Business
Precision BioSciences Reports Fourth Quarter and Fiscal Year 2022 Financial Results and Provides Business Update
- Advanced ARCUS Gene Editing Development for Clinical and Research Programs; In Vivo Gene Editing R&D Day Planned for Mid-2023 - Progressed Azer-cel and
About this update from Precision Biosciences, Inc.
[{"type":"text","content":"\n- Advanced ARCUS Gene Editing Development for Clinical and Research Programs; In Vivo Gene Editing R&D Day Planned for Mid-2023\n\n- Progressed Azer-cel and PBCAR19B Allogenic CAR T Clinical Studies; Program Updates Planned for Azer-cel and PBCAR19B\n\n- Advanced Wholly Owned, Preclinical PBGENE-HBV and Partnered DMD, Sickle Cell Disease, and OTC Programs; New Data Expected to be Presented/Published in 2023\n\n- Cash Balance Provides Expected 2-Year Runway through Q1 2025\n\n DURHAM, N.C.--(BUSINESS WIRE)--\nPrecision BioSciences, Inc. (Nasdaq: DTIL), a clinical stage gene editing company developing ARCUS®-based ex vivo allogeneic CAR T and in vivo gene editing therapies, today announced financial results for the fourth quarter and fiscal year ended December 31, 2022 and provided a business update.\n\n“2022 proved to be a significant year for Precision as we made considerable progress on clinical, manufacturing, research, and collaboration fronts toward building an end-to-end gene editing company. Over the last year, Precision has invested in manufacturing optimization with our allogeneic CAR T therapies, which resulted in improved product candidate attributes in azer-cel, a potential first-in-class allogeneic CAR T treatment for patients who have relapsed following autologous CAR T treatment. In addition, following the platform-wide manufacturing optimization in 2022, we are continuing to dose subjects with PBCAR19B in its Phase 1 clinical study,” said Michael Amoroso, Chief Executive Officer of Precision BioSciences. “I’m very proud of our team’s work to align with the U.S. Food and Drug Administration (FDA) on the azer-cel chemistry, manufacturing and controls (CMC) package in late 2022 and look forward to providing updates on our allogeneic CAR T therapies as we progress towards key decision points on next steps for azer-cel and PBCAR19B.”\n\nMr. Amoroso continued, “We have continued to leverage the ARCUS gene editing platform in progressing multiple in vivo gene editing programs, independently and with select partners such as Novartis, Lilly, and iECURE, with the goal of differentiating ARCUS on safety, high efficiency gene insertion, and complex edits aimed at restoring function for specific genetic diseases. We expect 2023 to be an important year as the first ARCUS nuclease for in vivo gene insertion is planned to move ...