Summary of Arcus Biosciences FY Conference Call Company Overview - **Company**: Arcus Biosciences (NYSE:RCUS) - **Founded**: Approximately 10 years ago with a focus on small molecule drug development, particularly in oncology and immunology [2][3] Key Points on Oncology Programs - **Current Portfolio**: Two late-stage oncology programs and an emerging immunology portfolio [2] - **Financial Position**: Well-capitalized with $1 billion in cash, expected to last until the second half of 2028, covering initial phase three readouts and early immunology program proof of concept [3] Casdatifan Program - **Target**: HIF-2, validated by Merck's Belzudafan, which has a run rate of $800 million annually in late-line settings [5] - **Clinical Data**: - Casdatifan shows a median progression-free survival (PFS) of over 12 months compared to 5.6 months for Belzudafan in late-line settings [9] - Casdatifan demonstrates deeper and more durable suppression of erythropoietin production than Belzudafan [8] - **Market Opportunity**: Estimated at $5 billion, with potential to become the standard of care in kidney cancer [7][22] - **Development Strategy**: - PEAK-1 study combines casdatifan with TKI cabozantinib, expected to enroll quickly [11] - Plans to establish a TKI-sparing regimen in the front line, addressing the high rate of primary progression associated with current treatments [12][35] Quemliclustat Program - **Focus**: Small molecule CD73 inhibitor for front-line pancreatic cancer, showing a median overall survival (OS) of approximately 16 months compared to 9-11 months for standard care [17] - **Market Potential**: Estimated at over $4 billion [18] Immunology Programs - **Focus**: Targeting validated settings with high commercial potential using small molecules [19] - **MRGPRX2 Antagonist**: Aiming to treat atopic skin diseases, expected to enter the clinic in 2026 [19] - **Selective TNF Receptor 1 Inhibitor**: Anticipated to enter the clinic by late 2026 or early 2027, addressing limitations of current TNF antibodies [20][22] Strategic Insights - **Partnerships**: Shift from leveraging partnerships for capital to focusing on clinical collaborations that enhance internal programs [29][30] - **Market Recognition**: The market for casdatifan is underappreciated, with potential for long-term patient treatment leading to significant revenue [45] Financial and Operational Outlook - **Cash Needs**: Recent disappointing results from the STAR-221 trial have extended cash runway into the second half of 2028 [41] - **Execution Focus**: Emphasis on executing the development strategy and maintaining a diverse portfolio to mitigate binary risks associated with drug development [25][46] Conclusion - **Differentiation**: Arcus Biosciences stands out due to its ability to run late-stage trials while maintaining a robust discovery pipeline, positioning itself competitively against larger biotech firms [46][47]

Arcus Biosciences J.P. Morgan Healthcare Conference 2026 Oncology and Immunology Portfolio January 14, 2026 Forward-looking Statements/Safe Harbor Forward-Looking Statements Safe Harbor: This presentation contains forward-looking statements about Arcus Biosciences, Inc. ("we," "Arcus" or the "Company") made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements in this presentation that are not historical facts are forward-looking statements, including ...

Core Insights - Arcus Biosciences has announced the discontinuation of the Phase 3 STAR-221 study due to futility, following a recommendation from the Independent Data Monitoring Committee after an interim analysis of overall survival [1][2]. Study Discontinuation - The STAR-221 study evaluated the combination of anti-TIGIT antibody domvanalimab and anti-PD-1 antibody zimberelimab with chemotherapy against nivolumab plus chemotherapy for untreated patients with advanced gastric and esophageal cancers [2]. - The interim analysis revealed that the domvanalimab-based combination did not improve overall survival compared to nivolumab plus chemotherapy, with a similar safety profile and no new safety findings [3]. Future Directions - Arcus will focus its R&D efforts on casdatifan, a potential best-in-class HIF-2α inhibitor, which has shown strong single-agent activity in over 120 late-line clear cell renal cell carcinoma (ccRCC) patients in the ARC-20 Phase 1/1b study [5]. - Key milestones for casdatifan include additional analyses in early 2026, more mature combination data by mid-2026, and potential initiation of a Phase 3 trial in late 2026 [6][7]. Oncology Pipeline - Arcus is advancing quemliclustat, a small-molecule CD73 inhibitor, with the Phase 3 PRISM-1 trial in first-line metastatic pancreatic ductal adenocarcinoma having completed enrollment earlier this year, with results expected in 2027 [8]. Immunology and Inflammation Pipeline - The immunology and inflammation portfolio includes several oral small-molecule programs, with two candidates expected to enter clinical trials in the near future [10][11].

Summary of Arcus Biosciences Investor Event - October 2025 Company Overview - **Company**: Arcus Biosciences - **Focus**: Development of innovative cancer therapies, particularly in renal cell carcinoma (RCC) and immunology - **Key Programs**: Castadafen (HIF2 inhibitor), domvanalimab (anti-TIGIT), quemliclustat (CD73 inhibitor) - **Financial Position**: Over $900 million in funding to support late-stage programs and clinical trials [7][8][14] Key Points on Castadafen - **Priority Program**: Castadafen is the highest priority program due to its scientific, clinical, and commercial validation [3][4] - **Market Potential**: The clear cell RCC market opportunity is estimated at approximately $5 billion, with additional potential in other cancers leading to a total market exceeding $10 billion [15][18] - **Clinical Data**: - Castadafen shows approximately twice the progression-free survival (PFS) compared to belzutifan, with a 50% lower rate of primary progression [17][43] - Confirmed overall response rate (ORR) for castadafen is 35%, compared to 22% for belzutifan [32][43] - Median PFS for castadafen is projected to exceed 12 months, with 60% of patients remaining progression-free at 12 months [40][41] - **Safety Profile**: Castadafen has a comparable safety profile to belzutifan, with serious adverse events (SAEs) at 31% and treatment-related SAEs at 6% [43][44] Other Programs - **Domvanalimab**: Focused on upper GI cancers, with an oral presentation at ESMO expected to provide overall survival data [5][6] - **Quemliclustat**: CD73 inhibitor showing unprecedented overall survival of 16.4 months in combination with gemcitabine/nab-paclitaxel [6][14] Clinical Trials and Collaborations - **PEAK-1 Study**: Ongoing phase 3 study for castadafen in frontline clear cell RCC, with strong enrollment expected due to investigator enthusiasm [12][14] - **Collaboration with AstraZeneca**: Cost-sharing arrangement while maintaining 100% commercial rights to castadafen [13][14] - **Taiho Collaboration**: Potential decision from Taiho regarding participation in the castadafen program [13] Market Competition - **Competitive Landscape**: Competing against major players like Merck and Roche, with a focus on addressing significant medical needs in large markets [14][15] - **Strategic Positioning**: Arcus aims to leverage its well-funded status and strong data to capture market share in the competitive landscape of RCC treatments [14][15] Insights from Key Opinion Leaders - **Dr. Raina McKay**: Emphasized the need for improved treatment options in RCC, highlighting the limitations of current therapies like belzutifan [48][52] - **Patient Journey**: Discussed the typical RCC patient journey and the importance of long-term treatment strategies [49][50] Conclusion - **Future Outlook**: Arcus Biosciences is well-positioned to capitalize on its innovative therapies, particularly castadafen, with strong clinical data and a robust financial foundation to support ongoing and future studies [7][8][15]

Summary of Arcus Biosciences FY Conference Call (September 10, 2025) Company Overview - **Company**: Arcus Biosciences (NYSE: RCUS) - **Industry**: Biotechnology, specifically focused on oncology Strategic Priorities - **Execution of Phase III Programs**: The primary focus is on the global Phase III program for casdatifan, a HIF2 inhibitor, with two studies targeting earlier line settings in renal cell carcinoma (RCC) [2][3] - **Funding and Partnerships**: The company has received significant funding from partners like Gilead Sciences, AstraZeneca, and Taiho Pharmaceutical, allowing them to operationalize only two of five Phase III studies [2] - **Capital Preservation**: The company has over $900 million in cash and is focused on conserving capital by pausing less strategic initiatives [8] Pipeline Highlights - **Casdatifan**: - Targeting RCC with a market opportunity of approximately $5 billion in G7 countries [4] - Data from 90 patients showed clear differentiation from Merck's belzutifan on efficacy measures [3] - Upcoming data presentation on 120 patients expected to provide more follow-up information [4][12] - **Domvanalimab**: - An Fc-silent anti-TIGIT antibody being evaluated in combination with anti-PD-1 and chemotherapy in first-line gastric cancer [5] - Expected readout in 2026 from a 1,000-patient study [5] - **Quemliclustat**: - A small molecule CD73 inhibitor in combination with chemotherapy for first-line pancreatic cancer, with a 600-patient study expected to provide data soon [5] Competitive Landscape - **FDA Interactions**: The company reports steady communication with the FDA, with no significant impact from recent changes in agency policies [10] - **Benchmarking Against Belzutifan**: - Casdatifan has shown a confirmed overall response rate (ORR) of 33%, significantly higher than belzutifan's 18%-22% [14] - Progression-free survival (PFS) for casdatifan was reported at 9.7 months, compared to belzutifan's 5.6 months [15][16] Market Opportunities - **Gastric Cancer**: The market opportunity for TAP greater than 5 is estimated at $3 billion in G7 countries [70] - **Lung Cancer**: The lung cancer market is projected to exceed $10 billion, with potential for multiple players [77] Collaboration and Partnerships - **Collaboration with AstraZeneca**: AstraZeneca is operationalizing the Evolve study, which is capital-efficient for Arcus, allowing them to retain all economic rights [48] Intellectual Property - **IP Duration**: Casdatifan has a patent life extending to 2041, providing a long-term competitive advantage [51] Conclusion - Arcus Biosciences is strategically positioned with a robust pipeline and significant market opportunities in oncology, particularly with casdatifan and its combination therapies. The company is focused on execution, capital preservation, and leveraging partnerships to enhance its operational efficiency and market presence.

Pipeline and Programs - Arcus Biosciences has $927 million in cash, cash equivalents, and marketable securities as of June 30, 2025, funding operations through initial pivotal readouts for domvanalimab, quemliclustat, and casdatifan, including PEAK-1[10] - Casdatifan plus cabozantinib showed a confirmed ORR of 46% in patients who reached a minimum of 12 weeks of follow-up in IO-experienced ccRCC[16] - In first-line PDAC, a Phase 1 study showed a median overall survival (mOS) of 157 months (n=122) for patients treated with a quemliclustat-based regimen, exceeding historical benchmarks for chemotherapy alone (85 – 117 months)[108] - The company is targeting substantial market opportunities with three late-stage programs: Post-IO ccRCC (~$2B), IO-naive ccRCC (~$3B), 1L Gastric/GEJ/EAC (~$3B), 1L NSCLC (~$10B), and 1L PDAC (>$4B)[12] Casdatifan (HIF-2α Inhibitor) - Casdatifan plus cabozantinib in IO-experienced ccRCC demonstrated a high confirmed overall response rate (cORR) of 46% with a low rate of primary progression of 4%[29] - Casdatifan monotherapy in 2L+ ccRCC showed a confirmed ORR ranging from 21% to 33% across three cohorts, with median progression-free survival (PFS) of 97 months in the 50mg BID cohort[53] - Casdatifan achieves similar PD effect (EPO suppression) at only 20mg, one-fifth the "going forward" dose of 100mg[21] Domvanalimab (Anti-TIGIT mAb) - In the Phase 2 EDGE-Gastric study, patients with TAP ≥ 5% had a median PFS of 138 months, while those with TAP < 5% had a median PFS of 113 months[82] - In 1L PD-L1 High NSCLC, domvanalimab + zimberelimab showed a median PFS of 93 months compared to 54 months for zimberelimab alone, with a HR of 067[90] - In 1L PD-L1 High NSCLC, domvanalimab + zimberelimab showed a HR of 064 for overall survival (OS) compared to zimberelimab alone[90] Partnerships - Arcus retains co-promotion rights and profit share in the US, with high-teens to low-20's royalties on ex-US sales[19] - Taiho has development/commercial rights in Japan and the rest of Asia (ex-China), with up to $275 million in milestones per program and high single-digit to mid-teens royalties[19]

Casdatifan (Cas) & Cabozantinib (Cabo) Combination Therapy - The combination of Cas and Cabo shows a confirmed Overall Response Rate (ORR) of 46% in patients eligible for a minimum of 12 weeks follow-up [32] - In the Cas + Cabo cohort, 98% of patients experienced any treatment-related Adverse Events (AEs) [46] - The median duration of follow-up for patients on Cas 100mg QD + Cabo 60mg QD was 37 months [43] Casdatifan Development and Market Opportunity - Arcus Biosciences has $1 billion in cash to fund pivotal readouts for Domvanalimab (dom), Quemliclustat (quemli), and Casdatifan (cas), including the PEAK-1 trial [12] - Belzutifan prescriptions have grown 154% from December 2023 to April 2025 [74] - Belzutifan achieved LTM sales of >$560 million in the US, with run rate sales based on April Rx's at $720 million+ [75] Clinical Trial and Future Development - PEAK-1, a Phase 3 study, is expected to initiate imminently for post-IO ccRCC, randomizing patients to either 100mg Casdatifan + Cabozantinib or Placebo + Cabozantinib in a 2:1 ratio with approximately 700 patients [67, 68] - Arcus is targeting a $3 billion market opportunity in IO-naive metastatic ccRCC with Casdatifan + Volrustomig (volru) [85] - Arcus is also targeting a $2 billion market in post-IO metastatic ccRCC with Casdatifan + Cabozantinib [85]

COMBINING TO CURE ® Arcus is at the forefront of designing combination therapies, with best-in-class potential, in the relentless pursuit of cures for cancer. May 6, 2025 CORPORATE PRESENTATION Notice of Trademark: The Arcus name and logo are the property of Arcus. All other trademarks used herein are the property of their respective owners and are used for reference purposes only. Such use should not be construed as an endorsement of Arcus. Forward-Looking Statements/Safe Harbor Forward Looking Statements ...