Precision BioSciences Reports $21.8 Million Net Loss and Revenue Decline in Latest Quarter

Precision BioSciences, Inc. reported significant financial challenges in its latest quarterly filing, revealing a net loss of $21.8 million for the three months ended September 30, 2025, compared to a loss of $16.4 million in the same period last year. Revenue plummeted to $13,000, a stark decline from $576,000 in the prior year, primarily due to reduced billable efforts under collaboration agreements, particularly with Novartis. For the nine months ending September 30, 2025, the company recorded total revenue of $60,000, down from $68.1 million in the previous year, largely attributed to the conclusion of the Prevail Therapeutics Agreement, which had contributed $52.7 million in revenue in 2024.

Operating expenses for the third quarter of 2025 were $20.7 million, a slight decrease from $21.9 million in the same quarter of 2024. Research and development expenses increased marginally to $13.4 million, driven by heightened activity in the PBGENE-DMD program, while general and administrative expenses fell to $7.3 million from $8.8 million. The company’s accumulated deficit has now reached $548.3 million, reflecting ongoing financial strain as it continues to invest heavily in its gene editing programs.

In terms of strategic developments, Precision BioSciences has focused on its proprietary ARCUS genome editing platform, which is central to its ongoing clinical trials, including the ELIMINATE-B trial for PBGENE-HBV, aimed at treating chronic Hepatitis B. The company has also made operational adjustments, including workforce reductions, to extend its cash runway. As of September 30, 2025, the company had cash, cash equivalents, and restricted cash totaling $71.2 million, down from $121.3 million a year earlier.

The company has also undergone significant organizational changes, including the divestiture of its CAR T operations to Imugene Limited, which has allowed it to concentrate solely on in vivo gene editing therapies. This strategic pivot is expected to streamline operations and focus resources on its lead programs. However, the company acknowledges the need for substantial additional funding to support its ongoing research and development efforts, with plans to seek capital through various means, including equity and debt financing.

Looking ahead, Precision BioSciences anticipates continued operating losses as it advances its clinical programs. The company is preparing for potential investigational new drug filings for PBGENE-DMD and expects to initiate Phase 1 trials in the first half of 2026. Despite the challenges, management remains committed to its long-term strategy of developing innovative gene therapies, although it cautions that achieving profitability remains uncertain and contingent on successful product development and commercialization.