Key Takeaway: Precision BioSciences has completed a strategic transaction with Imugene regarding Azer-Cel, which is aimed at treating LBCL patients. Under the agreement, Precision is eligible to receive up to $227 million in upfront payments and milestones, alongside double-digit royalties on sales. Imugene will manage Precision's cell therapy infrastructure as they work towards a Biologics License Application.
Price reaction · baseline $15.912 (2023-08-15 close) · hit after-hours · clean, no other DTIL news in the window
day 0 close
-1%
day 1
-13.3%
day 3 · peak
-15.2%
Market Sentiment Analysis
POSITIVE FACTORS
Precision BioSciences stands to gain up to $227 million.
Imugene will take over the cell therapy infrastructure.
The transaction supports the pursuit of a Biologics License Application.
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
– Precision Eligible to Receive up to $227 Million in Upfront Economics and Milestone Payments for Azer-Cel in Addition to Double-Digit Royalties on Sales – Imugene to Assume Control of Precision’s Cell Therapy Infrastructure in Pursuit of Biologics License Application for Azer-Cel in LBCL Patients
Frequently Asked Questions
What is the strategic transaction about?
Precision BioSciences completed a transaction with Imugene for Azer-Cel.
How much can Precision BioSciences earn from this deal?
Precision is eligible for up to $227 million in upfront payments and milestones.
What will Imugene do in this transaction?
Imugene will assume control of Precision's cell therapy infrastructure.