Arcus Biosciences, Inc. (NYSE: RCUS) was featured in a recent equity research report published by Mizuho Securities USA LLC. The report reads, “We like shares of RCUS based on the combinatorial approach to development of its immuno-oncology (I/O)-focused pipeline. The 4Q19 EPS update reaffirmed the development strategy for 2020, including catalysts for initial data for AB928+FOLFOX in mCRC (AACR) and preliminary randomization data from AB154 (anti-TIGIT) in 1st-line NSCLC. The shares have rallied this year based on interest in AB154, in our view, which is understandable following the external validation of the program via competitor advancement into Phase III, as well as visibility on clinical data this year. Based on higher R&D and G&A expenses in 4Q19, we are modestly lowering our 2020 EPS forecast to ($2.30) from ($2.19) and we reiterate our $22 PT.”
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About Arcus Biosciences, Inc.
Arcus Biosciences is an oncology-focused biopharmaceutical company leveraging its deep cross-disciplinary expertise to discover highly differentiated therapies and to develop a broad portfolio of novel combinations addressing significant unmet need. AB928, the first and only dual A2a/A2b adenosine receptor antagonist in the clinic, is being evaluated in several Phase 1b/2 studies across multiple indications, including prostate, colorectal, non-small cell lung, pancreatic, triple negative breast and renal cell cancers. AB680, the first CD73 small-molecule inhibitor in the clinic, is in Phase 1/1b development for the treatment of first-line metastatic pancreatic cancer. AB154, an anti-TIGIT monoclonal antibody, is in Phase 2 development for the treatment of first-line metastatic non-small cell lung cancer in combination with zimberelimab and AB928. Zimberelimab (AB122), Arcus’s anti-PD1 monoclonal antibody, is being evaluated in a Phase 1b study as monotherapy for cancers with no approved anti-PD1 treatment options, as well as in combinations across the portfolio. For more information about Arcus Biosciences, please visit www.arcusbio.com.
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