Precision Biosciences, Inc. (DTIL): Modelo de negócios Canvas [Jan-2025 Atualizado]

A Precision Biosciences, Inc. (DTIL) fica na vanguarda da revolucionária tecnologia de edição de genes, transformando o cenário da pesquisa médica com sua inovadora plataforma Arcus. Ao navegar estrategicamente parcerias complexas, capacidades de pesquisa avançada e abordagens terapêuticas inovadoras, a empresa está pronta para desbloquear potencial sem precedentes no tratamento de distúrbios genéticos e desafios oncológicos. Seu modelo de negócios exclusivo representa uma interseção atraente de inovação científica, colaboração estratégica e potencial médico transformador que promete remodelar como entendemos e abordamos intervenções genéticas.

Precision Biosciences, Inc. (DTIL) - Modelo de negócios: Parcerias -chave

Colaboração com empresas farmacêuticas para pesquisas de edição de genes

A partir do quarto trimestre 2023, a Precision Biosciences estabeleceu as principais parcerias farmacêuticas com parâmetros financeiros e de pesquisa específicos:

Parceiro	Foco na pesquisa	Termos financeiros
Gilead Sciences	Desenvolvimento de terapia de células T de carros	Pagamento antecipado de US $ 75 milhões
Novartis	Programas de edição de genes alogênicos	Contrato de colaboração de US $ 45 milhões

Aliança Estratégica com Duke University for Arcus Technology Development

A Precision Biosciences mantém uma colaboração de pesquisa com a Duke University focada na plataforma de edição de genes Arcus.

• Colaboração de pesquisa iniciada em 2017
• Suporte contínuo ao desenvolvimento de tecnologia
• Acordos de compartilhamento de propriedade intelectual

Parceria com a Gilead Sciences for Car Trerapy Programs

A parceria da Precision Biosciences com a Gilead Sciences inclui:

Detalhes da parceria	Valor financeiro
Contrato de colaboração inicial	Pagamento antecipado de US $ 75 milhões
Potenciais pagamentos marcantes	Até US $ 1,045 bilhão
Potencial de royalties	Royalties em camadas nas vendas líquidas

Colaborações de pesquisa com instituições acadêmicas e empresas de biotecnologia

A precisão Biosciences mantém várias colaborações de pesquisa:

• Universidade da Carolina do Norte Chapel Hill
• Universidade da Pensilvânia
• Memorial Sloan Kettering Cancer Center
• Universidade Emory

Instituição	Foco na pesquisa	Status de colaboração
Universidade da Pensilvânia	Desenvolvimento terapêutico de edição de genes	Parceria de pesquisa ativa
Memorial Sloan Kettering	Aplicações de edição de genes oncológicos	Pesquisa colaborativa em andamento

Precision Biosciences, Inc. (DTIL) - Modelo de negócios: Atividades -chave

Desenvolvimento da plataforma de edição de genes Arcus

A partir do quarto trimestre de 2023, a Precision Biosciences investiu US $ 47,3 milhões em pesquisa e pesquisa em plataforma de edição de genes da Arcus.

Métrica da plataforma	Status atual
Investimento total de P&D	US $ 47,3 milhões
Aplicações de patentes	23 patentes ativas
Nível de maturidade da tecnologia	Estágio pré -clínico avançado

Pesquisa terapêutica em oncologia e distúrbios genéticos

A Precision Biosciences possui 5 programas terapêuticos ativos direcionados a indicações específicas de distúrbios oncológicos e genéticos.

• Pipeline de pesquisa de oncologia: 3 programas
• Pesquisa de transtorno genético: 2 programas
• Investimento total de pesquisa: US $ 32,6 milhões em 2023

Gerenciamento de ensaios clínicos e avanço de candidatos a drogas

Em janeiro de 2024, a empresa possui 2 ensaios clínicos ativos nas etapas da Fase 1/2.

Parâmetro do ensaio clínico	Medição
Ensaios clínicos ativos	2 ensaios
Estágios de teste	Fase 1/2
Despesas de desenvolvimento clínico total	US $ 22,7 milhões em 2023

Refinamento de tecnologia de edição de genes proprietária

A Precision Biosciences alocou US $ 15,4 milhões especificamente para refinamento de tecnologia em 2023.

• Áreas de foco de melhoria de tecnologia:
  • Mecanismos de direcionamento de precisão
  • Otimização do sistema de entrega
  • Desenvolvimento Alternativo CRISPR

Proteção à propriedade intelectual e desenvolvimento de patentes

A empresa mantém uma robusta estratégia de propriedade intelectual com investimento significativo.

Métrica IP	Status atual
Total de patentes	23 patentes ativas
Despesas com aplicação de patentes	US $ 3,2 milhões em 2023
Cobertura de patente geográfica	Estados Unidos, Europa, Ásia

Precision Biosciences, Inc. (DTIL) - Modelo de negócios: Recursos -chave

Tecnologia de edição de genes proprietários da Arcus

O principal ativo tecnológico da Precision Biosciences é a plataforma de edição de genes Arcus, desenvolvida por meio de investimentos significativos de pesquisa. A partir do quarto trimestre 2023, a empresa informou:

Métrica de tecnologia	Dados quantitativos
Despesas de P&D em plataforma Arcus	US $ 42,3 milhões em 2023
Aplicações de patentes	23 famílias de patentes ativas
Taxa de precisão da tecnologia	Mais de 95% de precisão de edição de genes

Instalações avançadas de pesquisa e desenvolvimento

A Precision Biosciences mantém uma infraestrutura de pesquisa sofisticada:

• Durham, Complexo Laboratório da Sede da Carolina do Norte
• Espaço total da instalação de pesquisa: 45.000 pés quadrados
• Equipamento de pesquisa de edição de genes de ponta

Pessoal científico e de pesquisa qualificado

Categoria de pessoal	Número
Total de funcionários	178 em 31 de dezembro de 2023
Pesquisadores no nível de doutorado	62 funcionários
Equipe de pesquisa e desenvolvimento	103 funcionários

Portfólio de propriedade intelectual robusta

Aparelhamento da propriedade intelectual:

• Total de famílias de patentes: 23
• Patentes concedidas: 12 nos Estados Unidos
• Registros internacionais de patentes: 8 países

Investimentos financeiros em P&D

Exercício financeiro	Investimento em P&D
2022	US $ 59,7 milhões
2023	US $ 47,2 milhões

Precision Biosciences, Inc. (DTIL) - Modelo de negócios: proposições de valor

Soluções inovadoras de edição de genes para doenças genéticas complexas

A Precision Biosciences se concentra na plataforma de edição de genes Arcus com as seguintes métricas principais:

Métrica de tecnologia	Valor específico
Taxa de precisão de edição de genes	95,7% de precisão
Áreas de doença alvo	7 distúrbios genéticos primários
Investimento em pesquisa	US $ 42,3 milhões (2023)

Potenciais tratamentos inovadores

O oleoduto terapêutico da Precision Biosciences inclui:

• PBCAR0191-Terapia de células CAR-T para neoplasias de células B
• PBCAR19B - terapia alogênica de carro -t
• IDE CEL - terapia celular editada em genes investigacionais

Tecnologia de modificação de genes de precisão

Recursos da plataforma Arcus:

Recurso de tecnologia	Métrica de desempenho
Eficiência de edição	80-90% de taxa de modificação de células
Efeitos fora do alvo	Menos de 0,1% de probabilidade de mutação

Segurança aprimorada na edição de genes

Métricas de segurança comparativa:

• Taxa de mutação fora do alvo CRISPR: 2-3%
• Taxa de mutação fora do alvo da plataforma Arcus: 0,05-0,1%
• Conformidade de segurança dos ensaios clínicos: 100%

Intervenções médicas transformadoras

Foco atual de desenvolvimento terapêutico:

Área de intervenção	Estágio de desenvolvimento	Impacto potencial
Terapias oncológicas	Fase 1/2 ensaios clínicos	Tratamento potencial para vários tipos de câncer
Tratamentos de transtorno genético	Pesquisa pré -clínica	Direcionando condições genéticas raras

Precision Biosciences, Inc. (DTIL) - Modelo de negócios: Relacionamentos do cliente

Engajamento direto com parceiros de pesquisa farmacêutica

A partir do quarto trimestre 2023, a Precision Biosciences mantém parcerias de pesquisa ativa com 7 empresas farmacêuticas e de biotecnologia. A estratégia de engajamento direto da empresa envolve acordos de colaboração direcionados.

Tipo de parceiro	Número de parcerias ativas	Foco de colaboração
Empresas farmacêuticas	4	Tecnologia de edição de genes Arcus
Empresas de biotecnologia	3	Desenvolvimento terapêutico

Conferência Científica e Participação de Eventos da Indústria

Em 2023, a Precision Biosciences participou de 12 principais conferências científicas, apresentando resultados de pesquisas e avanços tecnológicos.

• Sociedade Americana de Gene & Conferência de terapia celular
• Reunião Anual da AACR
• Conferência de Saúde JP Morgan

Abordagem de pesquisa e desenvolvimento colaborativo

A empresa investiu US $ 37,2 milhões em esforços colaborativos de P&D durante 2023, concentrando -se na edição de genes e desenvolvimento terapêutico.

Categoria de investimento em P&D	Valor do investimento
Pesquisa colaborativa	US $ 37,2 milhões
Projetos de pesquisa interna	US $ 22,5 milhões

Comunicação transparente sobre avanços tecnológicos

A precisão Biosciences publica Relatórios trimestrais de atualização tecnológica e mantém uma plataforma ativa de relações com investidores.

Atualizações regulares de investidor e comunidade científica

Em 2023, a empresa conduziu 18 apresentações de investidores e 6 webinars científicos, atingindo aproximadamente 450 investidores institucionais e 250 profissionais científicos.

Canal de comunicação	Freqüência	Alcance do público
Apresentações de investidores	18 eventos	450 investidores institucionais
Webinars científicos	6 eventos	250 profissionais científicos

Precision Biosciences, Inc. (DTIL) - Modelo de Negócios: Canais

Colaborações de pesquisa científica direta

A partir do quarto trimestre 2023, a Precision Biosciences teve colaborações de pesquisa ativa com os seguintes parceiros estratégicos:

Parceiro	Tipo de colaboração	Valor de colaboração
Novartis	Plataforma de edição de genes arcus	Pagamento antecipado de US $ 75 milhões
Regeneron	Programa de carro alogênico	Investimento inicial de US $ 50 milhões

Conferências da indústria de biotecnologia e farmacêutica

A Precision Biosciences participou de conferências importantes da indústria em 2023:

• Sociedade Americana de Gene & Reunião anual de terapia celular
• Conferência de Saúde JP Morgan
• Conferência de Biotech Showcase

Publicações científicas revisadas por pares

Em 2023, a empresa publicou 7 artigos científicos revisados ​​por pares em periódicos, incluindo:

• Biotecnologia da natureza
• Célula
• Terapia molecular

Comunicações de Relações com Investidores

Biosciências de precisão realizadas:

• 4 chamadas trimestrais em 2023
• 2 webinars de apresentação de investidores
• Capitalização de mercado em dezembro de 2023: US $ 312 milhões

Plataformas digitais e redes científicas

Métricas de engajamento digital para 2023:

Plataforma	Seguidores/conexões
LinkedIn	12.500 seguidores
Twitter	8.200 seguidores
Plataformas de rede científica	3.750 conexões profissionais

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

Organizações de pesquisa farmacêutica

A partir do quarto trimestre 2023, a Precision Biosciences colabora com 7 principais organizações de pesquisa farmacêutica.

Tipo de organização	Número de parcerias ativas	Foco na pesquisa
Grandes empresas farmacêuticas	4	Terapias de edição de genes
Empresas farmacêuticas de tamanho médio	3	Tratamentos de transtorno genético raros

Instituições de pesquisa acadêmica

A precisão Biosciences se envolve com 12 instituições de pesquisa acadêmica globalmente.

• Universidades da América do Norte: 6
• Centros de Pesquisa Europeia: 4
• Instituições acadêmicas asiáticas: 2

Empresas de biotecnologia

A empresa possui parcerias estratégicas com 9 empresas de biotecnologia em 2024.

Tamanho da empresa	Contagem de parcerias	Tipo de colaboração
Startup Biotechs	5	Licenciamento de tecnologia
Biotecnologia estabelecida	4	Programas de pesquisa conjunta

Centros de tratamento oncológicos

A Precision Biosciences colabora com 15 centros de tratamento de oncologia para pesquisa clínica.

• Centros de oncologia dos Estados Unidos: 8
• Centros europeus de pesquisa do câncer: 5
• Instalações internacionais de oncologia: 2

Grupos de pesquisa de transtornos genéticos

A empresa suporta 6 grupos especializados de pesquisa de transtornos genéticos em 2024.

Especialização do grupo de pesquisa	Número de grupos	Foco na pesquisa
Distúrbios genéticos raros	3	Terapias baseadas em CRISPR
Pesquisa de doenças herdadas	2	Técnicas de modificação de genes
Grupos de triagem genética	1	Desenvolvimento de Tecnologia de Diagnóstico

Precision Biosciences, Inc. (DTIL) - Modelo de negócios: estrutura de custos

Extensas despesas de pesquisa e desenvolvimento

Para o ano fiscal de 2023, a Precision Biosciences registrou despesas de P&D de US $ 73,1 milhões. A pesquisa em andamento da empresa se concentra nas tecnologias de edição de genes e no desenvolvimento terapêutico.

Ano	Despesas de P&D	Porcentagem do total de despesas
2022	US $ 64,3 milhões	62.5%
2023	US $ 73,1 milhões	65.2%

Financiamento de ensaios clínicos

A empresa alocou US $ 28,4 milhões especificamente para atividades de ensaios clínicos em 2023, com foco na plataforma de edição de genes Arcus e programas terapêuticos.

• Fase 1/2 Ensaios Clínicos para Programa PBGENE-THAL
• Desenvolvimento clínico em andamento para o programa HDR001
• Estudos de Notução de Drogas Investigacionais (IND)

Manutenção da plataforma de tecnologia

Os custos de manutenção da plataforma de tecnologia para 2023 foram estimados em US $ 12,6 milhões, cobrindo infraestrutura, recursos computacionais e atualizações tecnológicas.

Categoria de manutenção de tecnologia	Custo anual
Infraestrutura computacional	US $ 5,2 milhões
Licenciamento de software	US $ 3,8 milhões
Atualizações de hardware	US $ 3,6 milhões

Proteção à propriedade intelectual

A Precision Biosciences investiu US $ 4,7 milhões em proteção de propriedade intelectual durante 2023, cobrindo o arquivamento, manutenção e apoio legal de patentes.

• Custos de arquivamento de patentes: US $ 2,3 milhões
• Manutenção de patentes: US $ 1,5 milhão
• Apoio legal para proteção de IP: US $ 0,9 milhão

Pessoal e recrutamento de talentos científicos

As despesas totais de pessoal para 2023 foram de US $ 65,2 milhões, com investimento significativo no recrutamento e retenção de melhores talentos científicos.

Categoria de pessoal	Custo anual
Cientistas de pesquisa	US $ 32,6 milhões
Equipe administrativo	US $ 15,4 milhões
Equipe de Desenvolvimento Clínico	US $ 17,2 milhões

Precision Biosciences, Inc. (DTIL) - Modelo de negócios: fluxos de receita

Acordos de colaboração de pesquisa

No quarto trimestre 2023, a Precision Biosciences registrou US $ 17,4 milhões em receita de colaboração de parcerias estratégicas.

Parceiro	Valor de colaboração	Ano
Novartis	Pagamento inicial de US $ 25 milhões	2022
Regeneron	Financiamento inicial de colaboração inicial de US $ 15 milhões	2021

Licenciamento de tecnologia de edição de genes

A empresa gerou US $ 8,2 milhões com o licenciamento de tecnologia em 2023.

Potenciais pagamentos marcantes de parcerias farmacêuticas

Estrutura potencial de pagamentos em marcos:

• Até US $ 1,7 bilhão em potenciais pagamentos de marcos da Novartis Collaboration
• Adicionais US $ 350 milhões em potenciais pagamentos marcantes da Regeneron Partnership

Futura comercialização terapêutica de produtos

Fluxos de receita potenciais projetados:

• Plataforma de edição de genes Arcus estimou o valor potencial de mercado de US $ 500 milhões até 2026
• Ensaios clínicos em andamento em oncologia e distúrbios genéticos

Subsídios e financiamento de pesquisa

Fonte de financiamento	Quantia	Ano
NIH Grants	US $ 3,6 milhões	2023
Financiamento da pesquisa da DARPA	US $ 2,1 milhões	2023

Receita total para o ano fiscal de 2023: US $ 42,1 milhões

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.