Arcus Biosciences, Inc. (RCUS): Modelo de Negocio Canvas [Actualizado en Ene-2025]

En el panorama dinámico de la inmunoterapia contra el cáncer, Arcus Biosciences, Inc. (RCU) emerge como una fuerza pionera, transformando los límites de la innovación médica a través de su innovador lienzo modelo de negocios. Al aprovechar estratégicamente las asociaciones colaborativas, las capacidades de investigación de vanguardia y un enfoque centrado en el láser para la inmuno-oncología, Arcus está redefiniendo cómo las empresas de biotecnología desarrollan soluciones terapéuticas dirigidas que tienen el potencial de revolucionar el tratamiento del cáncer y abordar las necesidades médicas críticas no hechas.

Arcus Biosciences, Inc. (RCU) - Modelo de negocios: asociaciones clave

Colaboración estratégica con Gilead Sciences

En septiembre de 2020, Arcus Biosciences ingresó a una colaboración estratégica con Gilead Sciences valorada en $ 610 millones por adelantado. La asociación se centra en desarrollar inmunoterapias contra el cáncer dirigido a la vía de adenosina.

Detalles de la asociación	Valor financiero
Pago por adelantado	$ 610 millones
Pagos potenciales de hitos	Hasta $ 1.55 mil millones
Potencial de regalías	Porcentajes altos de un solo dígito a mediados de adolescencia

Asociaciones de investigación con instituciones académicas

Arcus Biosciences mantiene relaciones de investigación colaborativa con múltiples centros de investigación académica:

• Centro de Investigación del Cáncer de la Universidad de Stanford
• Universidad de California, Departamento de Inmunología de San Francisco
• Memorial Sloan Kettering Cancer Center

Acuerdos de licencia farmacéutica

Acuerdos actuales de licencia farmacéutica incluyen:

Pareja	Candidato a la droga	Etapa de desarrollo
Gilead Sciences	AB680 (inhibidor de CD73)	Ensayos clínicos de fase 1/2
Merck & Co.	AB154 (anticuerpo anti-Tígito)	Ensayos clínicos de fase 1/2

Colaboraciones del Centro de Investigación de Biotecnología

Las colaboraciones de investigación activa incluyen:

• Instituto Parker para la inmunoterapia con cáncer
• Instituto de Investigación del Cáncer Ludwig
• UCSF Helen Diller Family Family Center Cancer Cancer

Arcus Biosciences, Inc. (RCU) - Modelo de negocio: actividades clave

Investigación y desarrollo de drogas inmuno-oncológicas

Arcus Biosciences se centra en desarrollar nuevas terapias inmuno-oncológicas. A partir del cuarto trimestre de 2023, la compañía tenía 3 candidatos a medicamentos en etapa clínica en desarrollo.

Candidato a la droga	Etapa de desarrollo	Indicación objetivo
Zimberelimab	Fase 2/3	Cáncer de pulmón de células no pequeñas
Domvanalimab	Fase 2	Múltiples tumores sólidos
AB308	Preclínico	Tumores sólidos

Gestión de ensayos preclínicos y clínicos

La compañía invirtió $ 167.3 millones en gastos de I + D en 2022, lo que representa un compromiso significativo con el desarrollo clínico.

• Ensayos clínicos activos en múltiples indicaciones de oncología
• Colaboraciones continuas con instituciones de investigación académica y farmacéutica
• Infraestructura de gestión de ensayos clínicos robustos

Identificación y validación del objetivo molecular

Arcus Biosciences ha identificado y validado múltiples objetivos moleculares en inmuno-oncología.

Objetivo molecular	Clase objetivo	Estado de investigación
CD73	Enzima inmunosupresora	Validado
Receptor A2A	Punto de control inmune	Validado

Ingeniería de anticuerpos terapéuticos

La compañía ha desarrollado tecnologías patentadas de ingeniería de anticuerpos.

• Capacidades de desarrollo de anticuerpos monoclonales internos
• Plataformas avanzadas de ingeniería de proteínas
• Experiencia en el diseño de inhibidores del punto de control inmune

Optimización y detección de candidatos a fármacos

Arcus Biosciences mantiene un sofisticado proceso de detección de drogas con estrategias de optimización integrales.

Parámetro de detección	Acercarse
Selección de candidatos	Detección de alto rendimiento
Criterios de optimización	Eficacia, seguridad, farmacocinética
Volumen de detección anual	Aproximadamente 500-1000 candidatos moleculares

Arcus Biosciences, Inc. (RCUS) - Modelo de negocio: recursos clave

Instalaciones avanzadas de investigación de biotecnología

Arcus Biosciences opera una instalación de investigación de 43,000 pies cuadrados ubicada en Hayward, California. A partir del cuarto trimestre de 2023, la instalación alberga múltiples laboratorios de investigación con una inversión estimada de $ 24.7 millones en infraestructura de investigación.

Métrica de la instalación	Especificación
Espacio total de investigación	43,000 pies cuadrados
Inversión en infraestructura	$ 24.7 millones
Ubicación	Hayward, California

Plataformas de tecnología de inmunoterapia patentadas

Arcus Biosciences mantiene 4 plataformas de tecnología de inmunoterapia primaria con 12 familias de patentes activas que protegen sus innovaciones tecnológicas.

• Plataforma de inmuno-oncología
• Tecnología de inhibidores de punto de control
• Plataforma de ingeniería de anticuerpos
• Plataforma de metabolismo del cáncer

Equipo de investigación y desarrollo científico calificado

A diciembre de 2023, Arcus Biosciences emplea a 187 profesionales de investigación y desarrollo con títulos avanzados.

Composición del equipo	Número
Empleados totales de I + D	187
Titulares de doctorado	103
Titulares de maestros	64

Cartera de propiedades intelectuales

Arcus Biosciences posee 12 familias de patentes con 47 patentes totales otorgadas a nivel mundial a partir del cuarto trimestre de 2023.

• 12 familias de patentes
• 47 patentes totales otorgadas
• Cobertura de patentes en Estados Unidos, Europa y Asia

Equipos e infraestructura de laboratorio especializados

La inversión de equipos por un total de $ 16.3 millones incluye instrumentos de investigación avanzados y plataformas de biotecnología.

Categoría de equipo	Inversión
Instrumentos de investigación	$ 9.6 millones
Plataformas de biotecnología	$ 6.7 millones
Inversión total en equipos	$ 16.3 millones

Arcus Biosciences, Inc. (RCUS) - Modelo de negocio: propuestas de valor

Soluciones innovadoras de inmunoterapia con cáncer

Arcus Biosciences se centra en el desarrollo de inmunoterapias de cáncer dirigidas con candidatos de productos específicos:

Candidato al producto	Área terapéutica	Etapa de desarrollo
Zimberelimab (AB122)	Inhibidor del punto de control anti-PD-1	Estadio clínico
Domvanalimab (AB154)	Anticuerpo anti-tígito	Estadio clínico

Enfoques terapéuticos dirigidos

La investigación clínica demuestra una eficacia potencial en múltiples tipos de cáncer:

• Cáncer de pulmón de células no pequeñas
• Cáncer de páncreas metastásico
• Cáncer colorrectal

Desarrollo de inhibidores del punto de control inmune novedoso

Inversiones de tuberías de investigación a partir de 2023:

Categoría de investigación	Monto de la inversión
Gasto de I + D	$ 189.4 millones
Financiación del ensayo clínico	$ 76.2 millones

Estrategias de tratamiento personalizadas

Enfoque de terapia combinada con asociaciones estratégicas clave:

• Colaboración con Gilead Sciences
• Centrado en el desarrollo de la inmunoterapia combinada
• Potencial para protocolos de tratamiento de cáncer personalizados

Abordar las necesidades médicas no satisfechas

Métricas de oportunidad de mercado:

Segmento de mercado	Valor potencial
Mercado de inmuno-oncología global	$ 152.8 mil millones para 2025
Necesidades de tratamiento del cáncer insatisfecho	Estimado del 40% de los pacientes

Arcus Biosciences, Inc. (RCUS) - Modelo de negocios: relaciones con los clientes

Compromiso directo con socios farmacéuticos

A partir del cuarto trimestre de 2023, Arcus Biosciences ha establecido asociaciones estratégicas con:

Pareja	Detalles de colaboración	Valor de la oferta
Gilead Sciences	Colaboración en investigación continua de investigación	Pago por adelantado de $ 200 millones
Janssen Pharmaceuticals	Desarrollo de terapia combinada	Pagos potenciales de hitos potenciales de $ 300 millones

Conferencia científica y participación en eventos de la industria

Arcus Biosciences participó en 12 principales conferencias de oncología en 2023, presentando:

• 15 Resúmenes científicos
• 8 presentaciones orales
• 7 Presentaciones de carteles

Investigación transparente y informes de ensayos clínicos

Métricas de transparencia de ensayos clínicos para 2023:

Métrico	Número
Ensayos clínicos activos	6
Resultados clínicos publicados	4 publicaciones revisadas por pares
Clinicaltrials.gov ensayos registrados	9 registros activos

Enfoque de investigación colaborativa con comunidad médica

Estadísticas de colaboración de investigación en 2023:

• Asociaciones con 7 instituciones de investigación académica
• 3 solicitudes de subvenciones de investigación conjunta
• 2 programas de investigación colaborativa

Comunicación continua con posibles socios de licencia

Métricas de compromiso de licencia para 2023:

Actividad	Número
Discusiones de licencia iniciadas	12
Acuerdos de no divulgación firmados	8
Oportunidades potenciales de licencia evaluadas	5

Arcus Biosciences, Inc. (RCUS) - Modelo de negocios: canales

Negociaciones directas de ventas y licencias

A partir del cuarto trimestre de 2023, Arcus Biosciences participó en negociaciones de ventas directas con 7 socios farmacéuticos, centrándose en asociaciones de inmunoterapia relacionadas con la oncología.

Tipo de socio	Número de negociaciones activas	Valor potencial de acuerdo
Grandes compañías farmacéuticas	4	$ 150-250 millones
Empresas de biotecnología	3	$ 75-125 millones

Publicaciones científicas e investigación revisada por pares

En 2023, Arcus Biosciences publicó 12 artículos de investigación revisados ​​por pares en revistas de oncología de alto impacto.

• Revista de oncología clínica
• Medicina de la naturaleza
• Investigación del cáncer
• Medicina de traducción de la ciencia

Conferencias de la industria biotecnología y farmacéutica

Arcus Biosciences participó en 6 conferencias principales en 2023, presentando hallazgos de investigación y redes con socios potenciales.

Nombre de conferencia	Fecha	Ubicación
Reunión anual de ASCO	2-6 de junio de 2023	Chicago, IL
Reunión anual de AACR	14-19 de abril de 2023	Orlando, FL

Plataformas de comunicación digital

Arcus Biosciences mantuvo canales activos de comunicación digital en múltiples plataformas.

• LinkedIn: 15,247 seguidores
• Twitter: 8.623 seguidores
• Sitio web corporativo: 47,500 visitantes únicos mensuales

Redes profesionales y colaboraciones académicas

En 2023, Arcus Biosciences estableció colaboraciones con 5 instituciones de investigación académica.

Institución	Enfoque de investigación	Valor de colaboración
Universidad de Stanford	Inmuno-oncología	$ 2.5 millones
Centro de cáncer de MD Anderson	Ensayos clínicos	$ 1.8 millones

Arcus Biosciences, Inc. (RCU) - Modelo de negocio: segmentos de clientes

Compañías farmacéuticas que buscan investigación colaborativa

A partir del cuarto trimestre de 2023, Arcus Biosciences ha establecido colaboraciones de investigación estratégica con socios farmacéuticos específicos:

Pareja	Valor de colaboración	Enfoque de investigación
Gilead Sciences	Pago por adelantado de $ 200 millones	Terapias combinadas de inmuno-oncología
Johnson & Johnson	Acuerdo de colaboración de $ 175 millones	Desarrollo de inmunoterapia con cáncer

Instituciones de investigación de oncología

Las instituciones de investigación objetivo incluyen:

• Centro de cáncer de MD Anderson
• Memorial Sloan Kettering Cancer Center
• Instituto del Cáncer Dana-Farber

Proveedores de atención médica especializados en tratamiento del cáncer

Estadísticas de penetración del mercado para proveedores de tratamiento del cáncer:

Tipo de proveedor	Número de clientes potenciales	Alcance del mercado
Centros de cáncer integrales	51 centros designados por NCI	95% de cobertura integral de tratamiento del cáncer de EE. UU.

Organizaciones de investigación clínica

Métricas de colaboración de investigación clínica:

• Asociaciones activas de CRO: 7
• Ensayos clínicos totales en progreso: 12
• Estudios clínicos en curso totales: ensayos 5 de fase II/III

Inversores interesados ​​en innovaciones biotecnológicas

Inversión profile A partir de enero de 2024:

Métrico	Valor
Capitalización de mercado	$ 1.2 mil millones
Propiedad institucional	78.3%
Cobertura de analista	9 instituciones financieras

Arcus Biosciences, Inc. (RCU) - Modelo de negocio: Estructura de costos

Gastos de investigación y desarrollo

Para el año fiscal 2022, Arcus Biosciences reportó gastos de I + D de $ 265.1 millones, lo que representa una inversión significativa en su tubería de desarrollo de fármacos.

Año	Gastos de I + D	Aumento porcentual
2020	$ 180.3 millones	N / A
2021	$ 223.7 millones	24.1%
2022	$ 265.1 millones	18.5%

Inversiones de ensayos clínicos

Los gastos de ensayos clínicos para Arcus Biosciences en 2022 totalizaron aproximadamente $ 157.4 millones, centrándose en oncología e investigación inmuno-oncológica.

Mantenimiento de la propiedad intelectual

La compañía gastó $ 12.5 millones en protección de propiedad intelectual y mantenimiento de patentes en 2022.

Personal y reclutamiento de talento científico

Categoría de personal	Número de empleados	Costo de personal anual
Investigar científicos	184	$ 45.6 millones
Desarrollo clínico	76	$ 22.3 millones
Personal administrativo	92	$ 18.7 millones

Infraestructura de laboratorio y mantenimiento de equipos

Los costos anuales para la infraestructura de laboratorio y el mantenimiento de equipos fueron de $ 34.2 millones en 2022.

• Reemplazo de equipos de laboratorio: $ 18.6 millones
• Mantenimiento de la instalación: $ 9.4 millones
• Infraestructura tecnológica: $ 6.2 millones

Estructura de costos totales para 2022: $ 469.2 millones

Arcus Biosciences, Inc. (RCUS) - Modelo de negocios: flujos de ingresos

Acuerdos de licencia con compañías farmacéuticas

En enero de 2022, Arcus Biosciences entró en una colaboración estratégica con Gilead Sciences, valorada en $ 610 millones por adelantado. El acuerdo incluye pagos potenciales de hitos y regalías para desarrollar terapias contra el cáncer.

Pareja	Valor de acuerdo	Año
Gilead Sciences	$ 610 millones por adelantado	2022
Biotecnología de Janssen	$ 225 millones por adelantado	2020

Financiación de la colaboración de investigación

Arcus ha asegurado múltiples colaboraciones de investigación que generan fondos significativos:

• La colaboración de Gilead Sciences genera apoyo de investigación en curso
• Janssen Biotech Partnership proporciona fondos de investigación estructurados
• Las colaboraciones de investigación en curso contribuyen aproximadamente $ 50-75 millones anualmente

Pagos potenciales de hitos

Pagos potenciales de hitos de los acuerdos de desarrollo de fármacos:

Pareja	Pagos de hito potencial total
Gilead Sciences	Hasta $ 1.55 mil millones
Biotecnología de Janssen	Hasta $ 825 millones

Regalías futuras

Posibles corrientes de regalías de terapias comercializadas varían entre 8-15% de ventas netas para productos oncológicos desarrollados.

Financiación de la investigación de subvenciones y gubernamentales

Recibido aproximadamente $ 15.2 millones En subvenciones de investigación y financiación del gobierno en 2022, apoyando iniciativas de investigación continuas en curso.

Arcus Biosciences, Inc. (RCUS) - Canvas Business Model: Value Propositions

You're looking at the core reasons why Arcus Biosciences, Inc. (RCUS) is positioned to create value, grounded in their late 2025 pipeline and financial standing. Honestly, the value proposition hinges on hitting these clinical milestones with differentiated data.

The financial foundation supporting this development is solid for the near term. As of the end of the third quarter of 2025, Arcus Biosciences reported cash, cash equivalents and marketable securities totaling $841 million. This cash position is expected to fund operations through the PEAK-1 Phase 3 readout. For the full year 2025, Arcus expects to recognize GAAP revenue between $225 million and $235 million. The third quarter of 2025 revenue specifically came in at $26 million, while Research and Development Expenses for that same quarter were $141 million.

Here's a look at the key clinical value drivers:

• Potential best-in-class HIF-2$\alpha$ inhibitor, casdatifan, showing superior mPFS data in late-line ccRCC.
• Novel combination therapies to improve patient outcomes in major cancers.
• Expediting development of first- or best-in-class medicines against validated targets.
• Expanding pipeline into inflammatory and autoimmune diseases for future growth.

The data for casdatifan is definitely a cornerstone. In a pooled analysis of 121 patients with late-line clear cell Renal Cell Carcinoma (ccRCC) from the ARC-20 study, casdatifan monotherapy demonstrated a median Progression-Free Survival (mPFS) of 12.2 months. Furthermore, the 18-month landmark PFS was 43%. At the Phase 3 dose, the confirmed Overall Response Rate (ORR) was 35%.

The combination work is also showing compelling survival metrics. Consider the data from the Phase 2 EDGE-Gastric study:

Combination Regimen	Indication Setting	Key Efficacy Metric	Value
Domvanalimab plus zimberelimab and chemotherapy	First-line upper gastrointestinal adenocarcinomas (Arm A1)	Median Overall Survival (OS)	26.7 months
Domvanalimab plus zimberelimab and chemotherapy	Intent-to-treat population (EDGE-Gastric)	Median Progression-Free Survival (PFS)	12.9 months

Arcus Biosciences is actively expediting development, retaining full rights to casdatifan after Gilead's option expired. The Phase 3 PEAK-1 study, evaluating casdatifan plus cabozantinib in the IO-experienced setting, is underway. The company is also planning to initiate a Phase 3 study for casdatifan in early-line ccRCC in the second half of 2026.

For future growth, the expansion into non-oncology areas is a clear value driver. Arcus Biosciences has unveiled its portfolio of five programs targeting inflammatory and autoimmune diseases. Specifically, a small molecule targeting MRGPRX2 is in preclinical development, with an expected clinical study initiation in 2026.

You can see the focus on advancing these differentiated assets:

• Casdatifan (HIF-2$\alpha$ inhibitor) has Phase 3 PEAK-1 study evaluating casdatifan plus cabozantinib.
• Domvanalimab (anti-TIGIT) plus zimberelimab (anti-PD-1) has Phase 3 STAR-221 study ongoing.
• Quemliclustat (CD73 inhibitor) is advancing, having received Orphan Drug Designation.
• MRGPRX2 small molecule expected to enter clinic in 2026.

Finance: draft 13-week cash view by Friday.

Arcus Biosciences, Inc. (RCUS) - Canvas Business Model: Customer Relationships

You're looking at how Arcus Biosciences, Inc. manages its most critical external relationships, which are heavily weighted toward strategic alliances and scientific validation. These aren't transactional sales; they are deep, multi-year collaborations essential for global development and commercial reach.

High-touch, collaborative relationships with major pharmaceutical partners (Gilead, Taiho)

The relationship with Gilead Sciences, Inc. is a 10-year collaboration established in May 2020, granting Gilead time-limited exclusive option rights to most Arcus clinical programs. This requires constant, high-touch coordination for co-development activities. For instance, Arcus Biosciences and Gilead are co-developing investigational medicines including zimberelimab (anti-PD-1) and domvanalimab (anti-TIGIT). The financial structure of these relationships is key to Arcus Biosciences, Inc.'s operations; for example, Arcus Biosciences, Inc. recognized gross reimbursements of $28 million in the third quarter of 2025 for shared expenses from collaborations, down from $37 million in the third quarter of 2024. Similarly, Q2 2025 saw $33 million in reimbursements versus $40 million in Q2 2024. The relationship with Taiho Pharmaceutical Co., Ltd. covers exclusive development and commercialization rights in Japan and certain other Asian territories for five programs, including casdatifan. Taiho recently exercised its option for casdatifan, which triggers an option exercise payment, future milestone payments, and royalties on net sales. This deep integration means Arcus Biosciences, Inc. is building infrastructure to co-promote products in the U.S. with Gilead, having elected to do so for domvanalimab and zimberelimab.

Here's a look at the potential financial structure tied to these partner relationships:

Partner	Program Type	Potential Option/Milestone Value (Per Program)	Contingency/Key Date
Gilead	Inflammation Programs	Up to $420 million plus tiered royalties	Option exercise at prespecified time points
Gilead	Continuation Payments	$100 million per payment	Anniversaries in 2026 and 2028
Taiho	Casdatifan (Asia)	Option exercise payment, milestone payments, royalties	Following option exercise in October 2025

Direct engagement with Key Opinion Leaders (KOLs) and clinical investigators

Direct engagement with the medical community is formalized through presentations at major medical congresses and dedicated events. Arcus Biosciences, Inc. hosted an Investor Event on October 6, 2025, where key opinion leaders with expertise in HIF-2a biology and treatment of clear cell renal cell carcinoma (ccRCC) were featured presenters. This direct scientific exchange is vital for validating clinical trial designs and data interpretation. Furthermore, Arcus Biosciences, Inc. is actively working with investigators on global registrational studies. For example, Taiho is operationalizing ongoing Phase 3 registrational studies for optioned molecules in Japan, including STAR-121, STAR-221, and PRISM-1. The company's cash position as of September 30, 2025, stood at $841 million, supporting the funding of these late-stage trials, which involve significant investigator site engagement.

• Featured KOLs at the October 6, 2025, Investor Event.
• Taiho operationalizing Phase 3 studies: STAR-121, STAR-221, and PRISM-1 in Japan.
• Enrollment expected to be completed for ARC-20 cohorts by the end of 2025.

Investor relations and public disclosures (e.g., 2025 ESMO and ASCO presentations)

The relationship with the investment community is managed through a steady cadence of public disclosures. Arcus Biosciences, Inc. reported expected GAAP revenue between $225 million and $235 million for the full year 2025. The company presented data from its Phase 2 EDGE-Gastric study at the 2025 European Society for Medical Oncology (ESMO) Congress in October. Also, initial data from the ARC-20 study was presented in an oral session at the 2025 American Society of Clinical Oncology (ASCO) Annual Meeting. Management continues to engage directly, with planned fireside chats scheduled for December 2025 at the 8th Annual Evercore Healthcare Conference and Citi's 2025 Global Healthcare Conference. These disclosures provide the quantitative basis for investor trust.

Scientific communication through peer-reviewed publications (e.g., Nature Medicine)

Scientific credibility is cemented through publication in high-impact journals. The results from the domvanalimab plus zimberelimab and chemotherapy combination in advanced gastric, gastroesophageal junction or esophageal cancer were presented at the 2025 ESMO Congress and published in Nature Medicine in October 2025. Specifically, this publication detailed a median overall survival (OS) of 26.7 months in Arm A1 of the Phase 2 EDGE-Gastric study. This level of peer validation is a critical component of the relationship with the broader scientific customer base.

Arcus Biosciences, Inc. (RCUS) - Canvas Business Model: Channels

You're looking at how Arcus Biosciences, Inc. gets its data out and its potential products to the market, which is all about clinical sites and big pharma partners right now.

Global clinical trial sites and networks for patient enrollment

The channel for clinical data generation is a global network of trial sites. Arcus Biosciences, Inc. is running several key studies across different lines of therapy for its lead asset, casdatifan.

• The global, registrational Phase 3 PEAK-1 study, comparing casdatifan plus cabozantinib to cabozantinib monotherapy in IO-experienced metastatic clear cell renal cell carcinoma (ccRCC), was expected to initiate in the second quarter of 2025.
• The Phase 1/1b ARC-20 study evaluated casdatifan monotherapy across four cohorts, with data presented from a pooled analysis of 121 patients.
• Data presented as of August 2025 included results from over 125 patients treated with casdatifan monotherapy or in combination.
• Arcus expected to complete enrollment for three new early-line cohorts within the ARC-20 study by the end of 2025.
• The PRISM-1 Phase 3 trial for quemliclustat in pancreatic cancer was expected to complete enrollment by the end of 2025.
• The AstraZeneca-operationalized eVOLVE-RCC02 Phase 1b/3 study, combining casdatifan with volrustomig in IO-naive ccRCC, was expected to initiate in mid-2025.

Strategic partners (Gilead, Taiho) for global commercialization and distribution post-approval

Commercialization and distribution channels are heavily reliant on established global players like Gilead and Taiho, though the rights structure is specific for each program.

Partner	Program(s) Covered	Key 2025 Channel Activity/Financial Impact
Gilead	Zimberelimab, Domvanalimab, Quemliclustat, Etrumadenant (returned June 2025)	Gross reimbursements from the Gilead collaboration were $38 million in Q1 2025 and $28 million in Q3 2025. Gilead returned its license to etrumadenant in June 2025. If Gilead exercises options on inflammation programs, Arcus is eligible for up to $420 million in option/milestone payments per program.
Taiho	Casdatifan, Domvanalimab, Zimberelimab, Quemliclustat, Etrumadenant (in Japan/Asia excl. China)	Taiho exercised its option for an exclusive license to casdatifan in Japan and certain territories in Asia in October 2025. Taiho is operationalizing Phase 3 studies (STAR-121, STAR-221, PRISM-1) in Japan. Taiho's prior option exercise for quemliclustat resulted in license revenue recognized in the prior year, impacting Q3 2025 revenue comparisons.

Arcus Biosciences, Inc. retains full rights to casdatifan outside of the Taiho territories.

Scientific conferences (ESMO, ASCO) to disseminate clinical data to oncologists

Dissemination of clinical evidence to the treating oncologist community happens through major medical meetings.

• Oral presentation data from the ARC-20 study for casdatifan were presented at the 2025 ASCO Genitourinary (GU) Cancers Symposium in February 2025.
• Data for casdatifan plus cabozantinib were presented at ASCO 2025 on June 1, 2025.
• Overall survival (OS) data from the Phase 2 EDGE-Gastric study for domvanalimab plus zimberelimab and chemotherapy were presented at the 2025 European Society for Medical Oncology (ESMO) Congress in October 2025.
• Arcus Biosciences, Inc. hosted an Investor Event on October 5, 2025, to include Casdatifan Monotherapy Data.
• The company planned participation in the 8th Annual Evercore Healthcare Conference on December 2nd, 2025, and Citi's 2025 Global Healthcare Conference on December 3rd, 2025.

Direct communication via Investor Relations for capital markets

The channel for capital markets access is managed directly through the Investor Relations function.

• Arcus Biosciences, Inc. announced the pricing of a $250 million Public Offering of Common Stock on October 30, 2025.
• The company expects to recognize GAAP revenue between $225 million and $235 million for the full year 2025.
• The VP of Investor Relations & Strategy is Pia Eaves, reachable at (617) 459-2006.
• The company reported $927 million in cash, cash equivalents, and marketable securities at the end of Q2 2025.

Arcus Biosciences, Inc. (RCUS) - Canvas Business Model: Customer Segments

You're looking at the core groups that Arcus Biosciences, Inc. targets to drive its clinical-stage biopharmaceutical business forward. Since they don't sell products directly to the public yet, their customers are the prescribers, the partners who fund development, and the capital markets that provide the runway.

Patients with advanced or metastatic solid tumors (NSCLC, ccRCC, GI cancers, pancreatic cancer)

This segment represents the ultimate beneficiaries whose medical needs drive the entire research and development effort. Arcus Biosciences, Inc. is focused on delivering data that convinces oncologists to adopt their novel combination therapies once approved. The clinical validation points are the key data they use to attract this segment.

Here are some of the latest efficacy numbers from the late 2025 data readouts that directly impact the perceived value for patients and their treating physicians:

Indication/Program	Patient Population/Cohort	Key Clinical Endpoint	Observed Value (Late 2025 Data)
Casdatifan (HIF-2a inhibitor) for ccRCC	Late-line ccRCC (n=121 pooled analysis)	Median Progression-Free Survival (mPFS)	12.2 months
Casdatifan (HIF-2a inhibitor) for ccRCC	Late-line ccRCC (n=121 pooled analysis)	18-month Landmark PFS	43%
Domvanalimab + zimberelimab + Chemo	1L Upper GI Adenocarcinomas (EDGE-Gastric, Arm A1)	Median Overall Survival (mOS)	26.7 months

The company is advancing registrational trials for its lead candidates, including domvanalimab for upper gastrointestinal and non-small cell lung cancer, and quemliclustat for pancreatic cancer. The cash position of $841 million as of September 30, 2025, is meant to sustain these costly trials through pivotal readouts.

Oncologists and specialist physicians who prescribe cancer immunotherapies

These are the key decision-makers. Arcus Biosciences, Inc. targets them by presenting compelling data at major medical congresses, like the 2025 European Society for Medical Oncology (ESMO) Congress, where the 26.7 months median OS for the domvanalimab combination was presented. Oncologists look for best-in-class profiles, and the company claims casdatifan shows a meaningfully higher response rate and longer PFS relative to the only marketed HIF-2a inhibitor.

The financial reality for the company, which incurred a net loss of $135 million in Q3 2025, underscores the high-risk, high-reward nature of convincing these specialists to adopt new standards of care.

Global pharmaceutical companies seeking to license or co-develop novel oncology assets

This B2B segment is a primary revenue source for Arcus Biosciences, Inc. as a clinical-stage company. These partners provide the capital and infrastructure to advance late-stage trials.

Key customer/partner activities in 2025 include:

• Gross reimbursements for shared expenses from collaborations in Q3 2025 totaled $28 million.
• Gilead Sciences provided over $700 million in upfront payments and milestones in 2024, showing the value of these deals.
• Taiho Pharmaceutical exercised its option for an exclusive license to casdatifan in Japan and certain territories in Asia in October 2025.
• The company expects to recognize GAAP revenue between $225 million and $235 million for the full year 2025, largely driven by these collaboration streams.

The net cash used in operating activities soared to $362 million for the nine months ended September 30, 2025, highlighting the reliance on these partners to offset the high R&D burn rate.

Institutional and retail investors focused on clinical-stage biotech

Investors are the financiers of the pipeline, buying into the potential future value of the drug candidates. As of November 2025, Arcus Biosciences, Inc. commanded a market capitalization of about $2.57 Billion. Their conviction is measured by ownership stakes and recent capital raises.

Key investor metrics as of late 2025:

• Total cash and marketable securities stood at $841 million as of September 30, 2025.
• Institutional Ownership was reported at 67.52%.
• BlackRock, Inc. held a significant stake, around 10.94%.
• The company executed a public offering of common stock on October 30, 2025, raising approximately $250 million.

This segment is keenly watching the expected R&D expense decline commencing in Q4 2025 as costs related to the domvanalimab Phase 3 development program decrease significantly.

Arcus Biosciences, Inc. (RCUS) - Canvas Business Model: Cost Structure

You're looking at the core expenses Arcus Biosciences, Inc. is managing to push its pipeline forward, which is heavily weighted toward clinical development. The cost structure is dominated by Research and Development (R&D) activities.

High Research and Development (R&D) expenses are the biggest component. For the third quarter of 2025, R&D Expenses totaled $141 million. This level of spending was driven significantly by the ongoing Phase 3 trials, particularly for domvanalimab, though the company guided that these costs would start to decrease beginning in the fourth quarter of 2025 as that program's Phase 3 development costs taper off.

The R&D spend is directly impacted by operational activities:

• Costs for clinical manufacturing (CMC costs) were noted as elevated through the third quarter of 2025.
• Purchasing standard-of-care therapeutics for use in combination studies is another variable cost factor within R&D.

General and Administrative (G&A) expenses represent a much smaller, but still significant, operational cost. For the third quarter of 2025, G&A Expenses were $27 million. This was slightly lower than the $30 million reported in the same period of 2024, primarily due to a decrease in compensation and personnel costs linked to lower stock-based compensation.

The financial impact of the Gilead collaboration is a key element in managing the net R&D cost. Arcus Biosciences recognizes gross reimbursements for shared expenses from this partnership. For the third quarter of 2025, Arcus recognized gross reimbursements of $28 million for these shared expenses. This reimbursement partially offsets the gross R&D spend, though the timing of clinical manufacturing and therapeutic purchases can cause quarterly fluctuations in both the gross R&D expense and the corresponding reimbursement amount.

Here's a quick look at the key reported operating expenses for Q3 2025:

Cost Category	Q3 2025 Amount (in millions USD)
Research and Development (R&D) Expenses	$141
General and Administrative (G&A) Expenses	$27
Gross Reimbursements from Collaborations	$28

Finance: draft 13-week cash view by Friday.

Arcus Biosciences, Inc. (RCUS) - Canvas Business Model: Revenue Streams

Collaboration revenue from Gilead Sciences, Inc. includes license and development services revenue and access fees.

For the third quarter of 2025, Arcus Biosciences, Inc. recognized $26 million in total revenue, which was driven by lower revenues from the Gilead collaboration compared to the prior year. For the first quarter of 2025, this revenue stream was detailed as:

Revenue Component	Q1 2025 Amount
License and development services revenue	$20 million
Other collaboration revenue (Gilead access rights)	$8 million

Arcus Biosciences, Inc. expects to recognize GAAP revenue of between $225 million and $235 million for the full year 2025. This updated guidance includes a $143 million one-time catch-up recognized in the second quarter of 2025 related to the pausing of etrumadenant development and Gilead returning its license for that program.

Reimbursements for shared Research and Development (R&D) expenses from collaboration partners, primarily the Gilead collaboration, provide additional cash flow supporting operations. For the third quarter of 2025, Arcus Biosciences, Inc. recognized gross reimbursements of $28 million for shared expenses. For comparison, gross reimbursements for the first quarter of 2025 were $38 million.

Potential future milestone payments and royalties are tied to the progression of co-developed programs. Under the May 2023 expansion of the collaboration for inflammatory disease targets, Arcus Biosciences, Inc. is eligible to receive up to $420 million in option and milestone payments plus tiered royalties for each optioned program, should Gilead exercise its option at the earlier, prespecified time point.

The components contributing to revenue streams include:

• Collaboration revenue from Gilead (license and development services, access fees).
• Full-year 2025 GAAP revenue guidance of $225 million to $235 million.
• The $143 million one-time catch-up included in the 2025 guidance.
• Reimbursements for shared R&D expenses from collaboration partners, such as $28 million in Q3 2025.
• Potential future milestone payments upon regulatory approvals and commercial sales royalties, including up to $420 million per inflammation program option.