Precision Biosciences - DTIL STOCK NEWS

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.

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.