Arcus Biosciences Inc (RCUS)
🔔 Watch stock
symbol.quality_heading
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
The red distress scanner deceives here: no acute bankruptcy risk, but a well-financed research lab with a billion in cash into at least 2028 and a strong partner. Caution is nonetheless warranted, because the value hangs on binary trial results (PEAK-1, STAR-121) and on the dependence on Gilead — a disappointing Phase 3 result can move the price within hours many times more than any balance-sheet metric, and the losses continue to be financed through new shares. The decision is yours.
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Arcus builds drugs meant to teach the immune system to recognize cancer cells again — and the stock is a market darling: up 234 percent in a year, close to its 52-week high. Yet it blinks in our warning scanner "Going Concern (Distress-Proxy)". We read the annual report (10-K) for 2025 and the quarterly report (10-Q) as of March 31, 2026: not a cent of product revenue, $1.5 billion in accumulated losses — but also about $1.0 billion in cash, no doubt from the auditor about the company's survival, and in Gilead a billion-dollar partner that owns a quarter of the firm. Not investment advice — just an honest look in the till behind the red warning light.
Read the analysis
Stock Watch
This analysis is as of July 15, 2026. Stock Watch will tell you what's changed at RCUS since then.
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Appears in These Scanners
This stock currently matches 20 of our scanner strategies — each hit links to the scanner.
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. Scanners marked in red are red-flag signals (risk/short scanners) — appearing there is not a seal of approval. View all scanners
Trading Day
Key levels of the most recently completed trading day — not a live quote.
52-Week Range
Current price 28.20 $ — 87% of the range above the low.
Lowest and highest closing price over the last 52 weeks. The marker shows where the current price sits within that range: close to the high speaks for strength, close to the low for weakness.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 08/03/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
AI Rating
NeutralGeprüft am 14.07.2026 gegen den Geschäftsbericht (10-K) 2025 (eingereicht 25.02.2026), den 10-K 2024 sowie die vier jüngsten Quartalsberichte (10-Q). In den ausgewerteten SEC-Filings von Arcus Biosciences findet sich kein wesentlicher KI-Bezug im Sinne des Kriterienkatalogs. Das Geschäftsmodell ist klinische Immunonkologie (HIF-2-alpha-, TIGIT-, PD-1-, CD73-Programme); KI ist weder Umsatzquelle noch dokumentierter operativer Einsatz noch ein konkretes, aufs eigene Modell bezogenes Geschäftsrisiko. Die einzigen drei Nennungen von „artificial intelligence“ bzw. „machine learning“ im 10-K 2025 sind generische Floskeln: (1) im Cybersecurity-Abschnitt („threat actors use techniques and tools – including artificial intelligence – that circumvent security controls“), (2) im Datenschutz-/Vertraulichkeits-Kontext zur Nutzung generativer KI durch Mitarbeiter und (3) im Zusammenhang mit Datenschutzgesetzen einzelner US-Bundesstaaten, die Algorithmen und maschinelles Lernen adressieren. Keine davon stützt „verkauft“, „nutzt“ oder „bedroht“ — nach der Vorrang-Regel bleibt es damit bei „neutral“ (dokumentierter Negativ-Befund; Boilerplate-Risk-Floskeln zählen laut Skill nicht als Bedroht-Beleg).
View the full file — quotes, sources, reviewed filings
Filings Reviewed: 10-K 2026-02-25 · 10-K 2025-02-25 · 10-Q 2026-05-05 · 10-Q 2025-10-28 · 10-Q 2025-08-06 · 10-Q 2025-05-06
Rated on July 14, 2026 · How the Rating Is Built
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Analysts & Price Target
The price target sits 30.6% above the current price.
- Consensus
- Sell
- Analyst Ratings
- 13
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | -3.48 | -4.88 – -2.63 | 85 | -5.9% | 7 |
| 12/31/2027 | -3.10 | -4.55 – -1.55 | 93 | 10.9% | 7 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Next Reporting Date
- Expected Earnings per Share
- -1.01 $
Expected date of the next quarterly or annual figures. Dates do shift occasionally — only the invitation issued by the company is binding.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
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· Total · per year
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The figures could not be loaded right now.
Source: fundamental data
Quarterly Figures
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | -1.03 | – | 26 | -16.10 | -361.50 | -100 | -101 |
| 2025: Q1 | -1.14 | – | 28 | -80.70 | -400.00 | -132 | -133 |
| 2025: Q2 | -0.08 | – | 160 | 310.30 | -5.00 | -133 | -133 |
| 2025: Q3 | -1.27 | – | 26 | -45.80 | -519.20 | -97 | -97 |
| 2025: Q4 | -0.91 | – | 33 | 26.90 | -297.00 | -120 | -121 |
| 2026: Q1 | -1.02 | – | 17 | -39.30 | -752.90 | -138 | -138 |
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Annual Figures
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 0 | -18 | -18 | -0.73 | -13 | 99 | 110 |
| 2017 | 1 | -53 | -53 | -2.16 | -25 | 154 | 190 |
| 2018 | 8 | -55 | -50 | -1.43 | -43 | 235 | 275 |
| 2019 | 15 | -89 | -76 | -1.73 | -73 | 164 | 203 |
| 2020 | 78 | -124 | -123 | -2.25 | 111 | 502 | 772 |
| 2021 | 383 | 54 | 53 | 0.72 | -256 | 841 | 1,592 |
| 2022 | 112 | -280 | -267 | -3.71 | 438 | 657 | 1,345 |
| 2023 | 117 | -340 | -307 | -4.15 | -306 | 462 | 1,095 |
| 2024 | 258 | -330 | -283 | -3.14 | -170 | 485 | 1,150 |
| 2025 | 247 | -386 | -353 | -3.29 | -482 | 631 | 1,139 |
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Assessment: Opportunities & Risks
About $1.0 billion in cash and securities (December 31, 2025), runway per the annual report into at least the second half of 2028, no going-concern qualification, low debt (debt-to-equity about 0.2), positive equity. For a clinical biotech, a comfortable starting position.
No product revenue, net loss $353 million (2025), accumulated deficit $1.5 billion, operating cash outflow risen to a record $482 million. Fundamental rating D, Piotroski 0 of 9, Altman Z around 1.03 — precisely what triggers the distress proxy.
Gilead Sciences holds about 25.1 percent, appoints three board members and supplies almost all revenue through collaboration and option payments ($214 of $247 million in 2025). Backbone and cluster risk in one: if Gilead passes on a program, money and experience are missing — and the market reads that as a warning signal.
Broad pipeline with lead compound casdatifan (HIF-2-alpha, renal cell cancer, peak-sales opportunity per the 10-K of more than $2 billion), domvanalimab (TIGIT, Phase 3 lung cancer), zimberelimab and quemliclustat. The value hangs on binary trial results (including PEAK-1, STAR-121) that no one can predict with certainty.
Intact uptrend (Stage 2), RS rating 93, only 3.8 percent below the 52-week high, plus 234 percent over twelve months, about 72 percent institutional ownership (data as of July 8, 2026). A clear momentum vote — that likewise hangs on the next trial data.
Arcus is the teaching case for why a warning-scanner hit is not the same as a restructuring case. The "Going Concern (Distress-Proxy)" triggers because the company earns no profit and burns cash — for a clinical biotech without product revenue the normal state. Behind it, however, stand about $1.0 billion in cash, no going-concern qualification, little debt and, in Gilead, a billion-dollar partner that holds a quarter. The real risk lies not in the balance sheet, but in the clinic and in the dependence on this one partner. Not investment advice.
- The "revenue" of Arcus consists almost entirely of collaboration and option payments (above all from Gilead, plus the partner Taiho) and therefore fluctuates with contract milestones, not with product demand — Arcus has no approved product.
- The scanner hit "Going Concern (Distress-Proxy)" is by definition a quantitative approximation and not an auditor qualification; the auditor did not cast doubt on the survival of Arcus.
- Price, valuation and scanner figures are dated to July 8, 2026 (about $30, about $3.8 billion in market value); analyses are evergreen, daily prices are not a buy argument.
About the Company
Arcus Biosciences, Inc., ein biopharmazeutisches Unternehmen im klinischen Stadium, entwickelt und vermarktet Krebstherapien in den USA.
| CEO Insider Trades (12 Mo.) | selling own stock |
|---|---|
| Employees | 601 |
| Headquarters | Hayward, CA |
| Address | 3928 Point Eden Way, 94545 Hayward, United States |
| Phone | 510 694 6200 |
| Website | arcusbio.com |
| IPO Date | 15. Mar 2018 |
| ISIN | US03969F1093 |
Management
| Name | Title | Birth Year |
|---|---|---|
| Terry J. Rosen Ph.D. | Co-Founder, Chairman & CEO | 1960 |
| Juan Carlos Jaen Ph.D. | Co- Founder & President | 1958 |
| Robert C. Goeltz II | Principal Financial Officer & CFO | 1973 |
| Richard A. Markus M.D., Ph.D. | Chief Medical Officer | – |
| K. Christopher Garcia Ph.D. | Co-Founder & Member of Scientific Advisory Board | – |
| Alexander Azoy CPA | Chief Accounting Officer | 1976 |
| Jonathan Yingling Ph.D. | Chief Scientific Officer | 1969 |
| Pia Eaves | Vice President of Investor Relations & Strategy | – |
| Carolyn C. Tang J.D. | General Counsel & Corporate Secretary | 1979 |
| Holli Kolkey | Vice President of Corporate Communications | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Insider Transactions
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| 10. Jul 2026 | Jaen Juan C. | President | Sell | 268 | 29.40 | 7,878 |
| 10. Jul 2026 | Jaen Juan C. | President | Sell | 19,799 | 28.61 | 566,410 |
| 9. Jul 2026 | Jaen Juan C. | President | Sell | 48,502 | 30.05 | 1,457,631 |
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
View all insider transactions →Chart
Interactive price chart (TradingView).
Data as of: July 31, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.