Precision BioSciences, Inc. Highlights
- Clinical-stage biotechnology company dedicated to improving life
- Utilizes novel and proprietary ARCUS® genome editing platform
- Developing Off-shelf Allogeneic CAR T cells & In vivo editing tools
- Net loss was $26.0 million
- Approximately $104.1 million in cash and cash equivalents.
Precision BioSciences, Inc. is a clinical-stage biotechnology company dedicated to improving life (DTIL) with its novel and proprietary ARCUS® genome editing platform. ARCUS is a highly specific and versatile genome editing platform that was designed with therapeutic safety, delivery, and control in mind. Using ARCUS, the Company’s pipeline consists of multiple “off-the-shelf” CAR T immunotherapy clinical candidates and several in vivo gene correction therapy candidates to cure genetic and infectious diseases where no adequate treatments exist.
Stock Information: (Nasdaq: DTIL)
Precision Biosciences Therapeutic Area & Portfolio
Off the Shelf Allogeneic CAR T Portfolio
PBCAR0191: In August 2020, Precision announced that the U.S. Food and Drug Administration (FDA) granted Fast Track Designation to PBCAR0191 for B-ALL. Precision also holds Orphan Drug Designation from the FDA for this program in mantle cell lymphoma (MCL), an aggressive subtype of non-Hodgkin lymphoma (NHL). PBCAR0191 is being developed in collaboration with Servier. Precision expects to present updated interim clinical data from both the NHL and B-ALL cohorts of this trial before year-end 2020 via a Company-sponsored event.
PBCAR269A
PBCAR269A (wholly owned) is an investigational allogeneic CAR T candidate targeting B-cell maturation antigen (BCMA), for the treatment of R/R multiple myeloma. PBCAR269A has received granted orphan drug destination and fast track designations.
PBCAR020A
Precision continues to enroll patients in the PBCAR020A, a wholly-owned investigational allogeneic anti-CD20 CAR T therapy, in patients with R/R NHL including patients with R/R chronic lymphocytic leukemia or R/R small lymphocytic lymphoma.
In Vivo Gene Correction Portfolio:
PH1 Program:
PH1 Program:
Pre-clinical research has continued to progress for Precision’s wholly-owned primary hyperoxaluria type 1 (PH1) gene correction program, which is designed to use ARCUS to knock-out the HAO1 gene as a potential one-time treatment for this rare genetic disease. The Company expects to provide an update on this program in the first half of 2021.
Collaborations
In September 2020, Precision announced a clinical collaboration with SpringWorks Therapeutics to evaluate PBCAR269A in combination with nirogacestat, SpringWorks’ investigational gamma secretase inhibitor. The companies have formed a joint steering committee to oversee the combination arm of Precision’s Phase 1/2a clinical study, which is expected to commence in the first half of 2021, pending discussions with regulators.
In November 2020, Eli Lilly and Company (NYSE: LLY) and Precision BioSciences, Inc. (Nasdaq: DTIL) announced a research collaboration and exclusive license agreement to utilize Precision's proprietary ARCUS® genome editing platform for the research and development of potential in vivo therapies for genetic disorders, with an initial focus on Duchenne muscular dystrophy (DMD) and two other undisclosed gene targets.
Collaborations
In September 2020, Precision announced a clinical collaboration with SpringWorks Therapeutics to evaluate PBCAR269A in combination with nirogacestat, SpringWorks’ investigational gamma secretase inhibitor. The companies have formed a joint steering committee to oversee the combination arm of Precision’s Phase 1/2a clinical study, which is expected to commence in the first half of 2021, pending discussions with regulators.
In November 2020, Eli Lilly and Company (NYSE: LLY) and Precision BioSciences, Inc. (Nasdaq: DTIL) announced a research collaboration and exclusive license agreement to utilize Precision's proprietary ARCUS® genome editing platform for the research and development of potential in vivo therapies for genetic disorders, with an initial focus on Duchenne muscular dystrophy (DMD) and two other undisclosed gene targets.
Financial Highlights for Q3 2020
Cash and Cash Equivalents: As of September 30, 2020, Precision had approximately $104.1 million in cash and cash equivalents.Revenues: Total revenues for the quarter ended September 30, 2020 were $7.4 million
Research and Development Expenses: Research and development expenses were $24.9 million for the quarter ended September 30, 2020.
General and Administrative Expenses: General and administrative expenses were $8.5 million for the quarter ended September 30, 2020
Net Loss: Net loss was $26.0 million, or $(0.50) per share, for the quarter ended September 30, 2020, compared to a net loss of $20.7 million, or $(0.41) per share, for the same period in 2019.
Reference
www.precisionbiosciences.com
https://precisionbiosciences.com/wp-content/uploads/2020/11/Precision-BioSciences-Corporate-Deck-November-2020-vF_.pdf
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