Quarterly Results Takes Precision BioSciences Higher

(RTTNews) - Shares of Precision BioSciences, Inc. (DTIL) were rising more than 11 percent in pre-market on Monday after reporting better-than-expected first-quarter results.

The company reported net income of $8.59 million or $1.70 per share for the first quarter compared with net loss of $25.06 million or $6.75 per share in the same quarter a year ago.

Revenues for the quarter grew to $17.6 million from $8.8 million in the previous year.

On average, 6 analysts polled by Thomson-Reuters expected the company to report loss of $1.91 per share on revenue of $6.02 million.

Precision BioSciences shares had closed at $10.64, down 2.65 percent on Friday. The stock has traded in the range of $8.25 - $27.03 in the last 1 year.