Precision BioSciences, Inc. reported its first-quarter financial results for the period ended March 31, 2025, on May 15, 2025. The company announced a net loss of $20.6 million, or $(2.21) per share, compared to a net income of $8.6 million, or $1.70 per share, for Q1 2024.
Total revenues for the quarter were less than $0.1 million, a significant decrease from $17.6 million in Q1 2024. This decline was primarily due to reduced revenue from collaboration agreements, including the conclusion of the Prevail agreement and decreased Novartis Agreement revenue.
Research and development expenses increased slightly to $13.6 million from $13.3 million, driven by increased direct costs for the prioritized PBGENE-DMD program. General and administrative expenses also saw a modest increase to $8.6 million from $8.4 million.
As of March 31, 2025, Precision BioSciences held $100 million in cash, cash equivalents, and restricted cash. The company projects this capital, along with expected operational receipts and ATM facility availability, will fund operations into the second half of 2026, supporting Phase 1 data readouts for PBGENE-HBV and PBGENE-DMD.
Operationally, the company highlighted initial safety and antiviral activity from the PBGENE-HBV ELIMINATE-B trial, U.S. IND approval, and Fast Track designation. It also accelerated the PBGENE-DMD program based on compelling preclinical data, targeting an IND/CTA filing in 2025 and clinical data in 2026. Clinical validation for the ARCUS platform was further reinforced by positive data from partner iECURE's ECUR-506 program.
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