What does anti-pd-1 — development milestone expense mean?

Reflects expenses recognized when specific research and development objectives are met for anti-PD-1 programs, often under collaboration or licensing agreements. These payments are indicative of the progress made in the drug discovery and clinical testing phases. High levels of these expenses demonstrate active development efforts but also represent significant cash outflows for the company.

Arcus Biosciences RCUS anti-PD-1 — Development milestone expense

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$36.65M+13.0%

ZYMEExpense for other preclinical and research programs — R&D

$7.26M+19.6%

Other financials

Income statement

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Revenue$17.0M-39.3%

Operating income-$134.0M-9.8%

Net income-$128.0M-14.3%

EPS (diluted)-$1.02+10.5%

Balance sheet

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Cash & equivalents$201.0M+4.7%

Total debt$113.0M+88.3%

Total equity$524.0M-1.3%

Total assets$997.0M-13.8%

Cash flow

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Operating cash flow-$138.0M-4.5%

CapEx--100%

Free cash flow-$138.0M-3.8%

Valuation

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Market cap$3.62B+226%

Enterprise value$3.53B+275%

P/S15.4×+7.5×

Profitability

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Operating margin-168.6%-52.7pp

Net margin-156.4%-47.5pp

FCF margin-207.2%—

Returns & leverage

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Return on equity-70%+8.4pp

Debt / equity0.2×+0.1×

Current ratio4×-1.3×

Where this comes from

Reported directly by Arcus Biosciences in its filing.

Tagged under the XBRL concept rcus:MilestoneExpense.

The official record: Arcus Biosciences’s 10-Q, filed May 5, 2026, on SEC EDGAR. View the filing →

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What is Arcus Biosciences's anti-pd-1 — development milestone expense?: Arcus Biosciences (RCUS) reported anti-pd-1 — development milestone expense of $0 in Q1 2026.
What does anti-pd-1 — development milestone expense mean?: Reflects expenses recognized when specific research and development objectives are met for anti-PD-1 programs, often under collaboration or licensing agreements. These payments are indicative of the progress made in the drug discovery and clinical testing phases. High levels of these expenses demonstrate active development efforts but also represent significant cash outflows for the company.