Precision BioSciences Q3 net loss narrows on non-cash warrant gains
DTIL•Precision BioSciences’ third-quarter net loss narrowed year over year, mainly due to non-cash warrant gains, while the company reported no revenue. It ended the quarter with $108 million in cash, which it expects to fund operations through 2028.
1. Quarterly results
Precision BioSciences reported a third-quarter net loss of $7.59 million and income from operations of negative $20.43 million. It had no revenue, consistent with the prior period, and said the narrower net loss was mainly due to non-cash warrant gains.
2. Cash and clinical programs
The company ended the quarter with $108 million in cash and expects it to fund operations and clinical milestones through 2028. It dosed the first patient in its Phase 1/2 FUNCTION-DMD study during the quarter and expanded enrollment and dosing cohorts in its ELIMINATE-B hepatitis B trial. Precision targets initial safety data for PBGENE-DMD by year-end 2026 and efficacy data in 2027, and expects updates from PBGENE-HBV and PBGENE-DMD by year-end 2026.
