Here are 1-3 brief analogies to describe Precision BioSciences (DTIL):

• Like a **CRISPR Therapeutics**, but using its unique ARCUS gene-editing platform.
• The 'off-the-shelf' **Kite Pharma** (now Gilead), developing universal CAR T cancer therapies.

• ARCUS: A genome editing platform designed to cure genetic disorders.
• PBCAR0191: An allogeneic CAR T immunotherapy in clinical trials for R/R NHL or R/R B-cell precursor acute lymphoblastic leukemia (B-ALL).
• PBCAR19B: An anti-CD19 CAR T candidate utilizing a stealth cell platform to minimize the risk of chromosome abnormalities.
• PBCAR269A: An investigational allogeneic CAR T immunotherapy targeting BCMA for the treatment of R/R multiple myeloma.

Precision BioSciences (DTIL) is a clinical-stage gene editing company. Its therapies are currently in development and clinical trials, meaning it does not directly sell commercial products to individuals (patients) at this time. Instead, it generates revenue primarily through development and commercial license agreements with other companies.

Based on the provided information, its major customers/partners are:

• Servier (private company)
• Tiziana Life Sciences (NASDAQ: TLSA)
• iECURE, Inc. (private company)

Tiziana Life Sciences (TLSA)

Michael Amoroso, President, Chief Executive Officer

Michael Amoroso was appointed President and Chief Executive Officer of Precision BioSciences in October 2021. He is a seasoned biotech CEO with significant operational experience in leading organizations focused on cell and gene therapies, particularly in oncology. Prior to joining Precision BioSciences, he served as President and Chief Executive Officer of Abeona Therapeutics, Inc., a gene and cell therapy company. Before that, he was the Senior Vice President and Chief Commercial Officer at Kite Pharma, Inc., where he was responsible for the global commercialization of the CAR T-cell therapy, YESCARTA®. His career also includes various senior-level executive positions at leading biopharmaceutical companies such as Eisai Inc., Celgene Corporation (now a subsidiary of Bristol-Myers Squibb Company), and Aventis (now Sanofi S.A.). Mr. Amoroso earned an Executive M.B.A. in Management from the Stern School of Business, New York University, and a B.A. in Biological Sciences, summa cum laude, from Rider University.

Alex Kelly, Chief Financial Officer

Alex Kelly has served as Chief Financial Officer of Precision BioSciences since May 2021, after joining the company in October 2020 as Chief Corporate Affairs Officer and serving as Interim CFO from December 2020. Before his tenure at Precision BioSciences, Mr. Kelly was Executive Vice President, Corporate Affairs and Chief Communications Officer at Allergan, where he also served as President of The Allergan Foundation. He played a key role in developing company messaging and supported major transformations, including Allergan's merger with AbbVie. Previously, he was Senior Vice President, Chief Integration Officer for Actavis, where he led integration efforts for the acquisitions of Forest Laboratories and Allergan. He also held the position of Senior Vice President, Chief Communications Officer, Public Affairs and Investor Relations at Forest Laboratories, building a consolidated corporate communications and investor relations team and overseeing integration efforts during Forest Labs' acquisition of Aptalis Pharma. Mr. Kelly has held additional senior communications and investor relations roles at companies including Bausch + Lomb, Merck, Schering-Plough, Novartis, Pharmacia, and Pharmacia & Upjohn. He holds a Bachelor of Science in Pharmacy from Purdue University.

Cindy Atwell, Chief Development and Business Officer

Cindy Atwell was appointed Chief Development and Business Officer in January 2025, with responsibilities encompassing all development functions, including clinical, translational, regulatory, program leadership, and business development and alliance oversight. She joined Precision BioSciences in 2019 as Vice President of Business Development and was promoted to Chief Business Officer in 2022. Ms. Atwell brings over two decades of multi-disciplinary experience in the biopharma industry, including business development and clinical research roles at companies such as Halozyme, AbbVie, and Amylin. She has been instrumental in securing multiple partnerships and business development deals for Precision. She holds an MBA from the University of California, San Diego, and a Bachelor of Science in biochemistry and molecular biology from the Pennsylvania State University.

Jeff Smith, Ph.D., Chief Research Officer

Jeff Smith, Ph.D., is a co-founder of Precision BioSciences. He was formerly the Chief Technology Officer and was promoted to Chief Research Officer in September 2022, taking responsibility for the management and direction of the company's research programs. Dr. Smith, along with co-founder Derek Jantz, built Precision BioSciences from its inception and was involved in optimizing the ARCUS gene editing platform for therapeutic use.

Cassie Gorsuch, Ph.D., Chief Scientific Officer

Cassie Gorsuch, Ph.D., was promoted to Chief Scientific Officer in January 2025, overseeing non-clinical development and gene therapy discovery. In this role, she is responsible for preclinical proof of concept and IND-enabling data to support the advancement of programs into clinical studies. Prior to her promotion, Dr. Gorsuch served as Precision's Vice President of Gene Therapy Discovery. She has been a key figure in advancing the PBGENE-HBV program through preclinical studies and into clinical trials.

Clinical Trial Failure and Regulatory Approval

As a clinical-stage gene editing company, Precision BioSciences's success is critically dependent on the successful development and regulatory approval of its investigational gene editing and allogeneic CAR T therapies. All of its product candidates, including PBCAR0191, PBCAR19B, and PBCAR269A, are in early-stage clinical trials (e.g., Phase 1/2a). Clinical trials are inherently risky, expensive, and time-consuming, with a high rate of failure, especially in early phases. Achieving regulatory approval requires demonstrating both efficacy and a clean safety profile, free from toxicities, unwanted immune responses, or off-target effects. Adverse results from clinical trials or difficulties in obtaining regulatory approvals would significantly harm the company's business and prospects. Regulatory challenges are a sector-specific risk for biotechnology development.

Technological Challenges and Platform-Specific Risks

Precision BioSciences relies on its ARCUS genome editing platform and ex vivo allogeneic CAR T immunotherapy approach, which are complex and relatively novel technologies. These technologies present inherent risks, including the potential for off-target editing effects by the ARCUS platform, unintended changes to the genome, or large rearrangements of DNA. For allogeneic CAR T therapies, specific challenges include the risk of graft versus host disease (GVHD), rejection of the CAR T product by the recipient's immune system leading to poor persistence and decreased efficacy, and manufacturing hurdles. Such fundamental issues with the underlying technology or platform could impact the entire pipeline of drug candidates and limit the ability to demonstrate an incredibly clean safety profile required for approval.

Financial Viability

Precision BioSciences faces significant financial risks, characterized by a history of losses and indicators of weak financial strength. The company has a poor financial strength grade, a significantly negative operating margin, and a high debt-to-equity ratio. Its Altman Z-Score places it in the distress zone, implying a potential risk of bankruptcy within the next two years. The company has combined a trailing twelve-month loss of US$46.6 million with expectations for ongoing earnings declines, making profitability a key concern. There is also a chronic threat of dilution if the company needs to raise capital through secondary offerings due to its high anticipated future cash burn and speculative growth status.

The successful clinical development and potential regulatory approval of competing allogeneic CAR T cell therapies by other pharmaceutical or biotechnology companies that demonstrate superior efficacy, safety, or manufacturing advantages for the treatment of hematological cancers such as non-Hodgkin lymphoma, B-cell acute lymphoblastic leukemia, or multiple myeloma.

Precision BioSciences (DTIL) anticipates several key drivers for future revenue growth over the next two to three years, primarily stemming from the advancement of its proprietary ARCUS genome editing platform and strategic collaborations.

Here are the expected drivers of future revenue growth:

1. Clinical Development and Potential Commercialization of Wholly-Owned *in vivo* Gene Editing Programs: The progression of Precision BioSciences' lead wholly-owned *in vivo* gene editing programs is a significant expected revenue driver. Specifically, the company has initiated a Phase 1 clinical trial for PBGENE-HBV, targeting chronic Hepatitis B, with data expected throughout 2025 and 2026. Additionally, PBGENE-PMM for Primary Mitochondrial Myopathy (m.3243 mitochondrial disease) is on track for Investigational New Drug (IND) or Clinical Trial Application (CTA) submission in 2025, with Phase 1 data anticipated in 2025 and 2026. Furthermore, PBGENE-DMD for Duchenne Muscular Dystrophy received FDA Fast Track designation and IND clearance for a Phase 1/2 clinical trial in early March 2026, with initial clinical data expected by year-end 2026. Successful clinical milestones and eventual commercialization or out-licensing of these programs are crucial for future revenue.
2. New and Existing Collaboration and Licensing Agreements: Precision BioSciences has a history of generating revenue through strategic partnerships and licensing agreements related to its ARCUS platform. Recent examples include monetization of CAR T assets through deals with TG Therapeutics, Caribou Biosciences, and Imugene, which have provided upfront and potential near-term payments. The completion of collaborations, such as with Novartis, has also resulted in significant revenue recognition. Continued execution of such agreements, including milestone payments and potential royalties from existing or new collaborations for various gene editing applications, is expected to contribute to revenue growth. The collaboration with iECURE for Ornithine Transcarbamylase (OTC) Deficiency is another partnered program advancing clinically.
3. Expansion of the ARCUS Platform into New Therapeutic Areas and Indications: The versatility and unique characteristics of the ARCUS genome editing platform enable the development of novel *in vivo* gene editing therapies for a broad spectrum of genetic and infectious diseases. The company's ability to apply ARCUS to new disease targets, either through wholly-owned development or new partnerships, represents an ongoing driver for future revenue growth as it expands its market reach and potential product pipeline.

Share Issuance

• In January 2021, Eli Lilly made a $35 million equity investment in Precision BioSciences as part of a collaboration agreement.
• As part of a strategic transaction with TG Therapeutics in January 2024, Precision BioSciences received an upfront payment that included the purchase of 2,920,816 shares of Precision common stock.
• In November 2025, Precision BioSciences agreed to sell 10,815,000 shares of its common stock and accompanying warrants, along with pre-funded warrants to purchase up to 1,400,000 shares, through an underwritten offering to fund research and development, working capital, and general corporate purposes.

Inbound Investments

• Precision BioSciences received a $100 million upfront cash payment from Eli Lilly in January 2021, in addition to a $35 million equity investment, as part of a genome editing research collaboration.
• In January 2024, Precision BioSciences secured upfront and potential near-term economics valued at $17.5 million from TG Therapeutics for an exclusive license, which included a cash payment and an equity investment.
• On October 31, 2025, Precision BioSciences received an $8 million milestone payment in cash and stock from Imugene.

Capital Expenditures

• In the last 12 months (prior to March 2026), capital expenditures for Precision BioSciences were reported as -$163,000.
• Capital expenditures in the most recent quarter (prior to March 2026) totaled $0.0000 million USD.