Precision BioSciences Reports Revenue Decline and Increased Operating Losses in Latest Quarter

Precision BioSciences, Inc. reported significant financial challenges in its latest quarterly filing, revealing a stark decline in revenue and an increase in operating losses. For the three months ended June 30, 2025, the company generated revenue of just $18,000, a dramatic decrease from $49.9 million in the same period last year. This decline is attributed primarily to the conclusion of the Prevail Therapeutics Agreement, which accounted for $48.2 million in revenue in the prior year. The company’s operating expenses also decreased to $21.9 million from $25.8 million, but the operating loss widened to $21.9 million compared to an operating income of $24.1 million in the previous year.

In the first half of 2025, Precision BioSciences reported a net loss of $44.1 million, compared to a net income of $41.3 million in the same period of 2024. The company’s accumulated deficit has now reached $526.5 million. The decrease in revenue was compounded by a reduction in research and development expenses, which fell to $26.4 million from $30.6 million, reflecting a shift in focus as the company transitions its lead programs into clinical trials. General and administrative expenses increased slightly to $17.7 million, driven by higher employee-related costs.

Strategically, Precision BioSciences has made significant changes to its operational focus. In August 2023, the company decided to concentrate solely on its in vivo gene editing therapies, resulting in the sale of its CAR T infrastructure to Imugene Limited. This strategic pivot is aimed at enhancing the development of its proprietary ARCUS genome editing platform, which is currently being utilized in clinical trials for its lead programs, PBGENE-HBV and PBGENE-DMD. The company has initiated the ELIMINATE-B trial for PBGENE-HBV, which is designed to treat chronic Hepatitis B, and has received regulatory designations for PBGENE-DMD, a treatment for Duchenne Muscular Dystrophy.

Operationally, Precision BioSciences is managing its resources carefully, with a cash balance of $84.8 million as of June 30, 2025. The company has implemented cost-cutting measures, including reductions in research and administrative expenses, to extend its cash runway into the second half of 2027. The company anticipates that these measures will support the advancement of its clinical programs while navigating the challenges of funding and operational efficiency. Looking ahead, Precision BioSciences remains focused on achieving meaningful clinical data readouts for its lead programs, although it acknowledges the ongoing need for additional capital to fund its operations and development efforts.