RCUS at a glance
Arcus Biosciences, Inc. (RCUS, SEC CIK 1724521) filed its latest 10-K annual report on February 25, 2026, a 10-Q quarterly report on August 5, 2026, an 8-K current report on August 5, 2026 and Form 4 insider filings as recently as August 24, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), Arcus Biosciences, Inc. (RCUS) reported revenue of $33.0 million (down 35.3% from FY2024) and a net loss of $353.0 million. Diluted EPS was -$3.29.
- As of June 30, 2026, 31 institutional investment managers tracked by SignalX reported holding Arcus Biosciences, Inc. (RCUS) shares worth $2.4 billion in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by Azoy Alexander on August 21, 2026 of 2,827 shares at $30.00 per share.
- In the last 90 days, RCUS insiders reported 0 open-market purchases ($0) and 4 open-market sales ($2.1M) on Form 4, a net sale of $2.1M.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $33.0M
- −35.3% vs prior year
- Insiders · 90 days
- 0 buys · 4 sells
- Net −$2.1M
- 13F holders
- 31 funds
- $2.4B · +2 vs prior quarter
- Latest 8-K
- Aug 5, 2026
- Item 2.02
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business model: Development and commercialization of investigational pharmaceutical products in immuno-oncology
- No new products or segments introduced; increased emphasis on regulatory, pricing, and healthcare reform risks in U.S. markets
- Strategic risk focus shifted toward navigating U.S. drug pricing reforms and increased government healthcare cost containment measures
- Significant stock ownership concentration with Gilead owning 25.1% and management owning 39.5% collectively as of December 31, 2025
- Implementation of exclusive Delaware Court of Chancery forum for stockholder disputes to limit litigation venue options
Risk Factors
- Regulatory risk from Gilead collaboration amendment causing revenue catch-up of $143M in 2025, impacting timing and recognition of license income
- Macroeconomic exposure to collaboration funding variability, e.g., Taiho option revenue dropped from $15M in 2024 to $7M in 2025
- Operational risk of impairment on right-of-use office assets due to 2024 updated space plans, reflecting changing facility requirements
- Market disruption risk from Gilead's voluntary return of etrumadenant license, affecting Arcus's revenue and pipeline strategy
- Financial risk from non-cash interest expenses related to liabilities under BVF royalty sale, impacting net income volatility
Management Discussion & Analysis
- No product sales revenue; all revenue from license, collaboration, and development services agreements
- License and development services revenue recognized based on percentage completion of R&D obligations
- R&D expenses include clinical, payroll, supplies, consulting, contract research; expect near-term R&D decrease due to winding down domvanalimab studies
- Cash, cash equivalents, and marketable securities totaled $1.0 billion as of Dec 31, 2025, sufficient to fund operations until at least H2 2028
- Management highlights risks and uncertainties; key focus on advancing casdatifan and inflammation programs with potential increased late-stage investment
AI summary of the RCUS 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Risk Factors
- New financing risk: $775 million liquidity projected through at least second half of 2028, contingent on disciplined program prioritization
- Clinical-development risk: Phase 3 STAR-221 discontinued after December 2025 interim analysis showed no benefit over standard of care
- Regulatory risk: FDA may require further studies to demonstrate individual contributions in intra-portfolio combination trials
- Operational risk: Paused etrumadenant development in third-line metastatic colorectal cancer to prioritize late-stage programs
- Debt risk: $100 million drawn under Hercules facility, with minimum-cash covenant beginning July 2027
AI summary of the RCUS 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 2.02: Results of Operations and Financial Condition
- Financial results cover the six months ended June 30, 2026
- Press release furnished as Exhibit 99.1 contains the detailed results
Item EX-99.1: Item EX-99.1
- Q2 2026 revenue $41M versus $160M, reflecting the absence of 2025’s $143M etrumadenant catch-up revenue
- Net loss $91M, or $0.72 per share, versus break-even in Q2 2025
Item 5.07: Submission of Matters to a Vote of Security Holders
- All four Class II director nominees elected to serve until the 2029 annual meeting
- Ernst & Young LLP appointment ratified for fiscal 2026, with 112,905,582 votes for
Item 2.02: Results of Operations and Financial Condition
- Q1 2026 results for the three months ended March 31, 2026
- Press release issued May 5, 2026, with full financial details in Exhibit 99.1
Item EX-99.1: Item EX-99.1
- Q1 2026 net loss $128M, or $1.02 per share, versus $112M and $1.14 in Q1 2025
- Cash, equivalents and marketable securities fell to $876M from $1.01B, with runway projected through at least the second half of 2028
AI summaries of RCUS 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for RCUS
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Azoy Alexander | M | Aug 21, 2026 | 2,827 | - |
| Azoy Alexander | Sell | Aug 21, 2026 | 2,827 | $30.00 |
| Azoy Alexander | M | Aug 21, 2026 | 2,827 | $15.44 |
| Jaen Juan C. | Sell | Jul 10, 2026 | 19,799 | $28.61 |
| Jaen Juan C. | Sell | Jul 10, 2026 | 268 | $29.40 |
| Jaen Juan C. | Sell | Jul 9, 2026 | 48,502 | $30.05 |
| Jaen Juan C. | Sell | Jun 24, 2026 | 6,431 | $29.66 |
| Jaen Juan C. | Sell | Jun 23, 2026 | 14,067 | $27.69 |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | $117.0M | $51.0M | $33.0M |
| Operating Income | - | -$330.0M | -$386.0M |
| Net Income | -$307.0M | -$283.0M | -$353.0M |
| Op. Margin | - | -647.1% | -1169.7% |
| Net Margin | -262.4% | -554.9% | -1069.7% |
| Balance Sheet | |||
| Total Assets | - | $1.1B | $1.1B |
| Equity | - | $485.0M | $631.0M |
| ROE | - | -58.4% | -55.9% |
| Per Share | |||
| EPS | $-4.15 | $-3.14 | $-3.29 |
| Cash Flow | |||
| Operating CF | - | -$170.0M | -$482.0M |
| CapEx | $24.0M | $6.0M | $2.0M |
Source: XBRL data in Arcus Biosciences, Inc. (RCUS)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate RCUS share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 31 | $2.42B |
| Q1 2026 | 29 | $1.54B |
| Q4 2025 | 29 | $1.63B |
| Q3 2025 | 30 | $887.4M |
| Q2 2025 | 30 | $528.1M |
| Q1 2025 | 28 | $426.1M |
| Q4 2024 | 22 | $726.9M |
| Q3 2024 | 19 | $125.3M |
- FMR LLC (Fidelity)+2.88M (+248%)
- Citadel Advisors LLC+1.81M (+136%)
- BlackRock+1.19M (+8%)
- State Street Corp+616.6K (+11%)
- Goldman Sachs Group+387.8K (+39%)
- Morgan Stanley−317.6K (-29%)
- D.E. Shaw & Co−163.0K (-63%)
- Ameriprise Financial−6.3K (-4%)
- AQR Capital Management−2.4K (-3%)
- Fifth Third Bancorp−349 (-2%)
- Millennium Management+133.1K
- Blackstone Group+17.7K
- Marex Group plc+12.4K
- Renaissance Technologies LLC−424.7K
Source: 13F-HR filings on SEC EDGAR (aggregated from 218 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
RCUS filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Aug 24, 2026 | - | - | - |
| 8-K | Aug 5, 2026 | - | Analysis | - |
| 10-Q | Aug 5, 2026 | Jun 30, 2026 | Analysis | |
| 4 | Jul 13, 2026 | - | - | - |
| 4 | Jun 24, 2026 | - | - | - |
| 8-K | Jun 12, 2026 | - | Analysis | - |
| 4 | Jun 12, 2026 | - | - | - |
| 4 | Jun 12, 2026 | - | - | - |
| 4 | Jun 12, 2026 | - | - | - |
| 4 | Jun 12, 2026 | - | - | - |
| 4 | Jun 12, 2026 | - | - | - |
| 4 | Jun 12, 2026 | - | - | - |
| 4 | Jun 12, 2026 | - | - | - |
| 4 | Jun 12, 2026 | - | - | - |
| 4 | Jun 1, 2026 | - | - | |
| 4 | May 12, 2026 | - | - | |
| 4 | May 12, 2026 | - | - | |
| 8-K | May 5, 2026 | - | Analysis | - |
| 10-Q | May 5, 2026 | Mar 31, 2026 | Analysis | |
| 8-K | Apr 20, 2026 | - | Analysis | - |
| 8-K | Mar 23, 2026 | - | - | - |
| 10-K | Feb 25, 2026 | Dec 31, 2025 | Analysis | |
| 8-K | Feb 25, 2026 | - | Analysis | - |
| 4 | Jan 26, 2026 | - | - | |
| 4 | Jan 26, 2026 | - | - |
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RCUS SEC filings: frequently asked questions
Are RCUS insiders buying or selling?
In the last 90 days, Arcus Biosciences, Inc. (RCUS) officers, directors and 10% owners reported no open-market purchases and 4 open-market sales worth $2.1 million by 2 insiders on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold RCUS stock?
As of June 30, 2026, the largest Arcus Biosciences, Inc. (RCUS) holders among the 13F filers tracked by SignalX were Gilead Sciences ($968.8 million), BlackRock ($506.1 million), State Street Corp ($185.9 million), Vanguard Portfolio Management LLC ($138.0 million), FMR LLC (Fidelity) ($124.9 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was RCUS's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), Arcus Biosciences, Inc. (RCUS) reported revenue of $33.0 million (down 35.3% from FY2024) and a net loss of $353.0 million. Diluted EPS was -$3.29. The figures come from the XBRL data in the 10-K.
What are the main risks in RCUS's latest 10-K?
In the 10-K filed February 25, 2026, Arcus Biosciences, Inc. (RCUS) flagged: Regulatory risk from Gilead collaboration amendment causing revenue catch-up of $143M in 2025, impacting timing and recognition of license income. Macroeconomic exposure to collaboration funding variability, e.g., Taiho option revenue dropped from $15M in 2024 to $7M in 2025. (AI summary of the Risk Factors section.)
What did RCUS report in its latest 8-K?
Arcus Biosciences, Inc. (RCUS) filed an 8-K on August 5, 2026 reporting Item 2.02 (Results of Operations and Financial Condition). Financial results cover the six months ended June 30, 2026.
What are the latest RCUS SEC filings?
Arcus Biosciences, Inc. (RCUS) filed its latest 10-K annual report on February 25, 2026, a 10-Q quarterly report on August 5, 2026, an 8-K current report on August 5, 2026 and a Form 4 insider filing on August 24, 2026.
What is RCUS's SEC CIK number?
Arcus Biosciences, Inc. (RCUS)'s SEC Central Index Key (CIK) is 1724521. EDGAR lists every RCUS filing under that number.
Ask anything about RCUS
The research agent reads RCUS's filings, financials, insider trades and 13F holders, then answers with sources.