Key Takeaway: Precision BioSciences has successfully received $13 million from the maturity of a convertible note with Imugene. This payment consists of $9.75 million in cash and $3.25 million in ordinary shares. The additional funds are expected to enhance Precision's cash runway, extending it into the latter half of 2026.
Price reaction · baseline $10.88 (2024-08-30 close) · hit pre-market · 1 other DTIL headline(s) in the window, move may be shared
day 0 close · peak
-4.4%
Market Sentiment Analysis
POSITIVE FACTORS
Precision BioSciences received $13 million from Imugene.
The cash reinforces Precision's financial stability.
Expected cash runway extended into the second half of 2026.
BiopharmaWatch Analysis
From our catalyst data and publicly available data · not financial advice
Best trade, last catalyst
+24%
120-day peak, hindsight
Typical move
4.8%
average across 2 past catalysts
Cash runway
~19 mo
Low dilution risk
Lead asset
Targeted CEA CAR-T
Phase 1 · Advanced Lung Cancer
Full Press Release Details
— Payment includes $9.75 million cash and $3.25 million in Imugene Limited ordinary shares– –The addition of this cash further reinforces Precision’s expected cash runway into the second half of 2026– DURHAM, N.C. –(BUSINESS WIRE)–Sep. 3, 2024– Precision BioSciences, Inc.
Frequently Asked Questions
What amount did Precision BioSciences receive from Imugene?
Precision BioSciences received $13 million from Imugene.
What does the $13 million payment consist of?
The payment includes $9.75 million in cash and $3.25 million in shares.
How will the funding affect Precision's cash runway?
The funding extends Precision's cash runway into the second half of 2026.