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Arcus Biosciences Inc (RCUS)
NYSE:RCUS
Earnings Data
Report Date
May 12, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
-1.02Last Year’s EPS
-1.14Same Quarter Last Year
Moderate Buy
Based on 8 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed strong clinical momentum for casdatifan — notably improved ORR (45% at 100 mg QD), durable PFS (median 15.1 months in the 100 mg cohort), low primary progression supporting a TKI‑sparing frontline strategy, an efficient ARC‑20 platform enabling rapid cohort expansion, a robust cash balance (~$1.0B) with runway into H2 2028, and near‑term clinic entry of immunology programs. Key risks discussed include an upcoming futility analysis (STAR‑121), a paused/dose‑reduced AstraZeneca volru combination with immune AE considerations, competition from Merck’s belzutifan program, and high ongoing R&D spend that depends on successful enrollment and readouts. On balance, the highlights (clinical differentiation, commercial opportunity, cash runway, and pipeline progress) strongly outweigh the manageable program and competitive risks.Company Guidance
Substantially Improved Monotherapy ORR at 100 mg QD
Confirmed ORR for the 100 mg once-daily casdatifan cohort increased from 35% (Aug data cut) to 45% (Jan 30 data cut) — an absolute increase of 10 percentage points (≈28.6% relative increase). Pooled confirmed ORR improved from 31% to 35% (4 percentage points, ≈12.9% relative).
Strong and Durable PFS Results
100 mg cohort median PFS of 15.1 months (median follow-up 17.8 months). Pooled median PFS 12.2 months. These PFS outcomes are ~2–3x longer than the 5.6 months reported for belzutifan in the same late-line setting (15.1 vs 5.6 months ≈2.7×).
Low Primary Progression Rates Supporting TKI‑Sparing Frontline Strategy
CAS shows consistently low primary progression across cohorts (example: CAS + zim cohort primary progression 9% for first 23/30 patients). By contrast, belzutifan monotherapy has a 35% primary progression rate in its Phase III trial — an absolute reduction of ~26 percentage points (≈74% relative reduction) vs belzutifan.
ARC‑20 Platform Enables Rapid Development and Dose Optimization
ARC‑20 provided 121 late‑line monotherapy patient data supporting 100 mg QD as the optimal dose, rapid addition of ~90 patients across new cohorts, and ~30 active sites in 4 countries to accelerate combo cohorts and support Phase III starts (PEAK‑1 and frontline cohorts).
PEAK‑1 Phase III Enrolling; Fast‑to‑Market Design
PEAK‑1 (casdatifan + cabozantinib vs cabozantinib) is actively enrolling with a sole primary endpoint of PFS to shorten time to readout; company expects to complete enrollment by year‑end and views this as a high‑confidence, fast‑to‑market strategy in IO‑experienced ccRCC (~21,000 patients in major markets targeted for PEAK‑1).
Significant Commercial Opportunity Quantified
Management estimates casdatifan peak sales of ~$2.5B in the IO‑experienced (PEAK‑1) setting alone and ~$3B+ in first line, totaling a potential >$5B opportunity in 1st/2nd line RCC; current marketed belzutifan run‑rate ~ $1B validates class opportunity.
Robust Cash Position and Runway
Cash of $1.0 billion at end of Q4 vs $841 million at end of Q3 (+$159M, ≈18.9% increase), bolstered by $288M financing in November. Company expects cash and investments to fund operations until at least the second half of 2028.
Q4 Financials and 2026 Guidance
Q4 GAAP revenue of $33M vs $26M in Q3 (+$7M, ≈26.9% QoQ). Q4 R&D expense decreased to $121M from $141M in Q3 (≈‑14.2% QoQ). Company guides 2026 GAAP revenue of $45M–$55M and expects operating expenses to decrease meaningfully in 2026.
Advancing Immunology Pipeline with Near‑Term Clinic Entry
Three advanced I&I programs highlighted: MRGPRX2 antagonist expected to enter clinic later this year (Phase I healthy volunteers then proof‑of‑concept in chronic inducible urticaria with potential PoC in 9–12 months); selective TNF receptor‑1 inhibitor expected in clinic late 2026/early 2027 — both positioned for differentiation vs biologics.
RCUS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
RCUS Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 25, 2026 | $20.27 | $19.54 | -3.60% |
Oct 28, 2025 | $19.88 | $20.29 | +2.06% |
Aug 06, 2025 | $9.49 | $9.28 | -2.21% |
May 06, 2025 | $8.12 | $8.01 | -1.35% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Arcus Biosciences Inc (RCUS) report earnings?
Arcus Biosciences Inc (RCUS) is schdueled to report earning on May 12, 2026, After Close (Confirmed).
What is Arcus Biosciences Inc (RCUS) earnings time?
Arcus Biosciences Inc (RCUS) earnings time is at May 12, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is RCUS EPS forecast?
RCUS EPS forecast for the fiscal quarter 2026 (Q1) is -1.02.