Precision BioSciences Reports Profit From Cont. Ops. In Q1

(RTTNews) - Precision BioSciences (DTIL) posted first quarter net income from continuing operations of $8.6 million, inclusive of a $10.4 million non-cash gain on the fair value of warrant liability which does not impact cash runway, compared to a net loss from continuing operations of $14.0 million, a year ago. The company said the improvement was primarily related to the revenue growth compared to the prior period as well as the non-cash gain related to the fair value adjustments of warrant liability and Elo equity investment. Net profit per share was $1.70 compared to a loss of $6.75.

Total revenues were $17.6 million, compared to $8.8 million for the same period in 2023. The company said the increase was primarily driven by upfront investments from cell therapy transactions with TG Therapeutics and Caribou Biosciences.

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