Arcus Biosciences, Inc. (RCUS), a clinical-stage biopharmaceutical company, has seen a gain of 5.96% in the premarket trading session. As a result, RCUS stock is trading at $35.00 at the time of this writing. There’s apparently no news behind this push. On Thursday, RCUS closed the day at $33.03 after it declined by 1.02%. Let’s have a discussion about RCUS stock.
Grant of purchase options
On the 9th of September, RCUS announced that the compensation committee of the company’s Board of Directors had granted five new employees options to purchase 44,200 shares of the Company’s common stock. The Board of Directors has approved an exercise price of $34.31 per share. It was the closing price on the 8th of September 2021. In pursuance of the company’s 2020 Inducement Plan, the company granted the stock options. The company’s Board of Directors approved the 2020 inducement plan in January 2020 pursuant to the inducement exception under NYSE Listed Company Manual Rule 303A.08.
Q2 2021 financials
On 5th of August, RCUS reported the unaudited quarterly results for the second quarter of the fiscal year 2021, which ended 30th June. According to those, the company generated total revenue (collaboration and license revenue) of $9.46 million during the quarter. During the equivalent period of 2020, the company generated $1.75 million during the quarter. The total operating expenses during the quarter were $85.59 million, while during the equivalent period of 2020, these were $47.12 million. The company bore net loss of $75.97 million during the quarter. During the equivalent period of 2020, the net loss was $45.07 million. The net loss per basic and diluted share during the quarter was $1.09. During the equivalent period of 2020, the net loss per basic and diluted share was $0.93. At the end of the quarter, the company had $805.1 million in terms of cash and cash equivalents. At the end of the quarter, the company had total assets of $898.77 million, while total liabilities were $294.21 million. Commenting on the results, Terry Rosen, Ph.D., CEO of Arcus, said that the company has managed to achieve numerous milestones during the quarter. He further said that the company is confident that it would correspond to the ever changing market dynamics.
RCUS presented data from the study
On the 19th of May, RCUS presented the early data from ARC-6, a Phase 1b/2 Study. The study was meant to evaluate the Etrumadenant-Based Combinations in Metastatic Castrate-Resistant Prostate Cancer. In this phase-1b cohort of etrumadenant-based combination, composite ORR of 41% and a PSA response of 35% were monitored. No significant toxicity was observable as the etrumadenant was added. The company announced to present the data in poster session at the American Society of Clinical Oncology Annual Meeting. The meeting had to take place in early June.
Future of RCUS
Recent past was a salutary time for the growth of RCUS stock. The stock has grown by 38% during last quarter and 16% during last one month. Analysts hope that RCUS stock would continue this performance in near future as well. So, potential investors should keep a close eye on RCUS stock.