Precision BioSciences Reports Fourth Quarter and Fiscal Year 2024 Financial Results and Provides Business Update
Precision BioSciences (NASDAQ: DTIL) reported significant clinical progress in Q4 and FY2024, highlighting two successful in vivo gene editing programs. The company's lead program PBGENE-HBV, targeting Hepatitis B, demonstrated safety and substantial antiviral activity in initial trials. The first patient cohort showed HBsAg reduction in two of three patients at the lowest dose level.
Their partner iECURE reported a complete clinical response in the first infant treated for Ornithine Transcarbamylase Deficiency. The company received IND and CTA approvals for ELIMINATE-B trials across multiple countries, including the US.
Financial highlights include $108.5M in cash and equivalents as of December 31, 2024, with runway extended into H2 2026. Q4 revenues were $0.6M compared to $7.0M in Q4 2023. Net loss increased to $17.8M from $13.4M year-over-year.
Precision BioSciences (NASDAQ: DTIL) ha riportato progressi clinici significativi nel quarto trimestre e nell'anno fiscale 2024, evidenziando due programmi di editing genetico in vivo di successo. Il programma principale dell'azienda, PBGENE-HBV, mirato all'Epatite B, ha dimostrato sicurezza e una notevole attività antivirale nei trial iniziali. Il primo gruppo di pazienti ha mostrato una riduzione dell'HBsAg in due dei tre pazienti al livello di dose più basso.
Il loro partner iECURE ha riportato una risposta clinica completa nel primo neonato trattato per la Deficienza di Ornitina Transcarbamilasi. L'azienda ha ricevuto approvazioni IND e CTA per gli studi ELIMINATE-B in diversi paesi, inclusi gli Stati Uniti.
I risultati finanziari includono 108,5 milioni di dollari in contante e equivalenti al 31 dicembre 2024, con una disponibilità estesa fino al secondo semestre del 2026. I ricavi del quarto trimestre sono stati di 0,6 milioni di dollari rispetto ai 7,0 milioni di dollari nel quarto trimestre del 2023. La perdita netta è aumentata a 17,8 milioni di dollari rispetto ai 13,4 milioni dell'anno precedente.
Precision BioSciences (NASDAQ: DTIL) informó sobre avances clínicos significativos en el cuarto trimestre y el año fiscal 2024, destacando dos programas exitosos de edición genética in vivo. El programa principal de la compañía, PBGENE-HBV, dirigido a la Hepatitis B, demostró seguridad y una actividad antiviral sustancial en ensayos iniciales. El primer grupo de pacientes mostró una reducción de HBsAg en dos de tres pacientes en el nivel de dosis más bajo.
Su socio iECURE informó una respuesta clínica completa en el primer bebé tratado por Deficiencia de Ornitina Transcarbamilasa. La compañía recibió aprobaciones IND y CTA para los ensayos ELIMINATE-B en varios países, incluidos los EE. UU.
Los aspectos financieros incluyen 108,5 millones de dólares en efectivo y equivalentes al 31 de diciembre de 2024, con un horizonte extendido hasta el segundo semestre de 2026. Los ingresos del cuarto trimestre fueron de 0,6 millones de dólares en comparación con 7,0 millones de dólares en el cuarto trimestre de 2023. La pérdida neta aumentó a 17,8 millones de dólares desde los 13,4 millones del año anterior.
프레시전 바이오사이언스 (NASDAQ: DTIL)는 2024 회계연도 4분기 및 연간 임상 진전을 보고하며 두 가지 성공적인 생체 내 유전자 편집 프로그램을 강조했습니다. 회사의 주요 프로그램인 PBGENE-HBV는 B형 간염을 타겟으로 하여 초기 시험에서 안전성과 상당한 항바이러스 활성을 입증했습니다. 첫 번째 환자 집단은 가장 낮은 용량에서 세 명 중 두 명의 HBsAg 감소를 보여주었습니다.
그들의 파트너 iECURE는 오르니틴 트랜스카바밀라제 결핍증으로 치료된 첫 번째 유아에서 완전한 임상 반응을 보고했습니다. 이 회사는 미국을 포함한 여러 국가에서 ELIMINATE-B 시험을 위한 IND 및 CTA 승인을 받았습니다.
재무 하이라이트는 2024년 12월 31일 기준으로 1억 8백5십만 달러의 현금 및 현금 등가물을 포함하며, 2026년 하반기까지 자금이 확보되었습니다. 4분기 수익은 60만 달러로, 2023년 4분기 700만 달러에 비해 감소했습니다. 순손실은 전년 대비 1340만 달러에서 1780만 달러로 증가했습니다.
Precision BioSciences (NASDAQ: DTIL) a rapporté des avancées cliniques significatives au quatrième trimestre et pour l'exercice 2024, mettant en avant deux programmes de modification génétique in vivo réussis. Le programme phare de la société, PBGENE-HBV, ciblant l'hépatite B, a démontré une sécurité et une activité antivirale substantielle lors des essais initiaux. Le premier groupe de patients a montré une réduction de l'HBsAg chez deux des trois patients au niveau de dose le plus bas.
Leur partenaire iECURE a signalé une réponse clinique complète chez le premier nourrisson traité pour une déficience en ornithine transcarbamylase. La société a reçu des approbations IND et CTA pour les essais ELIMINATE-B dans plusieurs pays, y compris les États-Unis.
Les points financiers incluent 108,5 millions de dollars en liquidités et équivalents au 31 décembre 2024, avec une durée de financement prolongée jusqu'au second semestre 2026. Les revenus du quatrième trimestre étaient de 0,6 million de dollars contre 7,0 millions de dollars au quatrième trimestre 2023. La perte nette a augmenté à 17,8 millions de dollars contre 13,4 millions de dollars d'une année sur l'autre.
Precision BioSciences (NASDAQ: DTIL) berichtete über bedeutende klinische Fortschritte im vierten Quartal und im Geschäftsjahr 2024 und hob zwei erfolgreiche in vivo-Gentechnologie-Programme hervor. Das Hauptprogramm des Unternehmens, PBGENE-HBV, das auf Hepatitis B abzielt, zeigte in den ersten Tests Sicherheit und erhebliche antivirale Aktivität. Die erste Patientengruppe zeigte bei der niedrigsten Dosis eine HBsAg-Reduktion bei zwei von drei Patienten.
Ihr Partner iECURE berichtete über eine vollständige klinische Antwort beim ersten behandelten Säugling mit Ornithintranscarbamylasemangel. Das Unternehmen erhielt IND- und CTA-Zulassungen für die ELIMINATE-B-Studien in mehreren Ländern, einschließlich der USA.
Finanzielle Höhepunkte umfassen 108,5 Millionen Dollar in bar und Äquivalenten zum 31. Dezember 2024, mit einer finanziellen Laufzeit bis in die zweite Hälfte des Jahres 2026. Die Einnahmen im vierten Quartal betrugen 0,6 Millionen Dollar im Vergleich zu 7,0 Millionen Dollar im vierten Quartal 2023. Der Nettoverlust stieg im Jahresvergleich von 13,4 Millionen Dollar auf 17,8 Millionen Dollar.
- First-ever in vivo gene editing therapy cleared for Hepatitis B treatment globally
- Successful initial clinical results with PBGENE-HBV showing substantial antiviral activity
- Partner iECURE achieved complete clinical response in first infant treated for OTC deficiency
- Strong cash position of $108.5M with runway into H2 2026
- Revenue declined significantly to $0.6M in Q4 2024 from $7.0M in Q4 2023
- Net loss increased to $17.8M from $13.4M year-over-year
- R&D expenses increased by $2.5M compared to previous year
- G&A expenses rose by $1.1M year-over-year
Insights
Precision BioSciences reports significant clinical progress with its proprietary ARCUS gene editing platform, achieving first-in-human validation across two programs - a major technical milestone. Their lead asset PBGENE-HBV demonstrated compelling early results in the Phase 1 ELIMINATE-B trial for chronic Hepatitis B, showing substantial HBsAg reduction in 2 of 3 patients after just one administration at the lowest dose level with no serious adverse events. This validates their viral elimination approach targeting both cccDNA and integrated HBV DNA - a mechanistically differentiated strategy versus competitors.
Simultaneously, their partnered OTC deficiency program with iECURE reported a complete clinical response in the first treated infant, providing further validation of the ARCUS platform's versatility across both viral elimination and gene insertion applications. FDA clearance for PBGENE-HBV marks the first in vivo gene editing approach for Hepatitis B to enter US clinical trials.
Financially, while quarterly revenue declined to
Precision BioSciences' Q4 results showcase a pivotal transition from preclinical to clinical-stage for their ARCUS gene editing platform. The standout achievement is demonstrating clinical activity in two distinct gene editing mechanisms - viral elimination (PBGENE-HBV) and gene insertion (OTC deficiency program) - addressing a fundamental investor question about whether their nuclease technology can deliver real-world therapeutic outcomes.
The Hepatitis B program deserves particular attention as it represents both technical innovation and significant market opportunity. The initial efficacy signal showing HBsAg reduction after a single low-dose administration is scientifically meaningful, especially as it targets the root cause of infection through direct editing of viral genetic material. With 300 million patients globally and current therapies offering poor cure rates, the potential therapeutic and commercial value is substantial.
The financial picture reflects typical biotech development economics - increased R&D investment (
The clinical validation across multiple modalities significantly de-risks the platform technology itself, potentially creating value across the entire pipeline rather than just individual programs.
- Announced first in vivo clinical validation for ARCUS gene editing across two distinct programs including wholly owned PBGENE-HBV and partnered program ECUR-506 -
- Commenced Phase 1 ELIMINATE-B clinical trial for PBGENE-HBV, the first gene editing technology studied for Hepatitis B, in fourth quarter of 2024 -
- Demonstrated PGENE-HBV was safe and well tolerated with substantial antiviral activity measured by reduction of Hepatitis B surface antigen after only one administration at lowest dose level; Subsequent doses of PBGENE-HBV to follow with data expected throughout 2025 -
- Announced complete clinical response in first infant dosed by partner iECURE in ongoing Phase 1/2 clinical trial in Ornithine Transcarbamylase (OTC) Deficiency -
- Anticipated cash runway into the second half of 2026 is expected to enable achievement of key Phase 1 clinical inflection points across both wholly owned in vivo gene editing programs -
“2024 was a transformational year for Precision BioSciences as we solidified ourselves as a leading in vivo gene editing company, and we now have clinical data from two differentiated ARCUS based programs. Our focus on operational excellence was exemplified by PBGENE-HBV, our lead in vivo gene editing program for chronic Hepatitis B, where we in parallel filed and received approval for three Clinical Trial Applications (CTA) in three markets with world class clinical capabilities,” said Michael Amoroso, President and Chief Executive Officer of Precision BioSciences. “Building on that momentum, and consistent with our pursuit of globalizing the ELIMINATE-B trial, Precision has recently received Investigational New Drug (IND) clearance by the
“In 2025, our steadfast focus remains on continued clinical execution as we work to deliver on the promise of our ARCUS gene editing technology through robust clinical data,” continued Mr. Amoroso. “The recent reported clinical experience for PBGENE-HBV focused on viral editing and elimination of replicating cccDNA and integrated HBV DNA in Hepatitis B, an extremely large patient population, adds to the compelling clinical validation of the ARCUS platform observed in severe OTC deficiency, a rare and extremely dire disease. In January, our partner iECURE announced news from the OTC-HOPE study, where first-in-human data demonstrated a complete clinical response in severe neonatal OTC deficiency using an ARCUS nuclease for in vivo gene insertion. We look forward to building on this clinical momentum throughout 2025.”
Wholly Owned Portfolio
PBGENE-HBV (Viral Elimination Program): PBGENE-HBV is Precision’s wholly owned in vivo gene editing program under investigation in a global first-in-human clinical trial, which is designed to potentially cure chronic Hepatitis B infection. Currently, it is estimated that approximately 300 million people worldwide are afflicted with chronic Hepatitis B. Unlike all other downstream targeting modalities, which offer low likelihood of achieving a cure, PBGENE-HBV is the first and only potentially curative gene editing program to enter the clinic that is specifically designed to eliminate cccDNA and inactivate integrated HBV DNA. The ELIMINATE-B trial is designed to investigate PBGENE-HBV at multiple ascending dose levels with three dose administrations per dose level in patients afflicted with chronic Hepatitis B who are HBeAg-negative.
Precision received IND and CTA approvals for its Phase 1 ELIMINATE-B trial in
Mr. Amoroso added, “We have already completed dosing of the first patient cohort establishing both safety and early efficacy for PBGENE-HBV at the lowest dose level in the Phase 1 clinical trial and have commenced subsequent administrations. These operational milestones are a tremendous step forward for Precision BioSciences, and we look forward to accelerating patient access to the study by initiating the trial in the
The Company dosed the first patient in December 2024 and has completed dosing the low-dose cohort (N= 3 patients) with the first dose administration of PBGENE-HBV. The participants treated in cohort 1 possessed different baseline characteristics: age of infection, duration of infection and level of Hepatitis B surface antigen (HBsAg).
The study is primarily designed to test the safety of three dose administrations of PBGENE-HBV. In the first cohort, all three patients dosed with the first dose administration of PBGENE-HBV have completed the initial safety evaluation period. PBGENE-HBV was well-tolerated and none of the patients experienced a Grade ≥2 treatment-related adverse event or serious adverse event.
In addition to safety, the ELIMINATE-B protocol is designed to assess the efficacy for three dose administrations at each dose level, with the goal to maximize cumulative viral editing to achieve undetectable levels of HBsAg ultimately enabling patients to stop taking lifelong nucleos(t)ide analog therapy. PBGENE-HBV demonstrated a substantial reduction in HBsAg in two of the three participants following the first administration at the lowest dose. Initial clinical data in the first cohort of patients was consistent with the HBsAg reductions observed in preclinical non-human primate models.
“Given PBGENE-HBV's novel modality, these data suggest that PBGENE-HBV appears to be working by its intended mechanism of eliminating the source of viral replication in cccDNA while inactivating integrated disease,” said Cassie Gorsuch, PhD, Chief Scientific Officer of Precision BioSciences.
With a well-tolerated safety profile and early antiviral activity established after the first administration at dose level 1, Precision expects to complete subsequent administrations in all cohort 1 patients while in parallel expanding to the next higher dose cohorts. The Company plans to provide ongoing updates on the full low-dose cohort, including multiple dose administrations, and data at higher dose levels throughout 2025.
Supporting the ELIMINATE-B clinical study design, Precision presented new preclinical safety and efficacy data at the Global Hepatitis Summit (GHS) on March 21, 2025, showcasing the rationale for administering up to three repeat doses in clinic to safely increase cumulative viral editing and optimize the therapeutic index of PBGENE-HBV for patients with chronic Hepatitis B. The data shared at GHS was supported by definitive preclinical safety and toxicology studies conducted by Precision.
PBGENE-3243 (Mutant Mitochondrial DNA Elimination Program): PBGENE-3243 is a first-of-its-kind potential treatment for m.3243-associated mitochondrial disease that is designed to specifically target and eliminate mutant m.3243G mitochondrial DNA, thereby eliminating the root cause of the disease. Currently, there are no cures for m.3243-associated mitochondrial disease, which affects approximately 20,000 people in the
The high specificity of ARCUS nucleases enables editing and elimination of mutant mitochondrial DNA while allowing wild-type (normal) mitochondrial DNA to repopulate, thus improving cellular function. Unlike CRISPR/Cas, base editors, and prime editors that require a guide RNA, ARCUS single-component nucleases are able to penetrate the mitochondrial membranes and target mutant mitochondrial DNA. In 2025, Precision plans to present new data for PBGENE-3243 while advancing the program toward a CTA and/or IND.
Wholly Owned Portfolio – Under Assessment
In July 2024, Precision regained the rights for three programs, including its PBGENE-DMD, PBGENE-LIVER, and PBGENE-CNS programs; the following of which are being assessed for either internal development and/or development through new partners.
-
PBGENE-DMD (Muscle Targeted Excision Program): New preclinical, in vivo efficacy data using the clinical construct, PBGENE-DMD, was presented at the 2025 Muscular Dystrophy Association Clinical and Scientific Conference on March 19, 2025. The oral presentation highlighted significant functional dystrophin protein production across heart, diaphragm and skeletal muscles at levels expected to provide therapeutic benefit. In a humanized DMD-diseased mouse model, PBGENE-DMD demonstrated long-term functional improvement over multiple time points, including achieving
93% of the maximal force output observed in healthy control mice. Importantly, PBGENE-DMD demonstrated the ability to edit Pax7+ cells, a marker for satellite muscle stem cells which are the precursor cells to new muscle cell formation and a potential predictor of durable functional benefit. These in vivo efficacy results further support the therapeutic potential of an ARCUS gene editing approach for the treatment of DMD and ongoing development in clinical trials. - PBGENE-CNS (CNS Targeted Excision Program): Precision expects to publicly present preclinical data on PBGENE-CNS for the first time at a scientific conference in 2025.
ARCUS Platform
At the ESGCT 31st Annual Congress in October 2024, Precision presented preclinical data highlighting ARCUS’s capability for high-efficiency gene editing to achieve a range of gene editing outcomes, including specific base correction, insertions, and the replacement of large segments of DNA within the genome via homology-directed repair (HDR). The presentation also discussed how the ARCUS approach may provide broader therapeutic applicability and address significantly more diseases through gene insertion and repair than other gene editing modalities which primarily target gene deletion or knock out.
Partnered Programs
iECURE-OTC (Gene Insertion Program): Led by iECURE, ECUR-506 is an ARCUS-mediated in vivo gene editing program currently in a first-in-human Phase 1/2 trial (OTC-HOPE) evaluating ECUR-506 as a potential treatment for neonatal onset ornithine transcarbamylase (OTC) deficiency. In January 2025, iECURE reported clinical efficacy and safety data in the first patient dosed showing a complete clinical response from three months post exposure to the end of study at six months post exposure, as demonstrated by the removal of standard of care ammonia scavenger medicines, an absence of hyperammonemic crises, and normalization of protein intake to age-appropriate levels. ECUR-506 was generally well tolerated with no significant clinical safety concerns apart from asymptomatic transaminitis experienced at four weeks. The asymptomatic transaminitis was managed with a short course of immunosuppressive therapy and resolved within four weeks. Twelve weeks after a single dose of ECUR-506, ammonia scavenger medication was discontinued and mean daily protein intake was increased to age-appropriate levels.
The OTC-HOPE study is ongoing in the
PBGENE-NVS (Gene Insertion Program): Precision continues to advance its gene editing program with Novartis to develop a custom ARCUS nuclease for patients with hemoglobinopathies, such as sickle cell disease and beta thalassemia. The collaborative intent is to insert, in vivo, a therapeutic transgene as a potential one-time transformative treatment administered directly to the patient to overcome disparities in patient access to treatment with other therapeutic technologies, including those that are targeting an ex vivo gene editing approach.
Corporate Updates
Strengthened Senior Leadership Team: In January 2025, Precision announced the appointments of Cindy Atwell as Chief Development and Business Officer, and Dr. Cassie Gorsuch, PhD as Chief Scientific Officer, significantly strengthening the Company’s research and development capabilities to support clinical execution for its lead PBGENE-HBV program and advancement of other programs towards the clinic.
Business Updates – Monetization of CAR T Investments:
Equity Investment as Part of 2024 Deal with TG Therapeutics:
In January 2025, Precision received a deferred cash payment of
In January 2025, TG Therapeutics announced its intention to enroll participants into the Phase 1 azer-cel trial in autoimmune disease, beginning with primary progressive Multiple Sclerosis in 2025. Upon the achievement of certain near-term clinical milestones, Precision will receive an additional
Quarter Ended December 31, 2024 Financial Results:
Cash, Cash Equivalents, and Restricted Cash: As of December 31, 2024, Precision had approximately
Revenues: Total revenues for the quarter ended December 31, 2024, were
Research and Development Expenses: Research and development expenses were
General and Administrative Expenses: General and administrative expenses were
Net Loss from Continuing Operations: Net loss from continuing operations was
Net Loss: Net loss was
Fiscal Year 2024 Financial Results:
Revenues: Total revenues for the year ended December 31, 2024 were
Research and Development Expenses: Research and development expenses were
General and Administrative Expenses: General and administrative expenses were
Net Income from Continuing Operations: Net income from continuing operations was
Net Income: Net income was
Shares: Basic and diluted weighted-average common shares outstanding the year ended December 31, 2024 were 6,832,982 and 6,883,911, respectively, compared to 3,841,405 (basic and diluted) for the year ended December 31, 2023. Precision BioSciences had 8,202,715 shares outstanding as of December 31, 2024. As of March 20, 2025, Precision BioSciences had 10,481,931 shares outstanding, including 921,243 shares sold on March 19, 2025, at the market.
About Precision BioSciences, Inc.
Precision BioSciences, Inc. is a clinical stage gene editing company dedicated to improving life (DTIL) with its novel and proprietary ARCUS® genome editing platform that differs from other technologies in the way it cuts, its smaller size, and its simpler structure. Key capabilities and differentiating characteristics may enable ARCUS nucleases to drive more intended, defined therapeutic outcomes. Using ARCUS, the Company’s pipeline is comprised of in vivo gene editing candidates designed to deliver lasting cures for the broadest range of genetic and infectious diseases where no adequate treatments exist. For more information about Precision BioSciences, please visit www.precisionbiosciences.com.
The ARCUS® platform is being used to develop in vivo gene editing therapies for sophisticated gene edits, including gene insertion (inserting DNA into gene to cause expression/add function), elimination (removing a genome e.g. viral DNA or mutant mitochondrial DNA), and excision (removing a large portion of a defective gene by delivering two ARCUS nucleases in a single AAV).
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the clinical development and expected safety, efficacy and benefit of our and our partners’ and licensees’ product candidates and gene editing approaches including editing efficiency, and the suitability of ARCUS nucleases for gene insertion, gene elimination and gene excision and differentiation from other gene editing approaches; the expected timing of regulatory processes and clinical operations (including filings, studies, enrollment and clinical data for PBGENE-HBV, PBGENE-3243 and iECURE OTC); the design of PBGENE-HBV to directly eliminate cccDNA and inactivate integrated HBV DNA with high specificity, potentially leading to functional cures; clinical data suggesting that PBGENE-HBV appears to be working by its intended mechanism of eliminating the source of viral replication in cccDNA while inactivating integrated disease; plans to provide ongoing updates on the full low-dose cohort for the PBGENE-HBV study, including multiple dose administrations, and data at higher dose levels throughout 2025; the ability of ARCUS single-component nucleases to penetrate the mitochondrial membranes; the high specificity of ARCUS nucleases enables editing and elimination of mutant mitochondrial DNA while allowing wild-type (normal) mitochondrial DNA to repopulate, thus improving cellular function; plans to present new data for PBGENE-3243 in 2025 while advancing the program toward a CTA and/or IND; the ability of PBGENE-DMD to provide significant functional dystrophin protein production across heart, diaphragm and skeletal muscles at levels expected to provide therapeutic benefit in a humanized DMD-diseased mouse model; the ability of PBGENE to edit satellite muscle stem cells, a potential predictor of durable functional benefit; the translation of results in preclinical studies of ARCUS nucleases to clinical studies in humans; expectations about our and our partners’ operational initiatives, strategies, and further development of our programs; expectations and updates around our partnerships and collaborations and our ability to enter into new collaborations, license agreements or other arrangements; our expected cash runway and available credit; the sufficiency of our cash runway extending into the second half of 2026 and realizing Phase 1 clinical data for multiple in vivo gene editing programs; expectations about achievement of key milestones and receipt of any milestone, royalty, or other payments; expectations regarding our liquidity and capital resources; and anticipated timing of clinical data . In some cases, you can identify forward-looking statements by terms such as “aim,” “anticipate,” “appear,” “approach,” “believe,” “contemplate,” “could,” “designed,” “estimate,” “expect,” “goal,” “intend,” “look,” “may,” “mission,” “plan,” “possible,” “potential,” “predict,” “project,” “pursue,” “should,” “strive,” “suggest,” “target,” “will,” “would,” or the negative thereof and similar words and expressions.
Forward-looking statements are based on management’s current expectations, beliefs and assumptions and on information currently available to us. These statements are neither promises nor guarantees, and involve a number of known and unknown risks, uncertainties and assumptions, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various important factors, including, but not limited to, our ability to become profitable; our ability to procure sufficient funding to advance our programs; risks associated with our capital requirements, anticipated cash runway, requirements under our current debt instruments and effects of restrictions thereunder, including our ability to raise additional capital due to market conditions and/or our market capitalization; our operating expenses and our ability to predict what those expenses will be; our limited operating history; the progression and success of our programs and product candidates in which we expend our resources; our limited ability or inability to assess the safety and efficacy of our product candidates; the risk that other genome-editing technologies may provide significant advantages over our ARCUS technology; our dependence on our ARCUS technology; the initiation, cost, timing, progress, achievement of milestones and results of research and development activities and preclinical and clinical studies, including clinical trial and investigational new drug applications; public perception about genome editing technology and its applications; competition in the genome editing, biopharmaceutical, and biotechnology fields; our or our collaborators’ or other licensees’ ability to identify, develop and commercialize product candidates; pending and potential product liability lawsuits and penalties against us or our collaborators or other licensees related to our technology and our product candidates; the
All forward-looking statements speak only as of the date of this press release and, except as required by applicable law, we have no obligation to update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.
| Precision Biosciences, Inc. | ||||||||
| Statements of Operations | ||||||||
| (In thousands, except share and per share amounts) | ||||||||
| For the Three Months Ended December 31, | ||||||||
|
2024 |
|
|
2023 |
|
|||
| Revenue | $ |
638 |
|
$ |
7,038 |
|
||
| Operating expenses | ||||||||
| Research and development |
|
15,907 |
|
|
13,389 |
|
||
| General and administrative |
|
9,577 |
|
|
8,539 |
|
||
| Total operating expenses |
|
25,484 |
|
|
21,928 |
|
||
| Operating loss |
|
(24,846 |
) |
|
(14,890 |
) |
||
| Other income (expense): | ||||||||
| Loss from equity method investment |
|
(972 |
) |
|
(871 |
) |
||
| (Loss) gain on changes in fair value |
|
(659 |
) |
|
1,603 |
|
||
| Gain on change in fair value of warrant liability |
|
7,812 |
|
|
— |
|
||
| Interest expense |
|
(392 |
) |
|
(579 |
) |
||
| Interest income |
|
1,494 |
|
|
1,827 |
|
||
| Loss on disposal of assets |
|
(182 |
) |
|
(524 |
) |
||
| Total other income |
|
7,101 |
|
|
1,456 |
|
||
| Loss from continuing operations | $ |
(17,745 |
) |
$ |
(13,434 |
) |
||
| Loss from discontinued operations |
|
— |
|
|
(2,855 |
) |
||
| Net loss | $ |
(17,745 |
) |
$ |
(16,289 |
) |
||
| Net loss per share-basic and diluted | $ |
(2.22 |
) |
$ |
(4.06 |
) |
||
| Weighted average shares of common stock outstanding-basic and diluted |
|
7,999,288 |
|
|
4,010,067 |
|
||
| Precision Biosciences, Inc. | ||||||||
| Statements of Operations | ||||||||
| (In thousands, except share and per share amounts) | ||||||||
| For the Years Ended December 31, | ||||||||
|
2024 |
|
|
2023 |
|
|||
| Revenue | $ |
68,696 |
|
$ |
48,727 |
|
||
| Operating expenses | ||||||||
| Research and development |
|
59,559 |
|
|
53,375 |
|
||
| General and administrative |
|
35,299 |
|
|
39,088 |
|
||
| Total operating expenses |
|
94,858 |
|
|
92,463 |
|
||
| Operating loss |
|
(26,162 |
) |
|
(43,736 |
) |
||
| Other income (expense): | ||||||||
| Loss from equity method investment |
|
(1,084 |
) |
|
(4,931 |
) |
||
| Gain on changes in fair value |
|
258 |
|
|
1,145 |
|
||
| Gain on change in fair value of warrant liability |
|
29,610 |
|
|
— |
|
||
| Interest expense |
|
(1,782 |
) |
|
(2,230 |
) |
||
| Interest income |
|
6,763 |
|
|
7,686 |
|
||
| Loss on disposal of assets |
|
(436 |
) |
|
(461 |
) |
||
| Total other income |
|
33,329 |
|
|
1,209 |
|
||
| Income (loss) from continuing operations | $ |
7,167 |
|
$ |
(42,527 |
) |
||
| Loss from discontinued operations (including gain on disposal of |
|
— |
|
|
(18,792 |
) |
||
| Net income (loss) | $ |
7,167 |
|
$ |
(61,319 |
) |
||
| Net income (loss) per share | ||||||||
| Basic | $ |
1.05 |
|
$ |
(15.96 |
) |
||
| Diluted | $ |
1.04 |
|
$ |
(15.96 |
) |
||
| Weighted-average shares of common stock outstanding | ||||||||
| Basic |
|
6,832,982 |
|
|
3,841,405 |
|
||
| Diluted |
|
6,883,911 |
|
|
3,841,405 |
|
||
| Precision Biosciences, Inc. | ||||||
| Balance Sheets Data | ||||||
| (In thousands, except share amounts) | ||||||
| December 31, 2024 | December 31, 2023 | |||||
| Cash, cash equivalents, and restricted cash | $ |
108,468 |
$ |
116,678 |
||
| Working capital |
|
80,009 |
|
86,372 |
||
| Total assets |
|
136,388 |
|
159,781 |
||
| Total liabilities |
|
79,995 |
|
140,920 |
||
| Total stockholders' equity | $ |
56,393 |
$ |
18,861 |
||
| Common stock outstanding |
|
8,202,715 |
|
4,164,038 |
||
View source version on businesswire.com: https://www.businesswire.com/news/home/20250326544666/en/
Investor and Media Contact:
Naresh Tanna
Vice President, Investor Relations
Naresh.Tanna@precisionbiosciences.com
Source: Precision BioSciences, Inc.
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