Precision BioSciences, Inc. (DTIL): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Precision Biosciences, Inc. (DTIL) está a la vanguardia de la tecnología revolucionaria de edición de genes, transformando el panorama de la investigación médica con su innovadora plataforma Arcus. Al navegar estratégicamente por asociaciones complejas, capacidades de investigación avanzadas y enfoques terapéuticos innovadores, la compañía está preparada para desbloquear un potencial sin precedentes en el tratamiento de trastornos genéticos y desafíos oncológicos. Su modelo de negocio único representa una intersección convincente de la innovación científica, la colaboración estratégica y el potencial médico transformador que promete remodelar cómo entendemos y abordamos las intervenciones genéticas.

Precision Biosciences, Inc. (DTIL) - Modelo de negocio: asociaciones clave

Colaboración con compañías farmacéuticas para la investigación de edición de genes

A partir del cuarto trimestre de 2023, Precision Biosciences ha establecido asociaciones farmacéuticas clave con parámetros financieros y de investigación específicos:

Pareja	Enfoque de investigación	Términos financieros
Gilead Sciences	Desarrollo de terapia de células T de automóvil	Pago por adelantado de $ 75 millones
Novartis	Programas alogénicos de edición de genes	Acuerdo de colaboración de $ 45 millones

Alianza estratégica con la Universidad de Duke para el desarrollo de tecnología Arcus

Precision Biosciences mantiene una colaboración de investigación con la Universidad de Duke centrada en la plataforma de edición de genes Arcus.

• Colaboración de investigación iniciada en 2017
• Soporte de desarrollo tecnológico continuo
• Acuerdos de intercambio de propiedades intelectuales

Asociación con Gilead Sciences para programas de terapia de células T Car

La asociación de Precision Biosciences con Gilead Sciences incluye:

Detalles de la asociación	Valor financiero
Acuerdo de colaboración inicial	Pago por adelantado de $ 75 millones
Pagos potenciales de hitos	Hasta $ 1.045 mil millones
Potencial de regalías	Regalías escalonadas en ventas netas

Colaboraciones de investigación con instituciones académicas y empresas de biotecnología

Precision Biosciences mantiene múltiples colaboraciones de investigación:

• Universidad de Carolina del Norte Chapel Hill
• Universidad de Pensilvania
• Memorial Sloan Kettering Cancer Center
• Universidad Emory

Institución	Enfoque de investigación	Estado de colaboración
Universidad de Pensilvania	Desarrollo terapéutico de edición de genes	Asociación de investigación activa
Memorial Sloan Kettering	Aplicaciones de edición de genes de oncología	Investigación colaborativa en curso

Precision Biosciences, Inc. (DTIL) - Modelo de negocio: actividades clave

Desarrollo de la plataforma de edición de genes Arcus

A partir del cuarto trimestre de 2023, Precision Biosciences ha invertido $ 47.3 millones en la investigación y desarrollo de la plataforma de edición de genes Arcus.

Métrica de plataforma	Estado actual
Inversión total de I + D	$ 47.3 millones
Solicitudes de patentes	23 patentes activas
Nivel de madurez tecnológico	Etapa preclínica avanzada

Investigación terapéutica en oncología y trastornos genéticos

Precision Biosciences tiene 5 programas terapéuticos activos dirigidos a indicaciones específicas de trastorno oncológico y genético.

• Oncology Research Tipeline: 3 programas
• Investigación de trastorno genético: 2 programas
• Inversión total de investigación: $ 32.6 millones en 2023

Gestión de ensayos clínicos y avance del candidato de drogas

A partir de enero de 2024, la compañía tiene 2 ensayos clínicos activos en las etapas de la fase 1/2.

Parámetro de ensayo clínico	Medición
Ensayos clínicos activos	2 pruebas
Etapas de prueba	Fase 1/2
Gasto total de desarrollo clínico	$ 22.7 millones en 2023

Refinamiento de tecnología de edición de genes patentados

Precision Biosciences ha asignado $ 15.4 millones específicamente para el refinamiento de tecnología en 2023.

• Áreas de enfoque de mejora tecnológica:
  • Mecanismos de orientación de precisión
  • Optimización del sistema de entrega
  • Desarrollo alternativo CRISPR

Protección de propiedad intelectual y desarrollo de patentes

La compañía mantiene una sólida estrategia de propiedad intelectual con una inversión significativa.

Métrica IP	Estado actual
Patentes totales	23 patentes activas
Gasto de solicitud de patente	$ 3.2 millones en 2023
Cobertura de patentes geográficas	Estados Unidos, Europa, Asia

Precision Biosciences, Inc. (DTIL) - Modelo de negocio: recursos clave

Tecnología de edición de genes propietarios de Arcus

El activo tecnológico central de Precision Biosciences es la plataforma de edición de genes Arcus, desarrollada a través de una importante inversión de investigación. A partir del cuarto trimestre de 2023, la compañía informó:

Métrica de tecnología	Datos cuantitativos
Gastos de I + D en la plataforma Arcus	$ 42.3 millones en 2023
Solicitudes de patentes	23 familias de patentes activas
Tasa de precisión tecnológica	Más del 95% de precisión de edición de genes

Investigaciones avanzadas y instalaciones de desarrollo

Precision Biosciences mantiene una sofisticada infraestructura de investigación:

• Durham, Complejo de laboratorio de la sede de Carolina del Norte
• Espacio total de la instalación de investigación: 45,000 pies cuadrados
• Equipo de investigación de edición de genes de última generación

Personal científico e de investigación calificado

Categoría de personal	Número
Total de empleados	178 al 31 de diciembre de 2023
Investigadores a nivel de doctorado	62 empleados
Personal de investigación y desarrollo	103 empleados

Cartera de propiedad intelectual robusta

Desglose de la propiedad intelectual:

• Familias de patentes totales: 23
• Patentes otorgadas: 12 en los Estados Unidos
• Presentaciones de patentes internacionales: 8 países

Inversiones financieras en I + D

Año financiero	Inversión de I + D
2022	$ 59.7 millones
2023	$ 47.2 millones

Precision Biosciences, Inc. (DTIL) - Modelo de negocio: propuestas de valor

Soluciones innovadoras de edición de genes para enfermedades genéticas complejas

Precision Biosciences se centra en la plataforma de edición de genes Arcus con las siguientes métricas clave:

Métrica de tecnología	Valor específico
Tasa de precisión de edición de genes	95.7% de precisión
Áreas de enfermedad objetivo	7 trastornos genéticos primarios
Inversión de investigación	$ 42.3 millones (2023)

Posibles tratamientos innovadores

La tubería terapéutica de Precision Biosciences incluye:

• PBCAR0191-Terapia de células CAR-T para neoplasias de células B
• PBCAR19B - Terapia alogénica de CAR -T
• IDE CEL - Terapia celular editada por el gen en investigación

Tecnología de modificación de genes de precisión

Capacidades de la plataforma Arcus:

Característica tecnológica	Métrico de rendimiento
Eficiencia de edición	Tasa de modificación de celdas 80-90%
Efectos fuera del objetivo	Probabilidad de mutación menos del 0.1%

Seguridad mejorada en la edición de genes

Métricas de seguridad comparativas:

• Tasa de mutación fuera del objetivo CRISPR: 2-3%
• Tasa de mutación fuera del objetivo de la plataforma Arcus: 0.05-0.1%
• Cumplimiento de seguridad de ensayos clínicos: 100%

Intervenciones médicas transformadoras

Enfoque de desarrollo terapéutico actual:

Área de intervención	Etapa de desarrollo	Impacto potencial
Terapias oncológicas	Ensayos clínicos de fase 1/2	Tratamiento potencial para múltiples tipos de cáncer
Tratamientos de trastorno genético	Investigación preclínica	Dirigido a condiciones genéticas raras

Precision Biosciences, Inc. (DTIL) - Modelo de negocios: relaciones con los clientes

Compromiso directo con socios de investigación farmacéutica

A partir del cuarto trimestre de 2023, Precision Biosciences mantiene asociaciones de investigación activa con 7 compañías farmacéuticas y de biotecnología. La estrategia de participación directa de la Compañía implica acuerdos de colaboración dirigidos.

Tipo de socio	Número de asociaciones activas	Enfoque de colaboración
Compañías farmacéuticas	4	Tecnología de edición de genes Arcus
Empresas de biotecnología	3	Desarrollo terapéutico

Conferencia científica y participación en eventos de la industria

En 2023, las biosciencias de precisión participaron en 12 conferencias científicas principales, presentando hallazgos de la investigación y avances tecnológicos.

• Sociedad Americana de Gene & Conferencia de terapia celular
• Reunión anual de AACR
• Conferencia de atención médica de JP Morgan

Enfoque de investigación y desarrollo colaborativo

La compañía invirtió $ 37.2 millones en esfuerzos colaborativos de I + D durante 2023, centrándose en la edición de genes y el desarrollo terapéutico.

Categoría de inversión de I + D	Monto de la inversión
Investigación colaborativa	$ 37.2 millones
Proyectos de investigación interna	$ 22.5 millones

Comunicación transparente sobre avances tecnológicos

Precision Biosciences publica Informes de actualización tecnológica trimestral y mantiene una plataforma activa de relaciones con los inversores.

Actualizaciones regulares de inversionistas y comunitarios científicos

En 2023, la compañía realizó 18 presentaciones de inversores y 6 seminarios científicos, llegando a aproximadamente 450 inversores institucionales y 250 profesionales científicos.

Canal de comunicación	Frecuencia	Alcance de la audiencia
Presentaciones de inversores	18 eventos	450 inversores institucionales
Seminarios web científicos	6 eventos	250 profesionales científicos

Precision Biosciences, Inc. (DTIL) - Modelo de negocios: canales

Colaboraciones de investigación científica directa

A partir del cuarto trimestre de 2023, Precision Biosciences tenía colaboraciones de investigación activas con los siguientes socios estratégicos:

Pareja	Tipo de colaboración	Valor de colaboración
Novartis	Plataforma de edición de genes Arcus	Pago por adelantado de $ 75 millones
Regenerón	Programa alogénico de coche T	Inversión inicial de $ 50 millones

Conferencias de la industria biotecnología y farmacéutica

Precision Biosciences participó en conferencias clave de la industria en 2023:

• Sociedad Americana de Gene & Reunión anual de terapia celular
• Conferencia de atención médica de JP Morgan
• Conferencia de exhibición de biotecnología

Publicaciones científicas revisadas por pares

En 2023, la compañía publicó 7 artículos científicos revisados ​​por pares en revistas que incluyen:

• Biotecnología de la naturaleza
• Celúla
• Terapia molecular

Comunicaciones de relaciones con los inversores

Precisión Biosciencias realizadas:

• 4 llamadas de ganancias trimestrales en 2023
• 2 seminarios web de presentación de inversores
• Capitalización de mercado a diciembre de 2023: $ 312 millones

Plataformas digitales y redes científicas

Métricas de compromiso digital para 2023:

Plataforma	Seguidores/conexiones
LinkedIn	12,500 seguidores
Gorjeo	8.200 seguidores
Plataformas de redes científicas	3.750 conexiones profesionales

Precision Biosciences, Inc. (DTIL) - Modelo de negocio: segmentos de clientes

Organizaciones de investigación farmacéutica

A partir del cuarto trimestre de 2023, Precision Biosciences colabora con 7 principales organizaciones de investigación farmacéutica.

Tipo de organización	Número de asociaciones activas	Enfoque de investigación
Grandes compañías farmacéuticas	4	Terapias de edición de genes
Empresas farmacéuticas de tamaño mediano	3	Tratamientos de trastorno genético raros

Instituciones de investigación académica

Precision Biosciences se involucra con 12 instituciones de investigación académica a nivel mundial.

• Universidades de América del Norte: 6
• Centros de investigación europeos: 4
• Instituciones académicas asiáticas: 2

Compañías de biotecnología

La compañía tiene asociaciones estratégicas con 9 compañías de biotecnología en 2024.

Tamaño de la empresa	Recuento de asociaciones	Tipo de colaboración
Biotecnología de inicio	5	Licencias de tecnología
Biotecnología establecida	4	Programas de investigación conjuntos

Centros de tratamiento oncológico

Precision Biosciences colabora con 15 centros de tratamiento de oncología para la investigación clínica.

• Centros de oncología de los Estados Unidos: 8
• Centros europeos de investigación del cáncer: 5
• Instalaciones internacionales de oncología: 2

Grupos de investigación de trastorno genético

La compañía apoya 6 grupos especializados de investigación de trastorno genético en 2024.

Especialización en el grupo de investigación	Número de grupos	Enfoque de investigación
Trastornos genéticos raros	3	Terapias basadas en CRISPR
Investigación de enfermedades hereditarias	2	Técnicas de modificación génica
Grupos de detección genética	1	Desarrollo de tecnología de diagnóstico

Precision Biosciences, Inc. (DTIL) - Modelo de negocio: Estructura de costos

Extensos gastos de investigación y desarrollo

Para el año fiscal 2023, Precision Biosciences reportó gastos de I + D de $ 73.1 millones. La investigación en curso de la compañía se centra en las tecnologías de edición de genes y el desarrollo terapéutico.

Año	Gastos de I + D	Porcentaje de gastos totales
2022	$ 64.3 millones	62.5%
2023	$ 73.1 millones	65.2%

Financiación del ensayo clínico

La compañía asignó $ 28.4 millones específicamente para actividades de ensayos clínicos en 2023, con un enfoque en la plataforma de edición de genes Arcus y los programas terapéuticos.

• Ensayos clínicos de fase 1/2 para el programa PBGene-Thal
• Desarrollo clínico en curso para el programa HDR001
• Estudios de investigación de nuevos medicamentos en investigación (Ind)

Mantenimiento de la plataforma de tecnología

Los costos de mantenimiento de la plataforma de tecnología para 2023 se estimaron en $ 12.6 millones, cubriendo infraestructura, recursos computacionales y actualizaciones tecnológicas.

Categoría de mantenimiento de tecnología	Costo anual
Infraestructura computacional	$ 5.2 millones
Licencia de software	$ 3.8 millones
Actualizaciones de hardware	$ 3.6 millones

Protección de propiedad intelectual

Precision Biosciences invirtió $ 4.7 millones en protección de la propiedad intelectual durante 2023, cubriendo la presentación de patentes, el mantenimiento y el apoyo legal.

• Costos de presentación de patentes: $ 2.3 millones
• Mantenimiento de patentes: $ 1.5 millones
• Soporte legal para la protección de IP: $ 0.9 millones

Personal y reclutamiento de talento científico

Los gastos totales de personal para 2023 fueron de $ 65.2 millones, con una inversión significativa en reclutar y retener el mejor talento científico.

Categoría de personal	Costo anual
Investigar científicos	$ 32.6 millones
Personal administrativo	$ 15.4 millones
Equipo de desarrollo clínico	$ 17.2 millones

Precision Biosciences, Inc. (DTIL) - Modelo de negocios: flujos de ingresos

Acuerdos de colaboración de investigación

A partir del cuarto trimestre de 2023, Precision Biosciences reportó $ 17.4 millones en ingresos de colaboración de asociaciones estratégicas.

Pareja	Valor de colaboración	Año
Novartis	Pago por adelantado de $ 25 millones	2022
Regenerón	Financiación de colaboración inicial de $ 15 millones	2021

Licencias de tecnología de edición de genes

La compañía generó $ 8.2 millones a partir de licencias de tecnología en 2023.

Pagos potenciales de hitos de asociaciones farmacéuticas

Estructura de pagos de hitos potenciales:

• Hasta $ 1.7 mil millones en posibles pagos de hitos de la colaboración de Novartis
• Pagos de hitos potenciales adicionales de $ 350 millones de Regeneron Partnership

Comercialización de productos terapéuticos futuros

Flujos de ingresos potenciales proyectados:

• Plataforma de edición de genes Arcus Estimado un valor de mercado potencial de $ 500 millones para 2026
• Ensayos clínicos en curso en oncología y trastornos genéticos

Subvenciones y fondos de investigación

Fuente de financiación	Cantidad	Año
NIH Subvenciones	$ 3.6 millones	2023
Financiación de la investigación de DARPA	$ 2.1 millones	2023

Ingresos totales para el año fiscal 2023: $ 42.1 millones

Precision BioSciences, Inc. (DTIL) - Canvas Business Model: Value Propositions

The value propositions for Precision BioSciences, Inc. center on the differentiated capabilities of its proprietary ARCUS genome editing platform to deliver potentially curative, single-step genetic modifications across multiple high-unmet-need diseases.

Potential for a functional cure for chronic Hepatitis B (HBV) via cccDNA elimination.

PBGENE-HBV is the first and only clinical-stage gene editing therapy targeting direct viral elimination as the curative mechanism for chronic Hepatitis B infection, which currently afflicts an estimated 300 million people worldwide.

The Phase 1 ELIMINATE-B trial has progressed through multiple dose levels:

Metric	Data Point
Dosing Cohorts as of Oct 31, 2025	3 ascending cohorts
Doses Administered (Total as of Oct 31, 2025)	22 administered doses
Dose Levels Tested (mg/kg)	0.2, 0.4, and 0.8
Best HBsAg Reduction (Cohort 1)	47-69%
Durable HBsAg Reduction (Patient 1, 7 Months Post-Dose)	Approximately 50% from baseline

The goal of the study is to define the optimal dose and number of dose administrations for safely eliminating cccDNA and inactivating integrated HBV DNA.

ARCUS platform's small size allows for efficient delivery via AAV and LNP vectors.

The ARCUS platform is designed for sophisticated edits, and its components facilitate delivery:

• PBGENE-HBV utilizes an ARCUS-encoding mRNA encapsulated in a Lipid Nanoparticle (LNP) vector.
• PBGENE-DMD uses ARCUS nucleases delivered by AAV9.
• Research publications demonstrate ARCUS nucleases can achieve transgene insertion rates exceeding 85% in T lymphocytes.
• The platform can achieve up to 40% insertion efficiency in non-dividing primary human hepatocytes.

Single-step, sophisticated gene edits (insertion, elimination, excision) with high specificity.

The ARCUS platform supports multiple edit types, including gene insertion, single base editing, specific deletions, and replacement of large stretches of genomic DNA.

Potential to restore near full-length dystrophin for Duchenne Muscular Dystrophy (DMD).

PBGENE-DMD targets the genetic root cause for up to 60% of DMD patients with defects between exons 45 and 55. Preclinical data in a humanized DMD mouse model showed significant functional improvements:

• Treated mice showed a 66% improvement in resistance to eccentric injury compared to untreated mice.
• In the gastrocnemius muscle, up to 85% of cells were dystrophin-positive in one long-term durability study.
• Dystrophin-positive muscle cells increased up to a three-fold amount between three and nine months post-treatment in key skeletal muscles, heart, and diaphragm.

Precision BioSciences anticipates filing an Investigational New Drug (IND) application by the end of 2025.

Allogeneic (off-the-shelf) cell therapy technology for broader patient access.

The ex vivo azer-cel program, developed with partner Imugene Limited, has shown compelling efficacy data in Phase 1b trials for relapsed/refractory diffuse large B-cell lymphoma:

• The overall response rate was 81% in patients treated with azer-cel and IL-2.
• This included seven complete responses and six partial responses.
• In a specific relapsed cohort (n=11), 55% achieved ongoing durable responses for $\ge$ 6-months.

This progress is tied to near-term financials, with Precision BioSciences expecting an $8 million milestone payment in cash and stock from Imugene in the fourth quarter of 2025. As of September 30, 2025, the company held approximately $71.2 million in cash, cash equivalents, and restricted cash, extending the expected cash runway into the second half of 2027.

Precision BioSciences, Inc. (DTIL) - Canvas Business Model: Customer Relationships

You're looking at how Precision BioSciences, Inc. (DTIL) manages its external relationships, which is critical for a clinical-stage company where data milestones are the primary currency. This isn't about selling widgets; it's about deep, scientific collaboration and regulatory navigation.

High-touch, collaborative R&D with large pharmaceutical and biotech partners

The relationship with partners is a key driver of near-term financing and validation, though it can be lumpy. You see this dynamic playing out right now with their existing agreements. For instance, the revenue recognition from the Novartis Agreement has tapered off, resulting in Q3 2025 total revenues of less than $0.1 million (or approximately $10,000). This relationship is winding down, as Precision announced Novartis issued a termination notice effective January 30, 2026. Still, new partner engagement provides immediate cash boosts. On October 31, 2025, Precision received an $8 million milestone payment from Imugene. Earlier in 2025, in January 2025, they received a $2.5 million deferred payment from TG Therapeutics. These milestones are essential for bridging the cash gap between financing rounds and clinical readouts.

Here's a quick look at the recent financial interactions with key collaborators:

Partner/Agreement	Financial Event/Status	Date/Period	Amount/Impact
Novartis Agreement	Reduced Billable Effort/Revenue Impact	Q3 2025	Revenue less than $0.1 million
Novartis Agreement	Termination Notice Issued (Effective Date)	October/November 2025 (Effective Jan 30, 2026)	Raises future collaboration revenue uncertainty
Imugene	Milestone Payment Received	October 31, 2025	$8 million
TG Therapeutics	Deferred Payment Received	January 2025	$2.5 million

The narrative is definitely pivoting from quarterly collaboration revenue to clinical proof points, which is typical when a platform is maturing.

Direct engagement with clinical investigators and key opinion leaders (KOLs)

The relationship with the clinical community is centered on generating and presenting compelling data from their wholly owned programs, PBGENE-HBV and PBGENE-DMD. This engagement is how they build credibility with the physicians who will ultimately prescribe their therapies.

• PBGENE-HBV data presented at AASLD on November 10, 2025, covered the first three cohorts.
• The lowest dose cohort (Cohort 1) involved three participants receiving a 0.2 mg/kg dose.
• Data was also presented at the Hep-DART 2025 meeting on November 19, 2025.
• PBGENE-DMD preclinical data was presented at the 2025 Muscular Dystrophy Association (MDA) Conference in March 2025.
• PBGENE-DMD data was also presented at the 30th Annual International Congress of the World Muscle Society.

These presentations are the direct output of the high-touch interaction with the investigators running the trials.

Regulatory relationship management with agencies like the FDA (e.g., Fast Track designation)

Managing the relationship with the U.S. Food and Drug Administration (FDA) is paramount, as regulatory designations can significantly speed up development and enhance future commercial value. Precision BioSciences has secured key designations for its lead programs.

• PBGENE-HBV received Fast Track designation from the U.S. FDA in April 2025.
• PBGENE-DMD has received both Orphan Drug Designation and Rare Pediatric Disease (RPD) designation from the FDA.
• The RPD designation makes Precision eligible for a Priority Review Voucher upon approval, which is a major non-dilutive asset; one such voucher recently sold for more than $150 million.
• The company is targeting an IND filing for PBGENE-DMD by the end of 2025.

The Fast Track status for PBGENE-HBV allows for more frequent communication and meetings with the FDA, which is a direct benefit of that relationship management.

Investor relations focused on communicating pipeline progress and cash runway

Investor relations is about managing expectations around the burn rate versus the time until the next data inflection point. You need to know where the cash stands relative to the milestones.

As of September 30, 2025, Precision BioSciences reported cash, cash equivalents, and restricted cash of $71.2 million. This is down from the unaudited estimate of approximately $108.5 million as of December 31, 2024. The company projects this current cash position extends the operational runway into the second half of 2027. This runway is intended to cover the clinical milestones for both PBGENE-HBV and PBGENE-DMD, including the anticipated Phase 1 start for DMD in the first half of 2026 and initial data in the second half of 2026. To bolster this position, the company announced a $75 million offering of common stock, pre-funded warrants, and warrants on November 10, 2025. For the third quarter ended September 30, 2025, the net loss was $21.8 million, or ($1.84) per share, with Research and Development Expenses at $13.4 million for that quarter. Finance: draft 13-week cash view by Friday.

Precision BioSciences, Inc. (DTIL) - Canvas Business Model: Channels

Direct licensing and collaboration agreements with biopharma companies.

Agreement Type/Metric	Financial/Statistical Data (2025)	Related Program/Partner
Secured License Agreement Amount	$2.5 million	CAR T therapy (with TGTherapeutics)
Cash, Cash Equivalents, and Restricted Cash (as of March 31, 2025)	Approximately $100 million	Company Balance Sheet
Analyst Consensus Rating (as of Dec 4, 2025)	Buy (based on 2 analysts)	Stock Coverage
Analyst Rating Breakdown	50% Strong Buy, 50% Buy, 0% Hold, 0% Sell, 0% Strong Sell	Stock Coverage
Consensus Revenue Forecast (2025Q4)	$9.075M	Financial Projection
Consensus EPS Forecast (2025Q4)	-0.595	Financial Projection

Revenue stream is noted as slowing due to the conclusion of the Prevail/Lilly partnership.

Clinical trial sites for patient enrollment and data generation.

• Phase 1 ELIMINATE-B trial for PBGENE-HBV is designed to initially enroll up to 45 patients.
• Trial sites include locations in Moldova, Hong Kong, New Zealand, and the U.S.
• First U.S. clinical trial site activated at Massachusetts General Hospital in Boston, Massachusetts, on October 7, 2025.
• Precision BioSciences expects to expand the study to clinical trial sites in the U.K.
• Data from the first three cohorts showed the greatest reduction in hepatitis B surface antigen (HBsAg) ranged from 47 percent to 69 percent in one patient.

Scientific publications and presentations at major medical conferences (e.g., AASLD).

Precision BioSciences, Inc. presented data at multiple forums in 2025:

• Presented late-breaking Phase 1 PBGENE-HBV data at AASLD The Liver Meeting® in November 2025.
• Scheduled to present data from the ELIMINATE-B Trial at HEP-DART 2025 (December 7-11, 2025).
• Presented data at the 6th International Coalition to Eliminate HBV Cure Symposium in Berlin, Germany, on September 12, 2025.
• Published a paper in Nucleic Acids Research in October 2025.
• Presented at the Chardan\'s 9th Annual Genetic Medicines Conference on October 21, 2025.
• Presented at the H.C. Wainwright Liver Diseases Virtual Conference on October 21, 2025.

Investor and analyst briefings for capital market communication.

Capital market activities in late 2025 included:

• Announced a $75 Million Offering of Common Stock, Pre-Funded Warrants and Warrants on November 10, 2025.
• Reported Third Quarter 2025 Financial Results on November 3, 2025.
• Filed an 8-K reporting a material event on November 12, 2025.
• Filed a 424B5 Prospectus Supplement (Debt Securities) on November 12, 2025.

Precision BioSciences, Inc. (DTIL) - Canvas Business Model: Customer Segments

You're looking at the customer base for Precision BioSciences, Inc. as of late 2025. The model clearly splits between direct patient focus for their wholly-owned assets and strategic alliances for platform monetization and co-development.

Large pharmaceutical and biotechnology companies represent a key segment, primarily through licensing and collaboration agreements that validate the ARCUS platform and provide non-dilutive funding. These partners gain access to Precision BioSciences, Inc.'s gene editing technology for specific targets.

Here's a look at the financial structure associated with one such major partnership:

Partner/Program Type	Upfront/Near-term Payments (Total)	Potential Milestone Payments (Total)	Royalty Structure
Ex Vivo CAR T (Imugene for azer-cel)	Up to $47 million	Over $900 million	High-Single-Digit to Low-Double-Digit on Net Sales

The company also has active collaborations with partners like Novartis for hemoglobinopathies and iECURE for the OTC deficiency program (ECUR-506), plus an option agreement with Acuitas Therapeutic Inc. for LNP delivery technology. Precision BioSciences, Inc. is expecting an $8 million milestone payment from Imugene in the fourth quarter of 2025 due to progress with azer-cel.

For the segment focused on patients with high unmet medical needs, Precision BioSciences, Inc. targets specific diseases with their wholly-owned pipeline assets:

• Patients with chronic Hepatitis B (HBV) receiving PBGENE-HBV, currently in the Phase 1 ELIMINATE-B Trial, with Cohort 3 dosing commenced in the third quarter of 2025.
• Patients with Duchenne Muscular Dystrophy (DMD) targeted by PBGENE-DMD. The estimated US patient population is approximately 15,000 patients.

The company is prioritizing these two programs, with an expected cash runway extending into the second half of 2027 to fund their achievement.

Clinical investigators and academic research institutions form a necessary segment for clinical validation and data dissemination. This interaction is evidenced by:

• Late-breaking oral presentation of PBGENE-HBV data at AASLD The Liver Meeting® 2025 on November 10, 2025.
• Presentation of PBGENE-DMD preclinical data at the 30th Annual International Congress of the World Muscle Society in October 2025.

While the focus is heavily therapeutic, the platform itself serves strategic partners for technology utilization. The ARCUS HDR Gene Insertion and Gene Excision capabilities have been validated by Big Pharma and Biotech Partners, which is a form of customer segment that pays for platform access and co-development rights, as seen in the Novartis agreement.

Precision BioSciences, Inc. (DTIL) - Canvas Business Model: Cost Structure

You're looking at the cost structure for Precision BioSciences, Inc. as of late 2025. For a clinical-stage gene editing company, the costs are heavily weighted toward the science and getting those therapies into patients. Honestly, the numbers reflect a high-burn, high-potential environment.

The primary drivers of operating expense in the third quarter of 2025 centered on advancing the ARCUS platform pipeline, particularly the wholly-owned programs like PBGENE-HBV and PBGENE-DMD. The company noted implementing operating efficiencies in July 2025 to reduce annual operating expenses and extend its cash runway, which was expected to reach into the second half of 2027.

Here is a breakdown of the key reported costs for the quarter ended September 30, 2025:

Cost Category	Q3 2025 Amount (USD)	Context/Driver
Research and Development (R&D) Expenses	$13.4 million	Driven primarily by the advancement of the PBGENE-DMD program.
General and Administrative (G&A) Costs	$7.3 million	Decreased from $8.8 million in Q3 2024, primarily due to reduced employee-related costs.
Net Loss	$21.8 million	The total operating cost less revenue for the period.
Cash, Cash Equivalents, and Restricted Cash	$71.2 million	Balance as of September 30, 2025, before a received milestone payment.

The R&D spend is where the bulk of the investment in future value creation sits. While the specific line items aren't broken out in the top-line report, you can infer where that $13.4 million is going based on their stated activities.

• High Research and Development (R&D) expenses, which were $13.4 million in Q3 2025.
• General and Administrative (G&A) costs, totaling $7.3 million in Q3 2025.
• Costs associated with manufacturing clinical-grade gene editing therapies, which are embedded within R&D as the PBGENE-HBV program is in a Phase 1 dose escalation study.
• Intellectual property maintenance and litigation expenses, which are typically captured within G&A or R&D overhead.
• Clinical trial execution and regulatory submission costs, as the company was focused on dose escalation for PBGENE-HBV and targeting an Investigational New Drug (IND) filing for PBGENE-DMD by the end of 2025.

To be fair, the costs related to clinical execution and manufacturing for a gene editing therapy are significant, even if they are not explicitly itemized outside of the main buckets. For instance, the progress on PBGENE-DMD, targeting an IND filing by the end of 2025, necessitates substantial spending on process development and cGMP (current Good Manufacturing Practice) material production, which falls under R&D. Also, the company received an $8 million milestone payment in October 2025 from Imugene, which helps offset these ongoing costs.

The cost structure is clearly weighted toward the development pipeline, as shown by the R&D spend being nearly double the G&A spend for the quarter. Finance: draft 13-week cash view by Friday.

Precision BioSciences, Inc. (DTIL) - Canvas Business Model: Revenue Streams

You're looking at the revenue side of Precision BioSciences, Inc. (DTIL) as of late 2025, and honestly, it's heavily weighted toward non-recurring events like milestones and upfront payments right now, which is typical for a clinical-stage platform company. The core revenue streams are built around monetizing the proprietary ARCUS® genome editing platform through external partnerships.

Collaboration and licensing revenue forms the backbone, encompassing both upfront fees and those crucial milestone payments tied to partner progress. For instance, revenue recognized under the Novartis Agreement saw a decrease as Precision neared completion of its pre-clinical workplan, showing how these streams fluctuate based on the stage of collaboration work.

You definitely saw a significant cash event recently. Precision BioSciences received an $8 million milestone payment in cash and stock from Imugene on October 31, 2025. This payment was tied to the successful completion of phase 1b dosing in the CAR T relapsed LBCL patient population for azer-cel.

Looking at the top line for the period ending September 30, 2025, the Trailing Twelve Months (TTM) revenue was reported at $698.00 thousand. To give you some context on the recent quarter, the reported revenue for the third quarter ended September 30, 2025, was approximately $10,000, which was a stark drop from the $0.6 million reported in the same quarter last year, largely due to that lower billable effort under the Novartis collaboration.

The long-term upside is definitely in potential future royalties from commercialized partnered products. Precision is eligible for double-digit royalties on net sales for the azer-cel program with Imugene. Also, the non-exclusive license granted to Caribou Biosciences entitles Precision to royalties on net sales of licensed products, plus tiered milestone payments for certain strategic transactions involving Caribou.

Upfront payments from new strategic alliances or technology licenses provide immediate capital to fund operations. You can see this in the strategic transaction with Imugene, which provided upfront economics valued at $21 million, consisting of cash and equity. Similarly, the license agreement with Caribou Biosciences included an upfront payment.

Here's a quick look at the economics tied to some of those key deals:

Revenue Source/Event	Type of Payment	Value/Terms	Partner
Azer-cel Milestone	Milestone Payment (Received Q4 2025)	$8 million (cash and stock)	Imugene
Azer-cel Potential	Additional Milestones	Up to $198 million	Imugene
Imugene Additional Programs	Milestone Payments	Up to $145 million per program	Imugene
Azer-cel Commercialization	Royalties	Double-digit royalties on net sales	Imugene
Caribou License	Upfront Payment	Undisclosed (plus royalties)	Caribou Biosciences
Imugene Strategic Transaction	Upfront Economics	Valued at $21 million (cash and equity)	Imugene

The revenue recognition model is clearly dependent on hitting specific targets across its portfolio. The key components that drive these non-recurring revenue events include:

• Milestone payments from the Novartis collaboration for hemoglobinopathies.
• Upfront fees and potential royalties from the Caribou Biosciences license.
• Equity stake and milestone/royalty payments from the iECURE agreement.
• The expected tiered milestone payments for each additional research program selected by Imugene.

Finance: draft 13-week cash view by Friday.