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), an advanced gene editing company, has announced the grant of inducement awards to two new employees under its 2021 Employment Inducement Incentive Award Plan. The awards, approved by the Compensation Committee on September 18, 2024, include:
1. Stock options to purchase 66,523 shares of common stock with a per-share exercise price of $9.60, vesting 25% after one year and the remaining 75% in quarterly installments over three years.
2. 1,841 restricted stock units (RSUs) vesting in equal annual installments over three years.
These awards were granted under Nasdaq Listing Rule 5635(c)(4) as inducements for the employees to join Precision BioSciences. The company utilizes its proprietary ARCUS® platform to develop in vivo gene editing therapies for sophisticated gene edits, including gene elimination, insertion, and excision.
Precision BioSciences (Nasdaq: DTIL) has announced key changes to its clinical leadership team, strengthening its capabilities in infectious diseases and hepatitis. Murray Abramson, MD, MPH has been appointed as Senior Vice President, Head of Clinical Development, overseeing all clinical activities including the lead PBGENE-HBV program. John Fry joins as Strategic Clinical Advisor, specializing in hepatitis and supporting the PBGENE-HBV clinical development strategy. These appointments come as Precision prepares to initiate development of its first in vivo gene editing candidate for hepatitis.
Additionally, Alan List, MD, Chief Medical Officer, will retire effective September 13, 2024, transitioning to a role as clinical consultant and member of Precision's Scientific Advisory Board. These changes aim to bolster the company's expertise as it advances its gene editing therapies, with anticipated Phase 1 data milestones for PBGENE-HBV in 2025.
Precision BioSciences (Nasdaq: DTIL), an advanced gene editing company, announced its participation in the H.C. Wainwright 26th Annual Global Healthcare Conference from September 9-11, 2024 in New York. The company will be involved in two key events:
1. A panel discussion on 'Cutting-Edge Approaches to Viral Hepatitis: Is a Cure on the Horizon?' on September 9, 2024, from 11:00-12:00PM ET, featuring Dr. Cassie Gorsuch, VP of Gene Therapy Discovery.
2. A fireside chat on September 10, 2024, from 5:00-5:30PM ET, which will be available via webcast on Precision's website for approximately 30 days after the event.
Precision BioSciences utilizes its proprietary ARCUS® platform to develop in vivo gene editing therapies for sophisticated gene edits, including gene elimination, insertion, and excision.
Precision BioSciences (Nasdaq: DTIL) has received $13 million from Imugene as part of their August 2023 azer-cel deal. The payment includes $9.75 million in cash and $3.25 million in Imugene shares. This reinforces Precision's expected cash runway into the second half of 2026. The company is focusing on in vivo gene editing and plans to generate Phase 1 clinical data across multiple programs starting in the first half of 2025. Precision is also preparing to file applications for PBGENE-HBV for chronic hepatitis B later this year. The company had approximately $123.6 million in cash and cash equivalents as of June 30, 2024, before receiving the Imugene payment.
Precision BioSciences (Nasdaq: DTIL) announced that its partner TG Therapeutics has received FDA clearance for its Investigational New Drug (IND) Application to investigate Azercabtagene Zapreleucel (azer-cel) in human clinical trials for progressive forms of multiple sclerosis. Azer-cel is an experimental allogeneic CAR T therapy developed by Precision BioSciences and licensed to TG Therapeutics for autoimmune diseases. TG Therapeutics plans to start a phase 1 clinical trial in 2024.
In January 2024, Precision BioSciences licensed azer-cel to TG Therapeutics for autoimmune diseases, receiving $17.5 million in upfront and near-term economics, with potential for up to $288 million in milestone payments and high-single-digit to low-double-digit royalties on net sales.
Precision BioSciences (Nasdaq: DTIL) reported Q2 2024 financial results and provided a business update. Key highlights include:
1. PBGENE-HBV for Chronic Hepatitis B and PBGENE-PMM for m.3243 mitochondrial disease on track for IND/CTA submissions in 2024 and 2025.
2. Expanded Hepatitis Scientific Advisory Board with addition of Mark Sulkowski, M.D. and Jordan Feld, M.D., M.P.H.
3. Expected cash runway into the second half of 2026.
4. Regained control of three advanced preclinical programs, including a novel gene editing approach for Duchenne Muscular Dystrophy.
5. Q2 2024 revenue: $49.9 million, up from $19.8 million in Q2 2023.
6. Net income: $32.7 million, or $4.70 per share (basic) and $4.67 per share (diluted), compared to a net loss of $11.9 million in Q2 2023.
7. Cash and cash equivalents: $123.6 million as of June 30, 2024.
Precision BioSciences (Nasdaq: DTIL), an advanced gene editing company, has announced its participation in two upcoming investor conferences in August 2024. The company will attend the BTIG Biotechnology Conference on Monday, August 5, and the Sidoti Micro Cap Conference on Thursday, August 15.
At the Sidoti conference, Precision will give a virtual presentation from 10:00 am to 10:30 am ET. A live webcast of this presentation will be available on the company's website in the Investors section under Events & Presentations, with an archived replay accessible for about 30 days after the event.
Precision BioSciences utilizes its proprietary ARCUS® platform to develop in vivo gene editing therapies for sophisticated gene edits, including gene elimination, insertion, and excision. The company's management team will be available for one-on-one meetings during both conferences.
Precision BioSciences (Nasdaq: DTIL), an advanced gene editing company, has announced that it will release its second quarter 2024 financial results and provide a business update on August 1, 2024. The company utilizes its proprietary ARCUS® platform to develop in vivo gene editing therapies. This upcoming report will offer investors and analysts insights into Precision BioSciences' financial performance and operational progress for the quarter ending June 30, 2024.
Precision BioSciences, a leader in gene editing utilizing its proprietary ARCUS® platform, has announced its participation in the JonesTrading Healthcare Seaside Summit from July 14-16, 2024, in San Diego, California. The company, trading under the Nasdaq ticker DTIL, will present on Monday, July 15, 2024, at 9:30 AM PT. The presentation will be accessible via live webcast on Precision BioSciences' website, specifically in the Investors section under Events & Presentations. An archived replay will be available for 30 days post-event.
Precision BioSciences (Nasdaq: DTIL), a gene editing company, announced its inclusion in the Russell Microcap® Index. This follows the 2024 Russell indexes annual reconstitution effective June 28, 2024. The inclusion reflects Precision's progress in advancing its PBGENE-HBV and PBGENE-PMM gene editing programs towards clinical trials in 2024 and 2025. CEO Michael Amoroso highlighted that the inclusion would enhance visibility among global investors. The Russell Microcap® Index captures the 4,000 largest US stocks by market capitalization and serves as a benchmark for $10.5 trillion in assets.
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