Arcus Biosciences Inc. (RCUS) saw its stock price plummet 9.56% in Tuesday's trading session following the release of its first-quarter financial results. The clinical-stage biopharmaceutical company reported earnings that fell short of analyst expectations, triggering a significant sell-off.

According to the earnings report, Arcus Biosciences posted a Q1 EPS of $-1.14, which was worse than the anticipated loss of $-1.03 per share. This larger-than-expected loss appears to have shaken investor confidence in the company's financial performance and near-term prospects, leading to the sharp decline in stock price.

While specific details about the company's pipeline progress or other operational updates were not immediately available, the market's reaction suggests that investors may be concerned about Arcus Biosciences' cash burn rate and the potential need for additional funding to support its ongoing clinical trials and research programs. As a clinical-stage biotech company, Arcus's valuation is heavily dependent on the success of its drug candidates and its ability to manage expenses effectively.