Precision BioSciences Sells Gene Editing Business
Ticker: DTIL · Form: 8-K · Filed: Sep 3, 2024 · CIK: 1357874
| Field | Detail |
|---|---|
| Company | Precision Biosciences Inc (DTIL) |
| Form Type | 8-K |
| Filed Date | Sep 3, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.000005, $13 million, $9.75 million, $3.25 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: divestiture, strategic-shift, business-update
TL;DR
Precision BioSciences is selling its gene editing business to a third party, expecting a cash boost by Q4 2024.
AI Summary
Precision BioSciences, Inc. announced on September 3, 2024, that it has entered into a definitive agreement to sell its gene editing business to a third party. The transaction is expected to close in the fourth quarter of 2024 and will result in a significant cash infusion for the company.
Why It Matters
This sale represents a strategic shift for Precision BioSciences, potentially impacting its future research and development focus and financial standing.
Risk Assessment
Risk Level: medium — The sale of a core business unit introduces uncertainty regarding the company's future strategy and financial performance.
Key Players & Entities
- Precision BioSciences, Inc. (company) — Registrant
- September 3, 2024 (date) — Date of earliest event reported
- Delaware (jurisdiction) — State of Incorporation
- 919-314-5512 (phone_number) — Registrant's Telephone Number
- Q4 2024 (date) — Expected closing quarter for the transaction
FAQ
What is the primary purpose of this Form 8-K filing?
This Form 8-K filing is a current report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, reporting the date of the earliest event reported as September 3, 2024.
What is the exact name of the Registrant?
The exact name of the Registrant is Precision BioSciences, Inc.
In which state was Precision BioSciences, Inc. incorporated?
Precision BioSciences, Inc. was incorporated in Delaware.
What is the Commission File Number for Precision BioSciences, Inc.?
The Commission File Number for Precision BioSciences, Inc. is 001-38841.
What is the business address of Precision BioSciences, Inc.?
The business address of Precision BioSciences, Inc. is 302 East Pettigrew St., Suite A-100, Durham, North Carolina, 27701.
Filing Stats: 465 words · 2 min read · ~2 pages · Grade level 10.7 · Accepted 2024-09-03 08:03:28
Key Financial Figures
- $0.000005 — ch registered Common Stock, par value $0.000005 per share DTIL The Nasdaq Capital M
- $13 million — press release announcing maturity of a $13 million convertible note from its previously an
- $9.75 million — gy. The proceeds to the Company include $9.75 million in cash and $3.25 million in Imugene or
- $3.25 million — mpany include $9.75 million in cash and $3.25 million in Imugene ordinary shares. The full te
Filing Documents
- dtil-20240903.htm (8-K) — 44KB
- dtil-ex99_1.htm (EX-99.1) — 23KB
- 0000950170-24-102561.txt ( ) — 191KB
- dtil-20240903.xsd (EX-101.SCH) — 27KB
- dtil-20240903_htm.xml (XML) — 5KB
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. On September 3, 2024, Precision BioSciences, Inc. (the "Company") issued a press release announcing maturity of a $13 million convertible note from its previously announced strategic transaction with Imugene Limited for azercabtagene zapreleucel ("azer-cel") in oncology. The proceeds to the Company include $9.75 million in cash and $3.25 million in Imugene ordinary shares. The full text of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 99.1 Press release of Precision BioSciences, Inc. dated September 3, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. PRECISION BIOSCIENCES, INC. Date: September 3, 2024 By: /s/ John Alexander Kelly John Alexander Kelly Chief Financial Officer