Business
Precision BioSciences Reports Second Quarter 2024 Financial Results and Provides Business Update
- Wholly owned programs PBGENE-HBV for Chronic Hepatitis B virus and PBGENE-PMM for m.3243 mitochondrial disease on track for IND and/or CTA submissions in
About this update from Precision Biosciences, Inc.
[{"type":"text","content":"\n- Wholly owned programs PBGENE-HBV for Chronic Hepatitis B virus and PBGENE-PMM for m.3243 mitochondrial disease on track for IND and/or CTA submissions in 2024 and 2025, respectively\n\n\n- Expanded Hepatitis Scientific Advisory Board with addition of world-class clinical investigators Mark Sulkowski, M.D. and Jordan Feld, M.D., M.P.H.\n\n\n- Sufficient capital to realize Phase 1 clinical data for multiple in vivo gene editing programs; Expected cash runway into the second half of 2026\n\n\n- Regained control of three advanced preclinical programs for development internally or with partners, including a novel gene editing approach for Duchenne Muscular Dystrophy\n\n\n DURHAM, N.C.--(BUSINESS WIRE)--\nPrecision BioSciences, Inc. (Nasdaq: DTIL), an advanced gene editing company utilizing its novel proprietary ARCUS® platform to develop in vivo gene editing therapies for sophisticated gene edits, including gene elimination, gene insertion, and gene excision, today announced financial results for the second quarter ended June 30, 2024 and provided a business update.\n\n\n“During the first half of 2024 we have made excellent progress against our key priorities. We rapidly advanced PBGENE-HBV toward planned investigational new drug (IND) submission and/or clinical trial application (CTA) in 2024. We believe we are in a strong position to advance our first wholly owned in vivo gene editing program into the clinic. PBGENE-HBV is expected to be the first and only potentially curative gene editing program to enter the clinic that is specifically designed to provide a functional cure for chronic Hepatitis B by eliminating the root source of viral replication. I’m proud of our team’s operational progress this year, including nearing completion of final toxicology studies, production of final clinical trial material, onboarding global clinical study sites in multiple countries to conduct the Phase 1 trial, and adding world-class clinicians to our Hepatitis Scientific Advisory Board,” said Michael Amoroso, President and Chief Executive Officer of Precision BioSciences.\n\n\n“While advancing PBGENE-HBV as our first operational priority in 2024, we have also made steady progress on our second wholly owned program PBGENE-PMM for 3243 mutated (m.3243) mitochondrial disease, which is targeted for IND and/or CTA filing in 2025.”\n\n\n“As we ente...