Precision Biosciences Stock Price, News & Analysis

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.

Precision BioSciences (Nasdaq: DTIL) announced the presentation of its PBGENE-PMM program at the UMDF Mitochondrial Medicine 2024 Conference in Cleveland, Ohio. The program targets m.3243 mitochondrial disease using the ARCUS® platform for gene editing. PBGENE-PMM aims to eliminate mutant mitochondrial DNA while preserving normal DNA, improving mitochondrial function. The presentation by Dr. Wendy Shoop demonstrated ARCUS' precision in localizing to mitochondria and avoiding off-target nuclear genome edits. The company is working towards filing an IND or CTA in 2025.

Precision BioSciences has announced the appointment of Dr. Mark Sulkowski and Dr. Jordan Feld to its Hepatitis Scientific Advisory Board. Both are esteemed clinicians in the field of hepatitis. This move aims to bolster the company's expertise as it prepares to submit IND and/or CTA applications for its PBGENE-HBV program in the second half of 2024. The additions aim to enhance the development and potential approval of PBGENE-HBV, which utilizes Precision’s proprietary ARCUS gene-editing platform. The advisory board will now include three key experts: Dr. Sulkowski, Dr. Feld, and Dr. Raymond Schinazi.

Precision BioSciences (Nasdaq: DTIL) has announced promising preclinical safety data for its PBGENE-HBV candidate at the European Association for the Study of the Liver Congress. The data demonstrate that PBGENE-HBV can specifically target and cut HBV DNA without affecting the human genome, showing high specificity and no detectable off-target editing. Additionally, non-human primate studies indicated that PBGENE-HBV is well-tolerated, even with multiple administrations. This supports the candidate's potential as a curative treatment for chronic hepatitis B. Precision BioSciences aims to submit an Investigational New Drug (IND) and/or Clinical Trial Application (CTA) for PBGENE-HBV in 2024.

Precision BioSciences (Nasdaq: DTIL) will participate in two significant investor conferences in June 2024. The company, known for its ARCUS® gene editing platform, will be present at the Jefferies Global Healthcare Conference on June 5, 2024, from 1:30 pm to 1:55 pm ET, and at the Goldman Sachs 45th Annual Global Healthcare Conference on June 12, 2024, from 10:00 am to 10:35 am ET. Both events will feature fireside chats with management. Live webcasts will be available on Precision BioSciences' website, with replays accessible for 30 days post-event.

On May 13, 2024, Precision BioSciences announced the grant of inducement awards to new employees, approved by the Compensation Committee of its Board of Directors. These awards, given under the 2021 Employment Inducement Incentive Award Plan, include stock options for 18,511 shares and 17,124 restricted stock units (RSUs). Each stock option has an exercise price of $11.50 per share, a 10-year term, and vests over four years. The RSUs vest annually over three years. These awards are intended to attract new talent to the company.

Precision BioSciences, Inc. (Nasdaq: DTIL) reported their first quarter 2024 financial results and provided a business update. The company is focused on advancing its wholly owned gene editing programs for Hepatitis B virus and primary mitochondrial myopathy. Precision also exercised the option to return three preclinical programs for internal development or with partners. They monetized CAR T assets through licensing deals and completed a $40 million common stock offering to extend cash runway into H2 2026. Financially, Precision had $137.8 million in cash and cash equivalents as of March 31, 2024, with total revenues of $17.6 million for the quarter. Research and development expenses increased to $13.3 million, while general and administrative expenses decreased to $8.4 million. Net income from continuing operations was $8.6 million for the quarter.

Precision BioSciences, Inc. announced a private placement where the company will issue and sell 25,000 shares of common stock to its senior leadership team, including the CEO, at a price of $12.00 per share, totaling $300,000. The Private Placement is set to close on May 8, 2024, with the net proceeds intended for research and development initiatives.

Precision BioSciences, Inc. (Nasdaq: DTIL) will report its first-quarter financial results on May 13, 2024. The company utilizes its ARCUS® platform for gene editing therapies, including elimination, insertion, and excision.