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Arcus Biosciences Inc (NYSE:RCUS) stock has reached a 52-week low, dipping to $8.81, as the biopharmaceutical company faces a challenging market environment. With a market capitalization of $936 million and current ratio of 4.5, the company maintains strong liquidity despite recent challenges. According to InvestingPro data, Arcus holds more cash than debt on its balance sheet. This latest price level reflects a significant downturn from the previous year, with the stock experiencing a 1-year change of -46.37%. Investors are closely monitoring the company’s performance, as the current valuation marks a critical juncture for Arcus Biosciences, which specializes in cancer immunotherapies. InvestingPro analysis suggests the stock is currently undervalued, though analysts anticipate a sales decline in the current year. The market is awaiting the company’s strategic moves to recover from this low point and potentially capitalize on its innovative pipeline to regain investor confidence. Discover 10+ additional exclusive insights about RCUS with an InvestingPro subscription.
In other recent news, Arcus Biosciences has released new data from the ARC-20 study, highlighting the efficacy of its cancer drug candidate, casdatifan, in treating metastatic clear cell renal cell carcinoma (ccRCC). The study reported an objective response rate (ORR) of 25% for patients on a 50 mg twice daily dose, with higher ORRs of 32% and 33% for 50 mg and 100 mg once daily doses, respectively. Additionally, the median progression-free survival (PFS) reached 9.7 months for the 50 mg twice daily cohort. Following the expiration of Gilead Sciences (NASDAQ:GILD)’ option to license casdatifan, Arcus retains global development rights and announced a $150 million stock offering to fund ongoing research, including the PEAK-1 study set for 2025.
Furthermore, H.C. Wainwright analyst Emily Bodnar upgraded Arcus Biosciences’ stock rating to Buy, citing optimism over the casdatifan and cabozantinib combination therapy. Despite this upgrade, H.C. Wainwright adjusted Arcus’s price target to $18, maintaining a Neutral rating after presenting updated ARC-20 study data. The company also reported a robust cash position of approximately $992 million as of December 31, 2024, underscoring its financial stability. Arcus plans to use the proceeds from the stock offering for the clinical development of casdatifan, manufacturing costs, and general corporate purposes.
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