Shares of Arcus Biosciences Inc. (RCUS) plummeted 9.56% in Tuesday's trading session following the release of the company's first-quarter financial results. The clinical-stage biopharmaceutical company reported a loss of $1.14 per share, which appears to have disappointed investors and triggered a significant sell-off.

The reported loss of $1.14 per share is notably higher than the expected loss of $1.03 that was forecasted by analysts, according to the earnings calendar released earlier. This wider-than-anticipated loss suggests that Arcus Biosciences may be facing greater financial challenges than previously expected, potentially due to increased research and development expenses or lower-than-projected revenues.

For biotechnology companies like Arcus, which focuses on developing immunotherapy-based treatments for cancer, quarterly financial results can have a substantial impact on investor sentiment. The larger-than-expected loss may raise concerns about the company's cash burn rate and its ability to fund ongoing clinical trials and research programs without additional financing.