Precision BioSciences, Inc. announced its financial results for the fourth quarter and fiscal year ended December 31, 2024, on March 26, 2025. Total revenues for Q4 2024 were $0.6 million, a decrease from $7.0 million in Q4 2023, primarily due to the conclusion of the Prevail agreement and reduced Novartis Agreement revenue.
The net loss for Q4 2024 was $17.8 million, or $(2.22) per share, compared to a net loss of $16.3 million, or $(4.06) per share, for the same period in 2023. Research and development expenses increased to $15.9 million, driven by PBGENE-HBV entering clinical trials, partially offset by other R&D cost reductions.
As of December 31, 2024, the company held $108.5 million in cash, cash equivalents, and restricted cash. This capital, combined with expected operational receipts and ATM facility availability, is projected to extend Precision's cash runway into the second half of 2026, sufficient to fund two wholly-owned programs through Phase 1 data readouts.
Operationally, 2024 was a transformational year, with the company solidifying its focus on in vivo gene editing. Precision commenced its Phase 1 ELIMINATE-B clinical trial for PBGENE-HBV, the first gene editing technology studied for Hepatitis B, and received IND clearance from the U.S. FDA. Additionally, partner iECURE announced a complete clinical response in the first infant dosed in the OTC-HOPE study, validating the ARCUS platform for gene insertion.
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