PRECISION BIOSCIENCES INC SEC Filings

Precision BioSciences, Inc. (DTIL) reported that the first patient has been dosed in its Phase 1/2 FUNCTION-DMD clinical trial of PBGENE-DMD, an in vivo gene-editing therapy for Duchenne muscular dystrophy (DMD). The first dosing occurred at Arkansas Children’s Hospital, a specialized Duchenne care center.

PBGENE-DMD uses the company’s ARCUS® platform to excise exons 45-55 of the dystrophin gene via two ARCUS nucleases delivered in a single AAV, aiming to restore a near full-length functional dystrophin protein. The trial is enrolling ambulatory boys aged 2–7 with mutations between exons 45 and 55, a group representing up to 60% of boys with DMD, with initial safety data expected by year-end 2026.

Precision BioSciences is a clinical-stage gene editing company developing in vivo therapies using its proprietary ARCUS platform, led by HBV program PBGENE‑HBV and DMD program PBGENE‑DMD. In the ELIMINATE‑B trial, liver biopsies showed about a 1‑log reduction in cccDNA‑derived transcripts after PBGENE‑HBV dosing, with less than 1% of cccDNA remaining in one patient and cumulative effects with repeat dosing. pgRNA became durably undetectable in all patients who had detectable pgRNA at baseline, with sustained S‑antigen declines and no dose‑limiting toxicities reported across 16 patients.

For the six months ended June 30, 2026, the company reported $10.8 million of revenue, primarily from a $7.5 million milestone under the TG Therapeutics license and a $4.0 million agriculture milestone, versus less than $0.1 million a year earlier. Research and development expenses were $25.5 million and general and administrative expenses $13.6 million, yielding an operating loss of $28.2 million. A large non‑cash loss from remeasurement of warrant liabilities and other fair value items drove total net loss to $51.1 million.

Cash, cash equivalents and restricted cash totaled $112.4 million at June 30, 2026, including $22.5 million held as security for a term loan maturing in 2029. Management states that existing cash, operating discipline and access to an at‑the‑market equity facility are expected to fund operations through 2028.

Precision BioSciences, Inc. reported second quarter 2026 results and highlighted clinical progress in its gene editing pipeline. For the quarter ended June 30, 2026, revenue was $0 and net loss was $32.7 million, or $(1.26) per share, driven largely by a non-cash loss from the change in fair value of warrant liabilities. Research and development expenses were $12.4 million and general and administrative expenses were $6.8 million.

Cash, cash equivalents and restricted cash totaled $112.4 million as of June 30, 2026, which the company expects will fund operations and data milestones for PBGENE-HBV and PBGENE-DMD through 2028. In its ELIMINATE-B trial for chronic hepatitis B, PBGENE-HBV showed biopsy evidence of a 1-log reduction in cccDNA-derived transcripts with less than 1% remaining in one patient and sustained pgRNA loss in 100% of evaluable patients. PBGENE-DMD for Duchenne muscular dystrophy is in a Phase 1/2 trial now recruiting boys ages 2 to 7, with initial safety data targeted by year-end 2026. Partnered programs in OTC deficiency and oncology/multiple sclerosis advanced, and leadership changes were made including appointing Naresh Tanna as Chief Financial Officer. The company also joined the Russell 2000 Index in June 2026.

Precision BioSciences Inc reports that Chief Scientific Officer Cassandra Louise Gorsuch directly owns 16,028 shares of Common Stock, fully vested employee stock options over 235 shares at $36.0000 and 585 shares at $359.4000, and Restricted Stock Units covering 40,000 and 179,340 shares that vest in three substantially equal annual installments beginning in 2026 and 2027, subject to continued service.

Mei Zhang Lu, Chief Accounting Officer of Precision Biosciences Inc, reports direct ownership of 5,115 shares of common stock. She also holds fully vested employee stock options covering 945, 214, 403 and 778 shares at exercise prices of 378.0000, 174.9000, 340.2000 and 122.4000, expiring between 2029 and 2032, plus restricted stock units covering 11,288 and 30,129 shares that vest in three substantially equal annual installments beginning on February 24, 2026 and February 22, 2027, respectively.

Naresh Haresh Tanna, Chief Financial Officer of Precision Biosciences Inc, reports direct ownership of 25,575 shares of common stock. Reported equity awards include RSU grants of 16,683, 33,317, 45,000 and 179,340 units, each vesting in three substantially equal annual installments beginning on January 20, 2025, January 27, 2025, February 17, 2026 and February 19, 2027, respectively, subject to continued service.

Empery Asset Management, LP and Ryan M. Lane report beneficial ownership of 1,314,393 shares of Precision BioSciences, Inc. common stock, including 538,300 shares issuable upon exercise of warrants. This represents 4.99% of the common stock, based on 25,802,247 shares outstanding as of April 30, 2026.

The warrants contain a 4.99% beneficial ownership blocker, so the holders cannot exercise them to the extent their ownership would exceed 4.99% of the outstanding shares. Voting and dispositive power over these shares is shared, with no sole power reported. The filing confirms ownership of 5 percent or less of the class.

Precision BioSciences, Inc. restructured its senior leadership team, effective August 1, 2026. Alex Kelly, age 60, was promoted from Chief Financial Officer to Chief Operating Officer with an annual base salary of $510,000 and a target annual bonus equal to 45% of base salary.

The Board appointed Naresh Tanna, age 45, as Chief Financial Officer and principal financial officer with a base salary of $400,000 and a 40% target bonus, pro-rated for 2026. Vice President of Finance Mei Burris, age 40, will assume responsibilities as principal accounting officer and Chief Accounting Officer. A related press release states these leadership updates support advancement of the PBGENE-HBV and PBGENE-DMD in vivo gene editing programs toward upcoming clinical milestones.

Lynx1 Capital Management LP and Weston Nichols report beneficial ownership of shares of Precision BioSciences, Inc. common stock. Through Lynx1 Master Fund LP, they beneficially own 1,390,611 shares of common stock, with shared voting and dispositive power over all of these shares and no sole voting or dispositive power.

This position represents 5.4% of Precision BioSciences’ common stock, based on 25,802,247 shares outstanding as of April 30, 2026, as reported by the company. The Lynx1 Fund has the right to receive dividends and sale proceeds from the shares. The reporting persons state that their filing should not be construed as an admission of beneficial ownership for all purposes.