Precision BioSciences has outlined its 2026 strategy, centering on the advancement of two clinical‑stage gene‑editing programs—PBGENE‑HBV for chronic hepatitis B and PBGENE‑DMD for Duchenne muscular dystrophy—while confirming a robust cash position that should support clinical milestones through 2028.
The company’s Phase 1/2a ELIMINATE‑B trial for PBGENE‑HBV is actively enrolling patients across multiple dosing cohorts worldwide. Data updates are scheduled for presentation at major medical conferences in 2026, following a November 2025 AASLD presentation that demonstrated dose‑dependent antiviral activity and a favorable safety profile. PBGENE‑HBV has received Fast Track designation from the FDA, underscoring its potential to address a large unmet need in chronic hepatitis B treatment.
For PBGENE‑DMD, the Phase 1/2 FUNCTION‑DMD trial is expected to receive IND clearance in Q1 2026, with the first patient dose anticipated in late‑Q1 or early‑Q2 2026. Initial efficacy data from multiple patients are projected for the end of 2026, aligning with the program’s regulatory roadmap. The therapy has earned Rare Pediatric Disease designation from the FDA, highlighting its significance for a rare and debilitating condition.
Precision disclosed that its unaudited cash, cash equivalents, and restricted cash totaled $137 million as of December 31 2025—up from $108.5 million at the end of 2024. The company’s negative free cash flow of $73.44 million over the last twelve months indicates a substantial burn rate, yet the current balance, combined with potential milestone payments, is projected to fund clinical milestones through 2028, providing a multi‑year runway without immediate dilution.
CEO Michael Amoroso emphasized disciplined progress across the pipeline, noting that “multiple dosing cohorts are underway in our global Phase 1/2a ELIMINATE‑B trial, and our first‑in‑class gene‑editing approach for DMD is entering the clinic in early 2026. With cash runway through 2028, we expect continued operational excellence and clear clinical and regulatory milestones for these potentially transformative therapies.”
Investors have noted the company’s cash position and strategic focus, while the stock has been trading near its 52‑week low. Market sentiment remains mixed, reflecting both optimism about the pipeline and caution regarding the company’s high valuation relative to its current earnings profile.
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