Published on 7 Nov 2023 on GuruFocus.com via Yahoo Finance
Precision BioSciences Inc (DTIL) Reports Q3 2023 Financial Results
Revenues for Q3 2023 were $13.1 million, a significant increase from $7.4 million in Q3 2022.Net loss for the quarter was $8.1 million, or $(0.07) per share, including $4.0 million income from discontinued operations.The company completed a strategic transaction with Imugene for azer-cel in cancer, receiving upfront cash and equity consideration valued at $21 million.Precision BioSciences Inc (NASDAQ:DTIL) expects its existing cash and cash equivalents to fund its operating expenses and capital expenditure requirements through the end of 2025.
Warning! GuruFocus has detected 6 Warning Signs with DTIL.
On November 7, 2023, Precision BioSciences Inc (NASDAQ:DTIL), an advanced gene editing company, announced its financial results for the third quarter ended September 30, 2023. The company reported a significant increase in its revenues, which rose to $13.1 million, up from $7.4 million in the same period in 2022. The increase in revenue was primarily due to an increase of $4.0 million in revenue recognized under the Novartis Agreement and an increase of $1.7 million in revenue recognized under the Prevail Agreement.