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HAYWARD, Calif. - Arcus Biosciences, Inc. (NYSE:RCUS), a clinical-stage biopharmaceutical company with a current market capitalization of $1.55 billion, will present the first overall survival results from Arm A1 of its Phase 2 EDGE-Gastric study at the European Society for Medical Oncology Congress on October 18, the company announced in a press release. According to InvestingPro data, the company maintains a strong financial position with more cash than debt on its balance sheet.
The study evaluated domvanalimab plus zimberelimab and chemotherapy in patients with locally advanced unresectable or metastatic gastric, gastroesophageal junction or esophageal adenocarcinoma.
Data showed a median overall survival of 26.7 months, with 50 percent of patients living beyond two years. The treatment demonstrated efficacy across all PD-L1 subgroups, with a median progression-free survival of 12.9 months and a confirmed objective response rate of 59 percent.
"A 26.7-month median overall survival is well beyond what would be required to demonstrate clinically meaningful benefit over standard of care," said Dr. Sun Young Rha, professor at Yonsei University College of Medicine, according to the release. These promising results come as InvestingPro analysis shows the stock has demonstrated strong momentum, with a 78% price return over the past six months, though analysts have recently revised their earnings expectations downward for the upcoming period.
The treatment regimen was generally well tolerated with a safety profile consistent with anti-PD-1 plus chemotherapy. Immune-mediated treatment-emergent adverse events related to the study drugs occurred in 22 percent of patients.
These results support the ongoing Phase 3 STAR-221 study, which is evaluating the same treatment combination in approximately 1,050 participants with similar cancer types.
Domvanalimab is an Fc-silent anti-TIGIT antibody designed to enhance anti-cancer immune response without depleting regulatory T cells, while zimberelimab is an anti-PD-1 monoclonal antibody. Both are investigational molecules that have not received regulatory approval for any use globally.
The study was conducted in partnership with Gilead Sciences. Investors looking for deeper insights into Arcus Biosciences’ financial health and growth prospects can access comprehensive analysis through InvestingPro, which offers exclusive access to over 10 additional ProTips and detailed financial metrics for informed investment decisions.
In other recent news, Arcus Biosciences has made significant strides in the field of kidney cancer treatment. The company’s promising data for its drug casdatifan has led to a series of positive analyst actions. Truist Securities increased its price target for Arcus Biosciences to $39.00, citing casdatifan’s "best-in-class potential" in treating kidney cancer. Meanwhile, Mizuho also raised its price target to $45.00, projecting significant peak sales for the drug in both second-line-plus and first-line indications. H.C. Wainwright reiterated its Buy rating with a price target of $24.00 following Arcus Biosciences’ recent Investor Event, which highlighted new monotherapy data for casdatifan. Cantor Fitzgerald maintained its Overweight rating, emphasizing the company’s advancements in renal cell carcinoma treatment. The encouraging data from Arcus Biosciences’ Phase 1/1b study showed superior results for casdatifan, achieving a median progression-free survival of 12.2 months. These developments reflect Arcus Biosciences’ growing potential in the oncology space.
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