DURHAM, N.C. — Precision BioSciences reported a wider second-quarter loss as the clinical-stage biotechnology company advanced gene-editing programs for chronic hepatitis B and Duchenne muscular dystrophy.
The company posted a net loss of $32.7 million, or $1.26 per share, for the quarter ended June 30, compared with a loss of $23.5 million, or $2.13 per share, a year earlier.
Precision reported no revenue during the quarter, compared with less than $100,000 in the second quarter of 2025.
Research and development expenses declined slightly to $12.4 million from $12.8 million. General and administrative expenses fell to $6.8 million from $9.1 million, reflecting lower employee-related costs and spending controls.
Other expenses increased to $13.5 million from $1.6 million, primarily because of a non-cash loss related to changes in the value of warrant liabilities. Precision said the adjustment did not affect its operating loss or cash runway.
The company ended the quarter with $112.4 million in cash, cash equivalents and restricted cash. Precision expects its existing resources, operating discipline and access to an at-the-market financing facility to support operations through 2028.
Precision said the funding should allow it to reach clinical data milestones for PBGENE-HBV and PBGENE-DMD.
PBGENE-HBV is being evaluated in the Phase 1 ELIMINATE-B trial as a potential treatment for chronic hepatitis B. The therapy is designed to target and eliminate covalently closed circular DNA, or cccDNA, which plays a central role in viral replication.
The company reported biopsy evidence showing a tenfold reduction in cccDNA-derived transcripts in one patient after two doses, with less than 1 percent remaining after treatment. Analysis of another patient suggested that repeated dosing increased the treatment’s effect.
Precision also said hepatitis B pre-genomic RNA became undetectable in all evaluable patients who had measurable levels before treatment. The loss was sustained for as long as six months at the time of the data cutoff.
No dose-limiting toxicities were observed among 16 patients across five cohorts, the company said. Precision continues to enroll patients and expects to provide another update on the trial by the end of 2026.
“The second quarter marked a defining moment for Precision BioSciences and the hepatitis B field,” CEO Michael Amoroso said.
Precision is also advancing PBGENE-DMD in the Phase 1/2 FUNCTION-DMD trial for boys ages 2 to 7 with Duchenne muscular dystrophy.
The treatment is designed to remove exons 45 through 55 of the dystrophin gene and restore production of a near full-length dystrophin protein. The company said the approach could potentially apply to about 60 percent of patients with Duchenne muscular dystrophy.
Trial sites at Arkansas Children’s Hospital and Washington University School of Medicine are actively recruiting patients. Initial safety data are expected by the end of 2026.
Precision also highlighted progress in partnered programs, including iECURE’s ECUR-506 gene-insertion therapy for ornithine transcarbamylase deficiency and Imugene’s azer-cel allogeneic CAR-T program in cancer.
The company also made several leadership changes. Alex Kelly was promoted from chief financial officer to chief operating officer, while Naresh Tanna was named chief financial officer. Chief Scientific Officer Cassie Gorsuch, Ph.D., expanded her responsibilities to include all research functions.
Precision was added to the Russell 2000 Index in June.
