$DTIL

PRECISION BIOSCIENCES INC

CIK:0001357874|SEC Filings

CONDENSED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
CONDENSED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 0	$ 18	$ 10,838	$ 47
Operating expenses
Research and development	12,394	12,768	25,504	26,356
General and administrative	6,767	9,127	13,570	17,680
Total operating expenses	19,161	21,895	39,074	44,036
Operating loss	(19,161)	(21,877)	(28,236)	(43,989)
Other (expense) income:
(Loss) gain from equity method investment	0	(665)	0	677
Loss on changes in other fair value adjustments	(244)	(2,464)	(3,195)	(2,415)
(Loss) gain on change in fair value of warrant liability	(13,891)	753	(20,998)	(51)
Interest expense	(300)	(358)	(611)	(712)
Interest income	943	1,116	1,942	2,439
Gain (loss) on disposal of assets	1	(25)	5	(34)
Total other expense	(13,491)	(1,643)	(22,857)	(96)
Net (loss) income	$ (32,652)	$ (23,520)	$ (51,093)	$ (44,085)
Net loss per share
Basic (in USD per shares)	$ (1.26)	$ (2.13)	$ (2.02)	$ (4.33)
Diluted (in USD per shares)	$ (1.26)	$ (2.13)	$ (2.02)	$ (4.33)
Weighted-average shares of common stock outstanding
Basic (in shares)	25,856,628	11,046,401	25,248,912	10,174,193
Diluted (in shares)	25,856,628	11,046,401	25,248,912	10,174,193
Share-based compensation expense	$ 1,844	$ 2,937	$ 3,393	$ 5,758

CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025
Cash flows used in operating activities:
Net loss	$ (51,093)	$ (44,085)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	552	773
Share-based compensation	3,393	5,759
(Gain) loss on disposal of assets	(5)	34
Non-cash interest expense	115	146
Amortization of right-of-use assets	691	628
Loss on changes in other fair value adjustments	3,195	2,415
Gain from equity method investment	0	(677)
Amortization of discount on note receivable	0	(451)
Loss on change in fair value of warrant liability	20,998	51
Changes in operating assets and liabilities:
Prepaid expenses	(885)	(1,009)
Marketable securities	80	464
Accounts receivable	0	229
Contract asset	0	1,469
Other assets and other current assets	120	(45)
Accounts payable	526	93
Other liabilities and other current liabilities	(2,342)	(4,441)
Deferred revenue	0	(43)
Lease liabilities	(724)	(633)
Net cash used in operating activities	(25,379)	(39,323)
Cash flows used in investing activities:
Purchases of property, equipment and software	(18)	(66)
Purchases of intangible assets	(100)	(265)
Proceeds from sale of equipment	5	5
Net cash used in investing activities	(113)	(326)
Cash flows provided by financing activities:
Proceeds from employee stock purchase plan	83	140
Proceeds from issuance of common stock through ATM facility, net of issuance cost	0	14,816
Proceeds from issuance of common stock to collaboration partners and licensees	662	1,031
Net cash provided by financing activities	745	15,987
Net decrease in cash and cash equivalents	(24,747)	(23,662)
Cash, cash equivalents, and restricted cash — beginning of period	137,153	108,468
Cash, cash equivalents, and restricted cash — end of period	112,406	84,806
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents	86,076	62,242
Restricted cash	26,330	22,564
Total of cash, cash equivalents and restricted cash	112,406	84,806
Supplemental disclosures of cash flow information:
Intangible asset additions included in accounts payable and accrued expenses and other current liabilities	200	0
Cash paid for interest	$ 599	$ 685

CONDENSED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 86,076	$ 110,823
Accounts receivable	0	0
Marketable securities	1,473	4,762
Prepaid expenses	3,995	3,110
Other current assets	5	45
Total current assets	91,549	118,740
Restricted cash	26,330	26,330
Property, equipment, and software—net	964	1,425
Intangible assets—net	1,093	1,166
Right-of-use assets—net	5,114	5,805
Investment in equity securities	744	744
Other assets	126	206
Total assets	125,920	154,416
Current liabilities:
Accounts payable	828	296
Accrued compensation	2,365	4,747
Accrued research and development expenses	1,751	1,714
Lease liabilities	1,608	1,507
Other current liabilities	588	649
Total current liabilities	7,140	8,913
Loan payable	22,421	22,404
Lease liabilities	4,072	4,897
Warrant liability	36,693	15,695
Contract liabilities	10,000	10,000
Other noncurrent liabilities	301	259
Total liabilities	80,627	62,168
Stockholders’ equity:
Preferred stock: $0.0001 par value— 10,000,000 shares authorized as of June 30, 2026 and December 31, 2025; no shares issued and outstanding as of June 30, 2026 and December 31, 2025	0	0
Common stock: $0.000005 par value— 200,000,000 shares authorized as of June 30, 2026 and December 31, 2025; 25,832,913 shares issued and 25,805,898 shares outstanding as of June 30, 2026; 24,115,346 shares issued and 24,088,425 shares outstanding as of December 31, 2025	1	1
Additional paid-in capital	625,525	621,387
Accumulated deficit	(579,281)	(528,188)
Treasury stock	(952)	(952)
Total stockholders’ equity	45,293	92,248
Total liabilities and stockholders’ equity	$ 125,920	$ 154,416