Arcus Biosciences (RCUS) Misses Q2 EPS by 21c

Arcus Biosciences (NYSE: RCUS) reported Q2 EPS of ($1.09), $0.21 worse than the analyst estimate of ($0.88). Revenue for the quarter came in at $9.46 million versus the consensus estimate of $13.05 million.

“We have made significant progress advancing our portfolio and partnerships in the first half of 2021,” said Terry Rosen, Ph.D., CEO. “We generated additional clinical data for four of our clinical-stage molecules, across trials in lung, colon, prostate, and pancreatic cancers, that continue to support our ongoing randomized studies. We also advanced our Fc-enabled anti-TIGIT antibody into a Phase 1 study and selected our HIF-2α small molecule to be our sixth clinical-stage molecule, anticipated to enter the clinic by the end of the year. With over $800 million of cash and investments as of the end of the second quarter, and our partnership with Gilead, we are confident we can address and pursue the immense need in these patient populations and the corresponding magnitude of the market opportunities.”

For earnings history and earnings-related data on Arcus Biosciences (RCUS) click here.

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