Precision Biosciences - DTIL STOCK NEWS

Precision BioSciences, Inc. (Nasdaq: DTIL), a clinical-stage gene editing company, will participate in the H.C. Wainwright Cell Therapy Virtual Conference on February 28, 2023. The event will feature a virtual fireside chat at 2:00 PM ET, accessible via a live webcast on the company's website. An archived replay will be available for 30 days post-event. Precision BioSciences focuses on developing ex vivo allogeneic CAR T and in vivo gene editing therapies using its proprietary ARCUS® platform, aiming to treat genetic and infectious diseases with no adequate treatments. For details, visit website.

Precision BioSciences (Nasdaq: DTIL) announced on February 9, 2023, that its Compensation Committee approved grants of inducement awards to eight new employees under the 2021 Employment Inducement Incentive Award Plan. The awards consist of stock options for a total of 159,097 shares with an exercise price of $1.13 per share. Each option has a 10-year term and vests 25% after one year, with the remaining 75% vesting quarterly over three years. This plan aims to attract and retain talent in the competitive biotechnology sector as Precision advances its ARCUS® genome editing platform and related therapies.

Precision BioSciences (DTIL) reported substantial achievements in 2022, including a collaboration with Novartis for gene editing in sickle cell disease, and bolstering its cash reserves by $125 million. The company highlighted a 100% response rate in its Phase 1b study of azer-cel and outlined significant goals for 2023, including advancing azer-cel towards a Phase 2 trial and submitting an IND application for its HBV program by 2024. The firm expects $190 million in cash equivalents as of December 31, 2022, sufficient for operations until 2025.

Precision BioSciences (DTIL) has received supportive feedback from the FDA regarding its CMC processes for the allogeneic CAR T therapy azer-cel, aimed at treating relapsed or refractory non-Hodgkin lymphoma. This marks a crucial developmental step as the company aligns its processes with regulatory expectations. The FDA's insights pertain to analytical methods and manufacturing processes that are essential for azer-cel’s ongoing trials. The firm envisions azer-cel becoming the first marketed allogeneic CAR T therapy, addressing a significant patient need.

Precision BioSciences (NASDAQ: DTIL) presented data on its allogeneic CAR T candidate, Azercabtagene Zapreleucel (azer-cel), highlighting the significant relationship between CAR T cell composition, effective cell dose, and clinical outcomes. The analysis, showcased at the American Society of Hematology Annual Meeting, indicated that CAR T expansion correlates strongly with effective cell dose. The investigational product is currently undergoing Phase 1/2a trials for patients with relapsed/refractory B-cell lymphoma.

iECURE has completed a $65 million Series A-1 financing round, co-led by Novo Holdings and LYFE Capital, raising its total funding to $115 million. This capital will support pre-IND activities and clinical trial initiation for its lead product targeting Ornithine Transcarbamylase (OTC) deficiency, alongside efforts for Citrullinemia Type 1. Key appointments to the Board of Directors were made, including members from Novo Ventures and LYFE Capital. The company aims to develop mutation-agnostic gene therapies for liver disorders with high unmet medical needs.

Precision BioSciences, Inc. (DTIL) announced that Dr. Raymond Schinazi has stepped down from its Board of Directors, effective November 5, 2022. He will continue to contribute as a member of the Scientific Advisory Board. His tenure on the board began in early 2019, during which he provided valuable insights into the company's CAR T and gene editing pipeline. The company is focused on developing innovative therapies for unmet medical needs, including a potential cure for chronic hepatitis B, leveraging its proprietary ARCUS genome editing platform.

Precision BioSciences reported Q3 2022 results, revealing revenues of $7.4 million, a significant drop from $24 million in Q3 2021, mainly due to the absence of previous revenue linked to the iECURE Agreement. The company's net loss widened to $23.9 million, or $(0.22) per share, up from $11.3 million, with diluted shares increasing to about 110.8 million. Positive highlights include a strong cash position of $212.1 million expected to fund operations through 2024 and advancements in CAR T programs aimed at treating relapsed non-Hodgkin lymphoma. Updates on clinical trials are anticipated in late Q4 2022 or early Q1 2023.

On November 2, 2022, Precision BioSciences (DTIL) announced the approval of inducement awards for 15 new employees, comprising stock options for 272,352 shares at an exercise price of $1.39. The options are part of the 2021 Employment Inducement Incentive Award Plan, and will vest over four years. Precision BioSciences focuses on developing ARCUS-based gene editing therapies, aimed at treating genetic and infectious diseases.