Precision BioSciences, Inc. - DTIL STOCK NEWS

Precision BioSciences, Inc. (DTIL) announced key developments in its second quarter 2022 update. The company launched a collaboration with Novartis for an in vivo gene insertion treatment targeting hemoglobinopathies. They reported a cash balance of approximately $184.1 million, extending their financial runway through 2024. Interim results from the PBCAR0191 CAR T study showed a 100% overall response rate among relapsed subjects. However, total revenues fell to $3.8 million, down $65 million year-over-year, primarily due to the absence of previous revenues from the Servier Agreement.

Precision BioSciences (NASDAQ: DTIL) will release its Q2 2022 financial results and provide a business update on August 8, 2022. The company is focused on advancing its proprietary ARCUS® genome editing platform, which targets both ex vivo CAR T immunotherapies and in vivo gene editing therapies. Precision BioSciences aims to address genetic and infectious diseases lacking adequate treatments, showcasing its commitment to therapeutic safety and delivery.

Precision BioSciences (Nasdaq: DTIL) announced on July 19, 2022, that its Compensation Committee has approved inducement awards for new employees. A total of 583,302 stock options were granted under the 2021 Employment Inducement Incentive Award Plan. The options have an exercise price of $1.54 and will vest over four years, beginning with 25% after the first year. This decision reflects the company's strategy to attract talent while advancing its ARCUS-based gene editing therapies aimed at treating genetic diseases.

Precision BioSciences, Inc. (Nasdaq: DTIL) has closed an underwritten offering of 35,971,224 shares of common stock at $1.39 per share, raising approximately $50 million before expenses. The proceeds will be allocated to ongoing research, development, and general corporate purposes. New investors include Great Point Partners and EcoR1 Capital, among others. With additional funding from Novartis, the company anticipates sufficient capital to support operations through 2024, leveraging its ARCUS genome editing platform for innovative therapies.

Precision BioSciences, trading under the symbol DTIL, has announced an underwritten stock offering of 35,971,224 shares at $1.39 per share, aiming for gross proceeds of approximately $50 million. The offering is expected to close around June 24, 2022. Proceeds will be utilized for ongoing research and development, working capital, and general corporate purposes. Jefferies is the leading manager for the offering. The company leverages its proprietary ARCUS genome editing platform to advance its therapeutic candidates.

Precision BioSciences has entered a significant collaboration with Novartis to develop a specialized ARCUS nuclease for in vivo gene editing, targeting diseases like sickle cell disease and beta thalassemia. Precision will receive an upfront payment of $75 million and could earn up to $1.4 billion in milestone payments and royalties. This collaboration extends Precision's cash runway into Q2 2024, enhancing its potential for innovative gene therapies. A conference call is scheduled for June 22, 2022 to discuss this partnership.

Precision BioSciences (DTIL) reported promising updates from its allogeneic CAR T pipeline, especially for PBCAR0191, which achieved a 100% overall response rate and a 73% complete response rate among evaluable CAR T relapsed patients. The company also noted a 50% durable response lasting over six months. Progress continues in the PBCAR19B and PBCAR269A programs, with a manufacturing optimization for PBCAR19B and advancements in the ongoing PBCAR269A study. Financially, the company had approximately $121 million in cash as of May 31, 2022.

Precision BioSciences, Inc. (Nasdaq: DTIL) announced a webcast and conference call on June 8, 2022, at 8:00 AM ET to update on its allogeneic CAR T programs. The company aims to share the latest clinical data on its lead candidate, PBCAR0191, designed for patients who have relapsed after CAR T therapy. Chief Medical Officer Alan List emphasized the significant unmet need in the CAR T relapse area.

Precision BioSciences is focused on developing innovative gene editing therapies using ARCUS technology to address genetic disorders and enhance patient treatment options.

Precision BioSciences, Inc. (NASDAQ: DTIL) announced its participation in the Jefferies Healthcare Conference from June 8-10, 2022. The in-person fireside chat will occur on June 9 at 4:00 PM ET at the New York Marriott Marquis. A live webcast of the event will be accessible on the company’s website, with an archived replay available for 30 days post-event. Precision BioSciences specializes in gene editing therapies using its proprietary ARCUS® platform, focusing on CAR T immunotherapy and gene editing candidates to treat genetic diseases.