Precision BioSciences, Inc. reported a significant increase in revenue for the first quarter of 2026, generating $10.8 million compared to just $29,000 in the same period last year. This growth is attributed to revenue recognized from the TG License Agreement and a legacy ARCUS agriculture gene editing agreement. Despite this increase, the company continues to face substantial operating losses, reporting a net loss of $18.4 million for the quarter, a slight improvement from the $20.6 million loss recorded in the first quarter of 2025.
Operating expenses for the quarter totaled $19.9 million, down from $22.1 million in the prior year, primarily due to reduced general and administrative costs, which fell from $8.6 million to $6.8 million. Research and development expenses remained relatively stable at $13.1 million, compared to $13.6 million in the previous year. The company has paused development on its PBGENE-3243 program to focus on its lead programs, PBGENE-HBV and PBGENE-DMD, which are currently in clinical trials.
In terms of operational developments, Precision BioSciences has made strides in its clinical programs. The PBGENE-HBV program, aimed at treating chronic hepatitis B, is currently in a first-in-human trial, with plans to expand the study into France and Romania. The PBGENE-DMD program, targeting Duchenne muscular dystrophy, has also received FDA Fast Track designation and is actively enrolling patients in its Phase 1/2 clinical trial. The company’s employee headcount has increased, reflecting its ongoing commitment to advancing its research and development efforts.
As of March 31, 2026, Precision BioSciences had cash and cash equivalents of $99.4 million, alongside $26.5 million in restricted cash. The company anticipates that its existing cash reserves, along with its at-the-market facility, will be sufficient to fund operations through 2028. However, it acknowledges the need for additional capital to support ongoing research and development, regulatory submissions, and potential commercialization efforts. The company remains focused on securing funding through various means, including equity or debt financing, collaborations, and licensing arrangements.
Looking ahead, Precision BioSciences aims to continue advancing its clinical programs and expects to share further data from its PBGENE-HBV and PBGENE-DMD trials at upcoming medical conferences. The company remains cautious about the challenges of achieving profitability, given the inherent risks in the biotechnology sector and the need for substantial ongoing investment in research and development.
About PRECISION BIOSCIENCES INC
Precision BioSciences is a clinical-stage biotechnology company specializing in in vivo gene editing therapies using its proprietary ARCUS platform. The platform employs engineered nucleases derived from natural homing endonucleases to develop precise, safe, and durable genetic treatments. The company focuses on therapies for infectious and genetic diseases, leveraging its innovative technology to create targeted, potentially curative solutions across multiple tissue types and conditions.
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