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Precision BioSciences Q3 net loss narrows on non-cash warrant gains

By Reuters News


Overview

  • U.S. gene editing firm's Q3 net loss narrowed yr/yr, mainly due to non-cash warrant gains

  • Company reported no revenue for Q3, consistent with prior period performance

  • Precision BioSciences ended Q3 with $108 mln cash, expected to fund operations through 2028


Outlook

  • Company expects cash runway to fund operations and clinical milestones through 2028

  • Precision targets initial safety data for PBGENE-DMD by year-end 2026, efficacy data in 2027

  • Company expects data updates from PBGENE-HBV and PBGENE-DMD programs by year-end 2026


Result Drivers

  • FUNCTION-DMD DOSING - Co dosed first patient in Phase 1/2 FUNCTION-DMD study for DMD during Q3

  • ELIMINATE-B ENROLLMENT - Co expanded patient enrollment and dosing cohorts in ELIMINATE-B trial for hepatitis B

  • R&D EXPENSES - Decrease in R&D expenses mainly due to completion of pre-IND research for PBGENE-HBV and PBGENE-DMD, partially offset by higher clinical costs for ELIMINATE-B


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Net Loss

$7.59 mln

Q3 Income from Operations

-$20.43 mln


Analyst Coverage

  • 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."

  • Wall Street's median 12-month price target for Precision Biosciences, Inc is $20.00, about 187.8% above its November 2 closing price of $6.95


Reuters Recommended Reads

  • Nov 2 - FDA to review uniQure's Huntington's gene therapy, decision due on May 2027

  • Nov 2 - Syndax Pharmaceuticals Q3 revenue rises 82% on cancer drug sales

  • Nov 2 - Neurocrine Biosciences Q3 revenue jumps 41% on strong INGREZZA, CRENESSITY, VYKAT XR demand


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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