Precision BioSciences Secures $7.5M Milestone Payment for MS Therapy Progress
Precision BioSciences will receive $7.5 million from TG Therapeutics following a Phase 1 multiple sclerosis trial milestone for azer-cel, including $5.25 million cash and a $2.25 million stock purchase at $11.17 per share. The proceeds bolster DTIL’s cash runway through 2028 alongside existing resources and its ATM facility.
1. Milestone Details
Precision BioSciences achieved a clinical milestone under its license with TG Therapeutics, triggering a $7.5 million payment tied to Phase 1 trial progress of azer-cel in progressive multiple sclerosis. The payment comprises $5.25 million in cash and $2.25 million for 201,504 shares of DTIL common stock at $11.17 each.
2. Financial Impact
Including the milestone proceeds, Precision BioSciences expects its existing cash and cash equivalents, disciplined operations, and access to its at-the-market equity facility to fund development and operations through at least 2028 without additional financing.
3. Partnership Terms
Under the January 2024 agreement, TG Therapeutics holds exclusive worldwide rights to develop and commercialize azer-cel for autoimmune indications. Precision remains eligible for up to $288 million in future milestone payments plus high-single-digit to low-double-digit royalties on net sales.
4. Future Outlook
Precision BioSciences enters a catalyst-rich 2026 with multiple potential data readouts and development milestones across its wholly owned in vivo gene editing pipeline, including programs in HBV, DMD and other high unmet need diseases leveraging its ARCUS platform.