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Precision BioSciences reports Q4 EPS (26c), consensus (21c)
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Precision BioSciences reports Q4 EPS (26c), consensus (21c)

Reports Q4 revenue $10.6M, consensus $6.81M."2022 proved to be a significant year for Precision (DTIL)as we made considerable progress on clinical, manufacturing, research, and collaboration fronts toward building an end-to-end gene editing company. Over the last year, Precision has invested in manufacturing optimization with our allogeneic CAR T therapies, which resulted in improved product candidate attributes in azer-cel, a potential first-in-class allogeneic CAR T treatment for patients who have relapsed following autologous CAR T treatment. In addition, following the platform-wide manufacturing optimization in 2022, we are continuing to dose subjects with PBCAR19B in its Phase 1 clinical study," said Michael Amoroso, Chief Executive Officer of Precision BioSciences. "I’m very proud of our team’s work to align with the U.S. Food and Drug Administration on the azer-cel chemistry, manufacturing and controls package in late 2022 and look forward to providing updates on our allogeneic CAR T therapies as we progress towards key decision points on next steps for azer-cel and PBCAR19B." Mr. Amoroso continued, "We have continued to leverage the ARCUS gene editing platform in progressing multiple in vivo gene editing programs, independently and with select partners such as Novartis, Lilly (LLY), and iECURE, with the goal of differentiating ARCUS on safety, high efficiency gene insertion, and complex edits aimed at restoring function for specific genetic diseases. We expect 2023 to be an important year as the first ARCUS nuclease for in vivo gene insertion is planned to move towards a Clinical Trial Application (CTA) and/or an Investigational New Drug application. We look forward to providing progress updates on our in vivo gene editing pipeline, including meaningful learnings with our partnered programs, and next steps from our strategic prioritization exercise at the R&D Day planned for mid-2023."

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