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Stock impact report

Gilead downgraded at Truist on cancer strategy [Seeking Alpha]

Arcus Biosciences, Inc. (RCUS) 
Last arcus biosciences, inc. earnings: 3/5 04:10 pm Check Earnings Report
Company Research Source: Seeking Alpha
company and its partner Arcus Biosciences' ( RCUS ) recently announced changes to several cancer development programs. The downgrade comes weeks after Foster City, California-based biotech made a $320M equity investment in RCUS and amended their development program for the TIGIT-targeting monoclonal antibody domvanalimab. Changes included plans to discontinue further enrollment in their Phase 3 trial called ARC-10, designed to study domvanalimab in non-small cell lung cancer (NSCLC) as a first-line combination therapy. Truist analyst Robyn Karnauskas argued that the newly prioritized Phase 3 studies, STAR-121 (lung cancer) and STAR-221 (gastrointestinal cancer), will not read out until at least 2025. Both studies are designed to evaluate domvanalimab in combination with chemotherapy and the anti-PD1 monoclonal antibody zimberelimab. The analyst called reprioritization "of chemo combos in lung and other (large) markets as smart, nimble, and cost-efficient," but argued that st Show less Read more
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