Welcome to our dedicated page for Precision BioSciences news (Ticker: DTIL), a resource for investors and traders seeking the latest updates and insights on Precision BioSciences stock.
Precision BioSciences, Inc., based in Durham, North Carolina, is a pioneering biotechnology company dedicated to enhancing life through advanced genome editing. The company employs its proprietary genome editing platform, ARCUS, to develop innovative product candidates aimed at treating human diseases and offering solutions in food and agriculture.
ARCUS, distinguished by its compact size, enables the delivery of gene edits to a broader range of cells and tissues using both viral and non-viral methods. This versatility makes it a robust tool in Precision BioSciences' mission to address various health conditions and agricultural challenges.
The company has recently made significant strides in its projects, partnering with multiple organizations to expand its research and product development capabilities. These collaborations have been pivotal in propelling forward the potential applications of ARCUS technology.
Precision BioSciences is actively engaged in several cutting-edge projects that underscore its commitment to innovation. The company's financial health is reflected in its consistent investment in research and development, ensuring sustained growth and advancement in its technology.
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Precision BioSciences (Nasdaq: DTIL) reported strong financial results for Q2 ended June 30, 2021, with total revenues of $68.8 million, a significant increase from $1.1 million in Q2 2020. This surge was driven primarily by a $62.0 million revenue boost from the Servier Agreement. The company also noted a net income of $21.7 million compared to a net loss of $32.7 million in the prior year. R&D expenses rose to $37.2 million, reflecting ongoing investments in its ARCUS-edited CAR T programs. Additionally, Precision continues to advance its gene editing initiatives and has approximately $173.9 million in cash, sufficient to fund operations into 2023.
Precision BioSciences, Inc. (Nasdaq: DTIL) is set to release its financial results for Q2 2021 and provide a business update on August 12, 2021. The company focuses on developing allogeneic CAR T therapies and in vivo gene correction therapies through its proprietary ARCUS® genome editing platform. Designed for therapeutic safety and effectiveness, ARCUS underpins Precision's pipeline, which includes various CAR T immunotherapy candidates and in vivo gene correction therapies aimed at tackling genetic and infectious diseases.
Precision BioSciences, Inc. (Nasdaq: DTIL) has successfully dosed its first patient in a Phase 1 clinical trial of PBCAR19B, a promising allogeneic CAR T therapy for relapsed/refractory non-Hodgkin lymphoma (NHL). This marks the company's fourth CAR T program, showcasing the versatility of its ARCUS genome editing platform. The trial aims to determine the maximum tolerated dose and assess safety, with an initial dose level starting at 2.7 × 108 CAR T cells. Precision believes its immune-evading stealth cell technology will enhance treatment efficacy without prolonged immunosuppression.
Precision BioSciences (DTIL) and SpringWorks Therapeutics (SWTX) announced that the first patient has been dosed in their Phase 1/2a trial combining PBCAR269A, an allogeneic CAR T cell therapy targeting BCMA, with nirogacestat, a gamma secretase inhibitor, for treating relapsed/refractory multiple myeloma.
Precision is also gearing up to share interim results from monotherapy studies and plans to progress PBCAR269B into clinical trials in 2022, highlighting their commitment to developing innovative therapies.
Precision BioSciences Inc. (Nasdaq: DTIL) has made notable advancements in allogeneic CAR T therapies for relapsed/refractory non-Hodgkin lymphoma (NHL). Interim data from the Phase 1/2a study of PBCAR0191 reveal a 75% overall response rate and a 50% complete response rate among 12 patients treated with enhanced lymphodepletion (eLD). Additionally, preclinical results suggest that the new PBCAR19B stealth cell may effectively evade immune rejection. The FDA has accepted the investigational new drug application for PBCAR19B, which is now open for enrollment.
Precision BioSciences, Inc. (Nasdaq: DTIL) has announced the publication of a new paper in Nature Communications detailing preclinical results using its ARCUS nuclease to target and reduce mutant mitochondrial DNA (mtDNA) in vivo. The study led by Dr. Carlos T. Moraes demonstrated effective shifts in mtDNA heteroplasmy and notable safety in mouse models. MitoARCUS achieved up to 60% heteroplasmic shifts in vitro and showed no off-target editing in vivo. This innovative approach to gene editing may hold significant therapeutic promise for mitochondrial diseases, with further research anticipated.
Precision BioSciences (Nasdaq: DTIL) has appointed Alex Kelly as Chief Financial Officer, a position he has held in an interim capacity since December 2020. Kelly joined the company in October 2020 as Chief Corporate Affairs Officer. He will oversee finance, corporate communications, and investor relations, reporting directly to CEO Matt Kane. Shane Barton will continue as the principal accounting officer. Matt Kane praised Kelly's contributions, emphasizing his pharmaceutical experience and role in advancing the company's strategic financial goals related to allogeneic CAR T and gene editing therapies.
Precision BioSciences Inc. (Nasdaq: DTIL) announced that Chief Scientific Officer Derek Jantz, Ph.D., will participate in a fireside chat at the Jefferies Virtual Healthcare Conference from June 1-4, 2021. The chat is scheduled for June 2, 2021, at 1:30 PM ET. Investors and interested parties can access the live webcast on the company's website, with an archived replay available for 30 days. Precision BioSciences focuses on developing allogeneic CAR T and in vivo gene correction therapies using its ARCUS® genome editing platform, aimed at curing genetic and infectious diseases.
Precision BioSciences (Nasdaq: DTIL) announced additional data from its Phase 1/2a study of PBCAR0191, an allogeneic CAR T candidate targeting CD19. The data will be presented at the 2021 ASCO Meeting, June 4-8. The study included 13 patients with relapsed/refractory non-Hodgkin lymphoma, showing 77% had aggressive forms. Results highlighted an acceptable safety profile, with no severe adverse effects reported. The company is also progressing towards the clinical start of PBCAR19B, aimed at enhancing CAR T persistence. A conference call on data review is scheduled for June 4, 2021, at 8:00 a.m. ET.
Precision BioSciences (Nasdaq: DTIL) reported financial results for Q1 2021, achieving revenues of $16.3 million, up from $7.0 million in Q1 2020. The company aims to advance its allogeneic CAR T and in vivo gene editing pipelines, recently reacquiring global rights for its CAR T programs from Servier. A Phase 1 study of PBCAR19B is set to begin in May 2021. Research and development expenses were $25.6 million, with a net loss of $18.7 million or $(0.33) per share, improved from a loss of $(0.52) per share in the previous year.
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