Arcus Biosciences, Inc. (RCUS): Modelo de Negócios Canvas [Jan-2025 Atualizado]

Na paisagem dinâmica da imunoterapia contra o câncer, a Arcus Biosciences, Inc. (RCUS) surge como uma força pioneira, transformando os limites da inovação médica por meio de sua inovação em tela de modelo de negócios. Ao alavancar estrategicamente parcerias colaborativas, capacidades de pesquisa de ponta e uma abordagem focada em laser à imuno-oncologia, a ARCUS está redefinindo como as empresas de biotecnologia desenvolvem soluções terapêuticas direcionadas que têm o potencial de revolucionar o tratamento do câncer e atender às necessidades médicas críticas.

Arcus Biosciences, Inc. (RCUS) - Modelo de negócios: Parcerias -chave

Colaboração estratégica com Gilead Sciences

Em setembro de 2020, a Arcus Biosciences entrou em uma colaboração estratégica com a Gilead Sciences avaliada em US $ 610 milhões antecipadamente. A parceria se concentra no desenvolvimento de imunoterapias ao câncer direcionadas à via de adenosina.

Detalhes da parceria	Valor financeiro
Pagamento inicial	US $ 610 milhões
Potenciais pagamentos marcantes	Até US $ 1,55 bilhão
Potencial de royalties	Porcentagens de alto dígito a médio por meio

Parcerias de pesquisa com instituições acadêmicas

O Arcus Biosciences mantém relações de pesquisa colaborativa com vários centros de pesquisa acadêmica:

• Stanford University Cancer Research Center
• Universidade da Califórnia, Departamento de Imunologia de São Francisco
• Memorial Sloan Kettering Cancer Center

Acordos de licenciamento farmacêutico

Os contratos atuais de licenciamento farmacêutico incluem:

Parceiro	Candidato a drogas	Estágio de desenvolvimento
Gilead Sciences	AB680 (inibidor de CD73)	Fase 1/2 ensaios clínicos
Merck & Co.	AB154 (anticorpo anti-tigit)	Fase 1/2 ensaios clínicos

Colaborações do Centro de Pesquisa de Biotecnologia

As colaborações de pesquisa ativa incluem:

• Instituto Parker para Imunoterapia contra o Câncer
• Instituto de Pesquisa do Câncer de Ludwig
• UCSF Helen Diller Family Comprehensive Cancer Center

Arcus Biosciences, Inc. (RCUS) - Modelo de negócios: Atividades -chave

Pesquisa e desenvolvimento de drogas imuno-oncologia

A Arcus Biosciences se concentra no desenvolvimento de novas terapias imuno-oncológicas. A partir do quarto trimestre de 2023, a empresa tinha três candidatos a medicamentos em estágio clínico em desenvolvimento.

Candidato a drogas	Estágio de desenvolvimento	Indicação alvo
Zimberelimab	Fase 2/3	Câncer de pulmão de células não pequenas
Domvanalimab	Fase 2	Múltiplos tumores sólidos
AB308	Pré -clínico	Tumores sólidos

Gerenciamento de ensaios pré -clínicos e clínicos

A empresa investiu US $ 167,3 milhões em despesas de P&D em 2022, representando um compromisso significativo com o desenvolvimento clínico.

• Ensaios clínicos ativos em múltiplas indicações de oncologia
• Colaborações em andamento com instituições de pesquisa acadêmica e farmacêutica
• Infraestrutura de gerenciamento de ensaios clínicos robustos

Identificação e validação do alvo molecular

A Arcus Biosciences identificou e validou vários alvos moleculares em imuno-oncologia.

Alvo molecular	Classe de destino	Status de pesquisa
CD73	Enzima imunossupressora	Validado
Receptor A2A	Ponto de verificação imune	Validado

Engenharia terapêutica de anticorpos

A empresa desenvolveu tecnologias de engenharia de anticorpos proprietários.

• Capacidades de desenvolvimento de anticorpos monoclonais internos
• Plataformas avançadas de engenharia de proteínas
• Experiência no projeto de inibidores de ponto de verificação imune

Otimização e triagem de candidatos a drogas

A Arcus Biosciences mantém um sofisticado processo de triagem de medicamentos com estratégias abrangentes de otimização.

Parâmetro de triagem	Abordagem
Seleção de candidatos	Triagem de alto rendimento
Critérios de otimização	Eficácia, segurança, farmacocinética
Volume anual de triagem	Aproximadamente 500-1000 candidatos moleculares

Arcus Biosciences, Inc. (RCUS) - Modelo de negócios: Recursos -chave

Instalações avançadas de pesquisa de biotecnologia

A Arcus Biosciences opera uma instalação de pesquisa de 43.000 pés quadrados localizada em Hayward, Califórnia. A partir do quarto trimestre de 2023, a instalação abriga vários laboratórios de pesquisa com um investimento estimado de US $ 24,7 milhões em infraestrutura de pesquisa.

Métrica da instalação	Especificação
Espaço total de pesquisa	43.000 pés quadrados
Investimento de infraestrutura	US $ 24,7 milhões
Localização	Hayward, Califórnia

Plataformas de tecnologia de imunoterapia proprietárias

Arcus Biosciences mantém 4 plataformas de tecnologia de imunoterapia primária com 12 famílias de patentes ativas protegendo suas inovações tecnológicas.

• Plataforma de imuno-oncologia
• Tecnologia do inibidor do ponto de verificação
• Plataforma de engenharia de anticorpos
• Plataforma de metabolismo do câncer

Equipe de Pesquisa e Desenvolvimento Científica qualificada

Em dezembro de 2023, a Arcus Biosciences emprega 187 profissionais de pesquisa e desenvolvimento com diplomas avançados.

Composição da equipe	Número
Funcionários totais de P&D	187
Titulares de doutorado	103
Titulares de mestrado	64

Portfólio de propriedade intelectual

A Arcus Biosciences detém 12 famílias de patentes com 47 patentes totais concedidas globalmente a partir do quarto trimestre 2023.

• 12 famílias de patentes
• 47 patentes totais concedidas
• Cobertura de patentes nos Estados Unidos, Europa e Ásia

Equipamentos de laboratório e infraestrutura especializados

O investimento em equipamentos, totalizando US $ 16,3 milhões, inclui instrumentos avançados de pesquisa e plataformas de biotecnologia.

Categoria de equipamento	Investimento
Instrumentos de pesquisa	US $ 9,6 milhões
Plataformas de biotecnologia	US $ 6,7 milhões
Investimento total de equipamentos	US $ 16,3 milhões

Arcus Biosciences, Inc. (RCUS) - Modelo de negócios: proposições de valor

Soluções inovadoras de imunoterapia ao câncer

A Arcus Biosciences se concentra no desenvolvimento de imunoterapias direcionadas ao câncer com candidatos específicos de produtos:

Candidato a produto	Área terapêutica	Estágio de desenvolvimento
Zimberelimab (AB122)	Inibidor do ponto de verificação anti-PD-1	Estágio clínico
Domvanalimab (AB154)	Anticorpo anti-tigit	Estágio clínico

Abordagens terapêuticas direcionadas

A pesquisa clínica demonstra eficácia potencial em vários tipos de câncer:

• Câncer de pulmão de células não pequenas
• Câncer de pâncreas metastático
• Câncer colorretal

Desenvolvimento de inibidores de ponto de verificação imune

Pesquisa Pipeline Investments a partir de 2023:

Categoria de pesquisa	Valor do investimento
Despesas de P&D	US $ 189,4 milhões
Financiamento de ensaios clínicos	US $ 76,2 milhões

Estratégias de tratamento personalizadas

Abordagem de terapia combinada com parcerias estratégicas -chave:

• Colaboração com Gilead Sciences
• Focado no desenvolvimento de imunoterapia combinada
• Potencial para protocolos personalizados de tratamento de câncer

Atendendo às necessidades médicas não atendidas

Métricas de oportunidade de mercado:

Segmento de mercado	Valor potencial
Mercado Global de Imuno-Oncologia	US $ 152,8 bilhões até 2025
Necessidades de tratamento de câncer não atendidas	Estimado 40% dos pacientes

Arcus Biosciences, Inc. (RCUS) - Modelo de negócios: Relacionamentos do cliente

Engajamento direto com parceiros farmacêuticos

A partir do quarto trimestre 2023, a Arcus Biosciences estabeleceu parcerias estratégicas com:

Parceiro	Detalhes da colaboração	Valor da oferta
Gilead Sciences	Colaboração em andamento em andamento	Pagamento inicial de US $ 200 milhões
Janssen Pharmaceuticals	Desenvolvimento de terapia combinada	US $ 300 milhões em potenciais pagamentos marcantes

Conferência Científica e Participação de Eventos da Indústria

A Arcus Biosciences participou de 12 principais conferências de oncologia em 2023, apresentando:

• 15 resumos científicos
• 8 apresentações orais
• 7 apresentações de pôsteres

Pesquisa transparente e relatório de ensaios clínicos

Métricas de transparência do ensaio clínico para 2023:

Métrica	Número
Ensaios clínicos ativos	6
Resultados clínicos publicados	4 publicações revisadas por pares
Ensaios registrados do clinicaltrials.gov	9 registros ativos

Abordagem de pesquisa colaborativa com comunidade médica

Estatísticas de colaboração de pesquisa em 2023:

• Parcerias com 7 instituições de pesquisa acadêmica
• 3 Aplicativos conjuntos de concessão de pesquisa
• 2 programas de pesquisa colaborativa

Comunicação contínua com potenciais parceiros de licenciamento

Métricas de engajamento de licenciamento para 2023:

Atividade	Número
Discussões de licenciamento iniciadas	12
Acordos de não divulgação assinados	8
Possíveis oportunidades de licenciamento avaliadas	5

Arcus Biosciences, Inc. (RCUs) - Modelo de Negócios: Canais

Negociações diretas de vendas e licenciamento

No quarto trimestre 2023, a Arcus Biosciences se envolveu em negociações diretas de vendas com 7 parceiros farmacêuticos, com foco em parcerias de imunoterapia relacionadas a oncologia.

Tipo de parceiro	Número de negociações ativas	Valor potencial de negócios
Grandes empresas farmacêuticas	4	US $ 150-250 milhões
Empresas de biotecnologia	3	US $ 75-125 milhões

Publicações científicas e pesquisa revisada por pares

Em 2023, a Arcus Biosciences publicou 12 artigos de pesquisa revisados ​​por pares em periódicos de oncologia de alto impacto.

• Jornal de Oncologia Clínica
• Medicina da natureza
• Pesquisa sobre câncer
• Ciência Medicina Translacional

Conferências da indústria de biotecnologia e farmacêutica

A Arcus Biosciences participou de 6 principais conferências em 2023, apresentando resultados de pesquisa e trabalhos em rede com potenciais parceiros.

Nome da conferência	Data	Localização
Reunião Anual da ASCO	2-6 de junho de 2023	Chicago, IL
Reunião Anual da AACR	14-19 de abril de 2023	Orlando, FL

Plataformas de comunicação digital

A Arcus Biosciences manteve canais de comunicação digital ativos em várias plataformas.

• LinkedIn: 15.247 seguidores
• Twitter: 8.623 seguidores
• Site corporativo: 47.500 visitantes únicos mensais

Redes profissionais e colaborações acadêmicas

Em 2023, a Arcus Biosciences estabeleceu colaborações com 5 instituições de pesquisa acadêmica.

Instituição	Foco na pesquisa	Valor de colaboração
Universidade de Stanford	Imuno-oncologia	US $ 2,5 milhões
MD Anderson Cancer Center	Ensaios clínicos	US $ 1,8 milhão

Arcus Biosciences, Inc. (RCUS) - Modelo de negócios: segmentos de clientes

Empresas farmacêuticas que buscam pesquisa colaborativa

A partir do quarto trimestre 2023, a Arcus Biosciences estabeleceu colaborações estratégicas de pesquisa com parceiros farmacêuticos específicos:

Parceiro	Valor de colaboração	Foco na pesquisa
Gilead Sciences	Pagamento inicial de US $ 200 milhões	Terapias combinadas de imuno-oncologia
Johnson & Johnson	Contrato de colaboração de US $ 175 milhões	Desenvolvimento de imunoterapia ao câncer

Instituições de Pesquisa Oncológica

As instituições de pesquisa -alvo incluem:

• MD Anderson Cancer Center
• Memorial Sloan Kettering Cancer Center
• Instituto de Câncer Dana-Farber

Provedores de saúde especializados em tratamento de câncer

Estatísticas de penetração de mercado para fornecedores de tratamento de câncer:

Tipo de provedor	Número de clientes em potencial	Alcance do mercado
Centros abrangentes de câncer	51 centros projetados por NCI	95% de cobertura abrangente de tratamento do câncer nos EUA

Organizações de pesquisa clínica

Métricas de colaboração de pesquisa clínica:

• Parcerias CRO ativas: 7
• Ensaios clínicos totais em andamento: 12
• Total de Estudos Clínicos em andamento: 5 Fase II/III ensaios

Investidores interessados ​​em inovações de biotecnologia

Investimento profile Em janeiro de 2024:

Métrica	Valor
Capitalização de mercado	US $ 1,2 bilhão
Propriedade institucional	78.3%
Cobertura do analista	9 instituições financeiras

Arcus Biosciences, Inc. (RCUS) - Modelo de negócios: estrutura de custos

Despesas de pesquisa e desenvolvimento

Para o ano fiscal de 2022, a Arcus Biosciences registrou despesas de P&D de US $ 265,1 milhões, representando um investimento significativo em seu pipeline de desenvolvimento de medicamentos.

Ano	Despesas de P&D	Aumento percentual
2020	US $ 180,3 milhões	N / D
2021	US $ 223,7 milhões	24.1%
2022	US $ 265,1 milhões	18.5%

Investimentos de ensaios clínicos

As despesas de ensaios clínicos para Biosciências da Arcus em 2022 totalizaram aproximadamente US $ 157,4 milhões, com foco em pesquisa de oncologia e imuno-oncologia.

Manutenção da propriedade intelectual

A empresa gastou US $ 12,5 milhões em proteção de propriedade intelectual e manutenção de patentes em 2022.

Pessoal e recrutamento de talentos científicos

Categoria de pessoal	Número de funcionários	Custo anual do pessoal
Cientistas de pesquisa	184	US $ 45,6 milhões
Desenvolvimento Clínico	76	US $ 22,3 milhões
Equipe administrativo	92	US $ 18,7 milhões

Infraestrutura de laboratório e manutenção de equipamentos

Os custos anuais para infraestrutura de laboratório e manutenção de equipamentos foram de US $ 34,2 milhões em 2022.

• Substituição de equipamentos de laboratório: US $ 18,6 milhões
• Manutenção da instalação: US $ 9,4 milhões
• Infraestrutura de tecnologia: US $ 6,2 milhões

Estrutura de custo total para 2022: US $ 469,2 milhões

Arcus Biosciences, Inc. (RCUS) - Modelo de negócios: fluxos de receita

Acordos de licenciamento com empresas farmacêuticas

Em janeiro de 2022, a Arcus Biosciences firmou uma colaboração estratégica com as ciências da Gilead, avaliada em US $ 610 milhões antecipadamente. O acordo inclui pagamentos e royalties em potencial para o desenvolvimento de terapias contra o câncer.

Parceiro	Valor do acordo	Ano
Gilead Sciences	US $ 610 milhões antecipadamente	2022
Janssen Biotech	US $ 225 milhões antecipadamente	2020

Financiamento de colaboração de pesquisa

A Arcus garantiu várias colaborações de pesquisa gerando financiamento significativo:

• A colaboração da Gilead Sciences gera suporte contínuo à pesquisa
• Janssen Biotech Partnership fornece financiamento de pesquisa estruturada
• As colaborações de pesquisa em andamento contribuem aproximadamente US $ 50-75 milhões anualmente

Potenciais pagamentos marcantes

Potenciais pagamentos marcantes dos acordos de desenvolvimento de medicamentos:

Parceiro	Pagamentos em potencial total em potencial
Gilead Sciences	Até US $ 1,55 bilhão
Janssen Biotech	Até US $ 825 milhões

Futuros royalties

Os fluxos de royalties em potencial de terapias comercializadas variam entre 8-15% de vendas líquidas para produtos de oncologia desenvolvidos.

Concessão e financiamento de pesquisa governamental

Recebido aproximadamente US $ 15,2 milhões em bolsas de pesquisa e financiamento do governo em 2022, apoiando iniciativas de pesquisa em andamento em andamento.

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.