Business
Precision BioSciences Reports Third Quarter 2022 Financial Results and Provides Business Update
- Allogeneic CAR T Program Updates Planned for Late Q4 2022 or Early Q1 2023 - Abstract Showcasing Functional Attributes of Azer-cel (PBCAR1091) Accepted for
About this update from Precision Biosciences, Inc.
[{"type":"text","content":"\n- Allogeneic CAR T Program Updates Planned for Late Q4 2022 or Early Q1 2023\n\n- Abstract Showcasing Functional Attributes of Azer-cel (PBCAR1091) Accepted for Presentation at the 64th American Society of Hematology (ASH) Annual Meeting\n\n- Preclinical Research on In Vivo Gene Editing Programs Presented at the European Society of Gene & Cell Therapy (ESGCT) 29th Congress\n\n- Strong Cash Position Provides More than Two Years of Expected Runway\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 third quarter ended September 30, 2022 and provided a business update.\n\n“Over the last year, Precision has made considerable progress against our corporate and development objectives. We executed a disciplined portfolio strategy to focus on human therapeutics, advanced our lead clinical stage CAR T programs, leveraged platform partnerships, and made data-informed decisions designed to maximize patient impact and extend our expected cash runway to the end of 2024,” said Michael Amoroso, Chief Executive Officer of Precision BioSciences. “We have refined the scope of our CAR T portfolio, focusing on PBCAR0191, known as azer-cel, in the growing CAR T-relapsed population, which has shown high complete response rates, long-term responses, and peak CAR T expansion on par with autologous CAR T in durable responders. We are also exploring the potential of our immune-evading stealth cell technology with PBCAR19B in earlier line DLBCL patients with the goal of displacing autologous CAR T treatment options. Looking ahead, our team is focused on executing and advancing our clinical stage CD19 targeted CAR T programs and providing a clinical update in late Q4 2022 or early Q1 2023, depending on patient accrual and follow-up.”\n\nMr. Amoroso continued, “We also advanced multiple in vivo gene editing programs, independently and with partners, highlighted by our research collaboration with Novartis in June and recent preclinical data shared at ESGCT. As a result of ARCUS’ versatility, recent high efficiency in vivo gene insertion data, and scientific progress with wholly-owned and partnered programs, we have commenced a portfolio review of our in vivo gene ed...