Precision BioSciences Q2 net loss widens on warrant liability charge

• Company targets next PBGENE-HBV and PBGENE-DMD clinical updates by year-end 2026
• Precision expects existing cash to fund data milestones for PBGENE-HBV and PBGENE-DMD through 2028
• Company expects initial safety data from FUNCTION-DMD trial by year-end 2026

• US gene editing firm's Q2 revenue was zero, unchanged from prior period
• Q2 net loss widened, mainly due to non-cash warrant liability loss
• Company ended Q2 with $112.4 mln in cash, expects runway through 2028

• R&D expenses — Decrease in research and development expenses was mainly due to lower platform development and research costs, partially offset by higher PBGENE-DMD and PBGENE-HBV clinical program costs
• G&A expenses — General and administrative expenses fell due to operational discipline and lower employee-related costs
• Warrant liability loss — Net loss increased mainly due to non-cash loss from change in fair value of warrant liability

The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and no "sell" or "strong sell". The average consensus recommendation for the biotechnology & medical research peer group is "buy."