Arcus Biosciences Inc

Arcus Biosciences and Summit Therapeutics announced a clinical trial collaboration to combine Arcus's casdatifan with Summit's ivonescimab in clear cell renal cell carcinoma. The study will evaluate safety and efficacy in first-line metastatic disease, with Summit supplying ivonescimab and Arcus sponsoring the trial as a new cohort in its ARC-20 platform. Both companies will share costs and retain commercial rights, and initial data is expected by mid-2027. Arcus also signed a clinical supply agreement with AVEO Oncology on the same day.

Summit Therapeutics reported a second-quarter 2026 loss per share of 28 cents, wider than the Zacks Consensus Estimate of a loss of 26 cents per share, while the company had no revenue as it lacks a marketed product. Research and development expenses fell 24.2% year over year to $157.7 million, and general and administrative expenses plunged 82.6% to $62.8 million, driven by a significant reduction in stock-based compensation, though total operating expenses rose 13% sequentially on higher ivonescimab spending. Cash, cash equivalents and short-term investments stood at $690.7 million as of June 30, 2026, up from $598.7 million at the end of March, after Summit raised $230.8 million in gross proceeds through its at-the-market facility during the quarter and an additional $68.4 million after quarter-end. The lead pipeline candidate, ivonescimab, a dual PD-1/VEGF inhibitor being developed with China-based Akeso, is under FDA review with a decision expected by November 14, 2026 for EGFR-mutant non-small cell lung cancer, and updated overall survival data from the HARMONi study showed a consistent hazard ratio of 0.76 across Western and Asian subgroups. Summit is also running three late-stage studies—HARMONi-3 in first-line metastatic NSCLC, HARMONi-7 in first-line metastatic NSCLC with high PD-L1 expression, and HARMONi-GI3 in first-line metastatic colorectal cancer—and recently announced a collaboration with Arcus Biosciences to evaluate casdatifan plus ivonescimab in clear cell renal cell carcinoma, with initial data expected by mid-2027.

Summit Therapeutics reported a cash position of approximately $690.7 million at the end of the second quarter of 2026, up from the prior quarter. The company's lead investigational asset, Ivanizumab, has generated positive data in four Phase III clinical studies, securing two approvals in China and a pending Biologics License Application with the U.S. FDA. GAAP operating expenses rose to $220.5 million, driven by higher research and development costs. The HARMONY trial showed consistent overall survival benefit across regions, and Summit has initiated over 50 clinical trials for Ivanizumab across a range of solid tumors, while also establishing collaborations with GSK and Arcus Biosciences to explore novel combinations.

Arcus Biosciences announced a clinical trial collaboration with Bristol-Myers Squibb to add its investigational kidney cancer drug casdatifan to Bristol-Myers's ongoing Phase 1/2 ROSETTA RCC-208 trial. The trial is evaluating pumitamig, an investigational bispecific antibody jointly developed by BioNTech and Bristol Myers Squibb for advanced renal cell carcinoma. Arcus will supply casdatifan for two new treatment arms added to the existing trial structure, with both companies retaining full development and commercial rights to their respective drugs. Arcus CEO Terry Rosen stated the collaboration is a top priority to potentially deliver an additional effective TKI-free option in the first-line setting.