Arcus Biosciences

Q2 FY2026 EarningsRCUS Q2 FY26 outperformed consensus on both top and bottom lines. Revenue reached $41M, significantly beating the $22M consensus, driven by a $21M recognition of access rights following the expiration of Gilead’s broader option rights. Diluted GAAP EPS of -$0.72 beat the expected -$0.89 mean, supported by disciplined R&D spending ($113M vs $139M YoY) as the company winds down domvanalimab Phase 3 studies. With $775M in liquidity, management extended its cash runway guidance into the second half of 2028.