Arcus Biosciences is a clinical-stage biopharmaceutical company developing small-molecule and antibody drugs for cancer and inflammatory/autoimmune diseases. Arcus has no approved products and generates no product revenue today. Its most advanced program is casdatifan, an oral small-molecule HIF-2α inhibitor for clear cell renal cell carcinoma (ccRCC), a kidney cancer driven by abnormal HIF-2α activity. Casdatifan has shown clinical efficacy superior to Merck's belzutifan — the only approved HIF-2α inhibitor — across response rate, disease control, and progression-free survival. Arcus is running two Phase 3 trials in ccRCC and plans to commercialize casdatifan independently in the U.S. Beyond casdatifan, Arcus has two other late-stage programs: domvanalimab, an anti-TIGIT antibody in Phase 3 for non-small cell lung cancer, and quemliclustat, a CD73 inhibitor in Phase 3 for pancreatic cancer. Arcus also has a preclinical inflammation pipeline targeting diseases like chronic spontaneous urticaria and atopic dermatitis, using oral small molecules designed to displace injectable biologics. Arcus funds its development primarily through a collaboration with Gilead Sciences, which holds licenses to domvanalimab, quemliclustat, and zimberelimab, and shares development costs with Arcus. Gilead pays Arcus milestones, R&D reimbursements, and royalties on ex-U.S. revenues. Casdatifan sits outside the Gilead collaboration; Arcus retains full U.S. rights, while Taiho holds rights in Japan and parts of Asia.