Precision BioSciences (DTIL) Q2 2026 earnings summary

Executive summary

• Focused on in vivo gene editing therapies for genetic and infectious diseases using the ARCUS platform, with lead programs in chronic hepatitis B (PBGENE-HBV) and Duchenne muscular dystrophy (PBGENE-DMD).

• Achieved first clinical biopsy evidence of direct cccDNA elimination in Phase 1 ELIMINATE-B trial for hepatitis B, with PBGENE-HBV showing a 1-log reduction and <1% cccDNA remaining after treatment.

• PBGENE-HBV demonstrated sustained pgRNA loss in 100% of evaluable patients, indicating durable viral elimination.

• Multiple clinical trial sites are recruiting for the Phase 1/2 FUNCTION-DMD trial, with initial safety data expected by year-end 2026.

• Achieved a $7.5 million milestone payment from TG Therapeutics for a clinical milestone in a partnered program.

Financial highlights

• Revenue for the six months ended June 30, 2026 was $10.8 million, up from less than $0.1 million in the prior year, driven by milestone and license payments.

• Net loss for the six months ended June 30, 2026 was $51.1 million, compared to $44.1 million in the prior year.

• Operating expenses decreased to $39.1 million from $44.0 million year-over-year, reflecting lower R&D and G&A costs.

• Cash, cash equivalents, and restricted cash totaled $112.4 million as of June 30, 2026.

• Net loss increased to $32.7 million ($1.26 per share) for Q2 2026, primarily due to non-cash fair value adjustments related to warrant liability.

Outlook and guidance

• Cash runway and ATM facility expected to fund operations and clinical milestones for PBGENE-HBV and PBGENE-DMD through 2028.

• Ongoing enrollment and data collection in clinical trials for PBGENE-HBV and PBGENE-DMD, with further updates expected by year-end 2026.

• FUNCTION-DMD trial actively recruiting, with initial safety data anticipated by year-end 2026.