Arcus Biosciences Inc. (NASDAQ:RCUS) has announced Q3 2020 financial results for the quarter ended September 30, 2020, and provided its business updates.
Arcus advancing its clinical-stage molecules through partnerships
Terry Rosen, the company’s CEO, said that the company continues to advance its four clinical-stage molecules, and in the quarter, it entered an all-in collaboration with Gilead. Rosen said that the company also entered a collaboration with AstraZeneca recently, and at the end of the quarter, it had $758 million in cash. As a result, the company is in a better position to leverage opportunities afforded by its pipeline. In 2021, Rosen expects the year to be pivotal to the company with clinical readouts for its four clinical-stage molecules, offering evidence on clinical benefit.
The company commenced its 10-year collaboration with Gilead Sciences for joint development and commercialization of next-generation oncology therapies during the quarter. The collaboration will allow Arcus to leverage Gilead’s financial and operational resources while preserving its ability to develop and advance molecules into early clinical development quickly. Under the terms of the agreement, Gilead will receive zimberelimab co-development and co-commercialization rights with an option to license other investigational products from Arcus’s programs.
Arcus enters collaboration with AstraZeneca on domvanalimab
The partnership with AstraZeneca will be regarding the PACIFIC-8, a registrational study evaluating Arcus’ anti-TIGIT antibody, domvanalimab, combined with imfinzi® in Stage II unresectable NSCLC. Currently, Imfinzi is the only approved immunotherapy for the indication. The trial will evaluate this immunotherapy combination, which can enhance efficacy and also improve long-term survival, which Imfinzi has shown in the setting.
In Q4, the company will present ARC-3 study data evaluating etrumadenant and mFOLFOX-6 in metastatic colorectal cancer at the Annual Society of Immunotherapy Cancer Meeting. Also, Arcus will present initial ARC-2 study results evaluating the combination of etrymadenant and pegylated liposomal doxorubicin with/without eganelisib in gynecological cancers at the Annual San Antonio Symposium Meeting. The company is also planning to file an IND for AB308, its FcR-competent anti-TIGIT antibody.