Precision BioSciences reports Q4 EPS ($4.06), consensus ($2.05)

Reports Q4 revenue $7M, consensus $12.48M. Q4 includes $2.9M loss from discontinued operations for the quarter ended December 31, 2023. “2023 was a transformative year for Precision BioSciences as we fully transitioned to our core capability as an in vivo gene editing company rapidly advancing development of our wholly owned in vivo programs led by PBGENE-HBV and quickly followed by PBGENE-PMM. As a part of this transition, we successfully monetized our prior CAR T investments and completed a $40 million public offering, strengthening our balance sheet beyond Phase 1 readouts for both wholly owned programs,” said Michael Amoroso, President and CEO of Precision BioSciences. “We are well positioned to continue to execute against our objectives, having received regulatory feedback from the U.S. Food and Drug Administration and key regulatory agencies outside the U.S. which provided clarity and alignment to guide our planned investigational new drug and/or clinical trial application filings for PBGENE-HBV in 2024. In addition, our partner iECURE has advanced the first ARCUS-mediated gene editing program into the clinic, bolstering our confidence and establishing regulatory precedent for ARCUS in vivo gene editing programs with the potential to deliver a curative treatment for patients.”