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Cash figures as of 2026-06-30. Database snapshot: 2026-09-21.
Price history
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Upcoming catalysts
| Expected | Drug | Phase | Indication | Mgmt guide |
|---|
| Sep 21 - Nov 2 | Durvalumab | Phase 3 | Non-Small Cell Lung Cancer | — |
| Dec 13, 2026 - Jan 24, 2027 | AB801 | Phase 1 | Advanced Cancer | — |
| Jan 12 - Feb 23 | AB102 | Phase 1 | Healthy Volunteers | — |
| Feb 12 - Mar 26 | Domvanalimab | Phase 2 | Gastrointestinal Tract Malignancies | — |
| Mar 12 - Apr 23 | Volrustomig | Phase 1 | Advanced Clear Cell Renal Cell Carcinoma | — |
| Apr 12 - May 24 | Domvanalimab | Phase 2 | Head and Neck Squamous Cell Carcinoma | — |
| Jun 12 - Jul 24 | Domvanalimab | Phase 2 | Non Small Cell Lung Cancer; Nonsquamous Non Small Cell Lung Cancer; Squamous Non Small Cell Lung Cancer | — |
| Jun 12 - Jul 24 | Casdatifan | Phase 1 | Healthy Participants; Hepatic Impairment | — |
| Oct 13 - Nov 24 | AB598 | Phase 1 | Advanced Cancer; Advanced Malignancies; Bladder Cancer | — |
| Jan 12 - Feb 23 | Domvanalimab | Phase 2 | Advanced Non-Small Cell Lung Cancer | — |
| May 13 - Jun 24 | Casdatifan | Phase 3 | Metastatic Clear Cell Renal Cell Carcinoma; Advanced Clear Cell Renal Cell Carcinoma | — |
| Jul 13 - Aug 24 | Zimberelimab | Phase 3 | Non-small Cell Lung Cancer | — |
| Apr 12 - May 24 | casdatifan | Phase 1 | Clear Cell Renal Cell Carcinoma; Solid Tumors | — |
| Oct 13 - Nov 24 | Zimberelimab (ZIM) | Phase 2 | Lung Cancer; Advanced or Metastatic Non-Small-Cell Lung Cancer; Resectable Non-Small-Cell Lung Cancer | — |
| Jan 11 - Feb 22 | Quemliclustat | Phase 3 | Metastatic Pancreatic Ductal Adenocarcinoma | — |
Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.
Full readout calendar →
Pipeline assets
Casdatifan
Phase 3 · Active Modality: small molecule (HIF-2α inhibitor)
Target HIF-2α
Partnerships Wholly owned by Arcus; Taiho holds exclusive licenses in Japan and certain other Asian countries (ex-China). Jul 2026 clinical trial collaboration with Summit Therapeutics and clinical supply agreement with AVEO Oncology for ARC-20 combination cohorts.
Indications- Clear cell renal cell carcinoma (ccRCC) (Phase 3)
Status note Oral small-molecule HIF-2α inhibitor moved to late-stage development in Q3 2025. Phase 3 registrational studies ongoing for ccRCC; ARC-20 Phase 1/1b platform study evaluating monotherapy and combinations (including cabozantinib, ivonescimab, tivozanib cohorts). Company is increasing investment and winding down domvanalimab studies in favor of casdatifan.
Domvanalimab
Phase 3 · Terminated Modality: monoclonal antibody (anti-TIGIT)
Target TIGIT
Partnerships Licensed to Gilead (2021 amendment; exclusive licenses for certain markets; up to $500M in U.S. regulatory approval milestones). AstraZeneca collaboration on PACIFIC-8. Company solely funding Phase 3 PACIFIC-8 wind-down.
Indications- Metastatic NSCLC (1L, with zimberelimab + chemotherapy) (Stage not disclosed)
- Unresectable Stage III NSCLC (with durvalumab) (Stage not disclosed)
Status note Phase 3 STAR-121 (domvanalimab + zimberelimab + chemotherapy vs pembrolizumab + chemotherapy in 1L metastatic NSCLC) discontinued Apr 2026 for futility. Phase 3 PACIFIC-8 (domvanalimab + durvalumab vs durvalumab alone in PD-L1+ Stage III unresectable NSCLC) discontinued Aug 2026. Company winding down domvanalimab studies and streamlining R&D operations.
Quemliclustat
Phase 3 · Active Modality: small molecule (CD73 inhibitor)
Target CD73
Partnerships Licensed to Gilead (2021 amendment; exclusive licenses for certain markets; mid-teens to low-twenties royalties). Arcus operationalizes and funds Phase 3 PRISM-1 subject to Gilead's right to reinstate upon regulatory approval.
Indications- Pancreatic cancer (PRISM-1) (Phase 3)
Status note CD73 program; Phase 3 PRISM-1 study in pancreatic cancer completed enrollment. Developed under the Gilead collaboration.
Zimberelimab
Phase 3 · Terminated Modality: monoclonal antibody (anti-PD-1)
Target PD-1
Partnerships Licensed to Gilead (exclusive license for certain markets; high-teens to low-twenties royalties; Taiho licenses for Taiho Territory).
Indications- Oncology (1L metastatic NSCLC) (Stage not disclosed)
Status note Anti-PD-1 program evaluated in combination with domvanalimab and chemotherapy in the Phase 3 STAR-121 study, discontinued Apr 2026 for futility. Gilead holds exclusive licenses in certain markets.
Etrumadenant
Stage not disclosed · Active Modality: small molecule (adenosine receptor antagonist)
Target adenosine receptors
Partnerships Gilead returned its license to the adenosine receptor antagonist program in Q2 2025; Taiho retains licenses for the Taiho Territory.
Indications- Oncology (Stage not disclosed)
Status note Adenosine receptor antagonist program; Gilead returned its license in Q2 2025. Clinical phase and current development status not disclosed in the excerpts.
AXL inhibitor program
Stage not disclosed · Active Modality: small molecule (AXL inhibitor)
Aliases AB801
Target AXL
Partnerships Gilead holds a time-limited option to license (expires after achievement of a clinical development milestone and data-package delivery; $150M option fee).
Indications- Oncology (Stage not disclosed)
Status note Investigational small molecule AXL inhibitor. Clinical phase not disclosed in the excerpts.
CD39 program
Stage not disclosed · Active Modality: monoclonal antibody (anti-CD39)
Aliases AB598
Target CD39
Partnerships Gilead holds a time-limited option to license (same terms as AB801; $150M option fee).
Indications- Oncology (Stage not disclosed)
Status note Investigational anti-CD39 monoclonal antibody. Clinical phase not disclosed in the excerpts.
Per-asset detail extracted from the 10-Q filed 2026-08-05. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.