Precision BioSciences prices $125 million offering, extends runway to Q4 2029

Precision BioSciences priced an underwritten offering on November 5, 2026 of 10,235,077 shares of its common stock at a price of $7.75 per share and, in lieu of common stock to certain investors, pre-funded warrants to purchase up to 5,893,964 shares of its common stock at a price of $7.749995 per pre-funded warrant¹. The company said gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses, are expected to be approximately $125 million¹, with closing expected on or about November 6, 2026, subject to customary closing conditions¹. TD Cowen and Guggenheim Securities served as joint book-running managers.

Precision said it intends to use the net proceeds of the offering to fund the continued research and development of PBGENE-HBV and PBGENE-DMD, and for working capital and general corporate purposes¹. In a subsequent 8-K, the company said net proceeds from the offering, in addition to existing cash and cash equivalents, continued fiscal and operating discipline, and availability of its at-the-market facility, will provide sufficient cash runway into the fourth quarter of 2029, which it said is sufficient to fund both PBGENE-HBV and PBGENE-DMD clinical programs through key next stage inflection points.² That extends the runway guidance from the company's November 3 quarterly release, which had cited a cash runway through 2028³ based on then-current cash.

The financing followed November 5 news that based on the Phase 1 ELIMINATE-B findings, Precision selected 0.4 mg/kg as the go-forward dose for PBGENE-HBV and is initiating a global ELIMINATE-B2 Phase 2 study⁴, with dosing expected to begin in the first quarter of 2027, and a PBGENE-DMD safety update in which the first patient dosed with PBGENE-DMD completed the eight week observation period following treatment with no reported safety concerns, including no serious adverse events or adverse events of special interest reported through week eight, and the independent DSMB for the FUNCTION-DMD clinical trial endorsed proceeding with dosing additional patients in Part 1 of the study⁴.