Arcus Biosciences reports Q2 EPS ($1.04), consensus ($1.10)

Reports Q2 revenue $29M, consensus $30.3M. “Beyond our broad development program for domvanalimab, our potentially best-in-class Fc-silent anti-TIGIT antibody, in lung and upper GI cancers, our pipeline continues to mature with multiple clinical-stage molecules being evaluated across common cancers of high unmet need. In addition, our discovery platform is expected to continue to generate at least one IND per year, and we expect to advance two new molecules into the clinic prior to the end of 2023. By early next year, we expect to present several key datasets across our pipeline, including data from our Phase 2 EDGE-Gastric study – ARC-21 – for domvanalimab in first-line gastric cancer, overall survival data from ARC-8 for quemliclustat in pancreatic cancer, and data from the Phase 1b ARC-20 study for AB521, our HIF-2a inhibitor,” said Terry Rosen, Ph.D., CEO of Arcus. This note updates a prior version with updated consensus figures.