Precision BioSciences, Inc. - DTIL STOCK NEWS

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.

Precision BioSciences, Inc. (NASDAQ: DTIL) announced the approval of inducement awards under its 2021 Employment Inducement Incentive Award Plan for new employees. This includes options to purchase 916,416 shares and 199,454 restricted stock units (RSUs). The stock options have an exercise price of $1.68 and a 10-year term, vesting at 25% after one year and the remaining 75% quarterly over three years. The RSUs vest on the first anniversary. These awards aim to attract talent critical for advancing its ARCUS® gene editing therapies.

Precision BioSciences (NASDAQ: DTIL) has appointed Melinda Brown to its Board of Directors and as Chair of the Audit Committee. Ms. Brown brings extensive experience in finance and risk management from previous roles at large public companies, including Tapestry, Inc. and PepsiCo, Inc. This addition marks the fifth new board member since April 2021, enhancing the board's diverse expertise. Brown expressed enthusiasm for joining a company focused on addressing unmet medical needs through its ARCUS genome editing platform.

Precision BioSciences (NASDAQ: DTIL) has appointed Juli Blanche as Chief People Officer, bringing over 25 years of HR leadership, particularly in the pharmaceutical industry. Previously with Bristol-Myers Squibb, she oversaw a workforce of 11,000 as Senior Vice President, HR Business Partner. CEO Michael Amoroso expressed optimism about her role in enhancing the company's people-focused culture and leadership. Blanche aims to leverage her experience to foster an innovative environment at Precision BioSciences, aimed at advancing gene editing therapies.

Precision BioSciences (DTIL) announced promising preclinical results for its ARCUS gene editing platform aimed at hepatitis B virus (HBV). Key findings include an 85% reduction in cccDNA and a 77% drop in HBsAg in HBV-infected human hepatocytes. The research also showed a 96% decrease in circulating HBsAg in animal models. Collaborating with Gilead Sciences and Acuitas Therapeutics, Precision plans to submit an IND application for its PBGENE-HBV candidate in 2024, marking a potential advancement in HBV treatment options.

Precision BioSciences (Nasdaq: DTIL) presented promising preclinical data on its ARCUS genome editing platform at the ASGCT conference (May 16-19, 2022). Key findings include:

• 98% knockdown of HAO1 protein in non-human primates related to Primary Hyperoxaluria Type 1.
• 85% degradation of Hepatitis B virus cccDNA and 77% reduction in HBsAg levels.
• Successful gene insertion approach for OTC deficiency in NHPs, with stable editing results.

The company plans to advance three product candidates to clinical trials over the next three years.

On May 6, 2022, Precision BioSciences (NASDAQ: DTIL) announced the grant of inducement awards under its 2021 Employment Inducement Incentive Award Plan. These awards consist of stock options totaling 401,905 shares, granted to four new employees who started on March 14, 2022. The options have an exercise price of $1.94, equal to the fair market value on the grant date, and a 10-year term with a vesting schedule. Precision BioSciences focuses on developing ARCUS-based gene editing therapies aimed at treating genetic and infectious diseases.

Precision BioSciences (Nasdaq: DTIL) reported a significant revenue decline to $3.3 million in Q1 2022 from $16.3 million in Q1 2021, primarily due to decreased income from its agreements with Servier and Lilly. R&D expenses decreased to $20 million from $25.6 million, while general and administrative costs rose to $10.7 million. The company posted a net loss of $28.2 million, compared to a loss of $18.7 million a year earlier. Key updates include anticipated progress in their CAR T programs and in vivo gene editing initiatives, with updates planned for June 2022.