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Dec 31, 2024
Precision BioSciences Q4 2024 Earnings Report
Precision BioSciences reported its Q4 2024 results, marked by decreased revenues and widened net losses due to higher research and development expenses.
Key Takeaways
The company reported a significant decline in Q4 2024 revenues compared to the previous year, accompanied by increased research and development expenses as clinical activities accelerated. Net losses expanded, reflecting operational investments and decreased collaboration revenues.
Revenue for Q4 2024 was $638,000, down from $7 million in Q4 2023.
Net loss totaled $17.8 million for the quarter, compared to $16.3 million in Q4 2023.
R&D expenses increased to $15.9 million as PBGENE-HBV clinical trials progressed.
Cash and cash equivalents stood at $108.5 million at the end of the quarter.
Precision BioSciences
Precision BioSciences
Forward Guidance
Precision BioSciences expects to continue progressing its clinical programs, with sufficient cash runway into the second half of 2026, enabling key data readouts.
Positive Outlook
- Cash runway projected through H2 2026.
- Planned data updates for PBGENE-HBV throughout 2025.
- Further expansion into higher dose cohorts in clinical trials.
- Continued support from strategic partnerships, including TG Therapeutics.
- Strong operational execution in clinical milestones.
Challenges Ahead
- Revenue declines from concluded collaborations.
- Ongoing operating losses anticipated.
- High R&D expenses likely to continue impacting margins.
- Dependency on successful milestone achievements for additional funding.
- Potential market risks and regulatory hurdles in clinical progression.