The first-in-human cccDNA elimination data is a transformative derisking event for PBGENE-HBV, a potential curative therapy for chronic hepatitis B. Traders should watch for the next clinical data update from both PBGENE-HBV and PBGENE-DMD expected at year-end 2026, which will be the next major catalyst. The cash runway through 2028 removes near-term financing risk, but the stock remains binary on clinical execution.
Price Chart
Executive Summary
Precision BioSciences reported Q2 2026 results with no revenue and a GAAP net loss of $32.7M ($1.26/share), a wider loss than Q2 2025's $23.5M ($2.13/share) driven by non-cash warrant liability fair value adjustments. The core catalyst is the first-ever clinical biopsy evidence of direct cccDNA elimination from the PBGENE-HBV program, presented at EASL, which validates the gene editing mechanism and is a major derisking event for the pipeline. Cash runway of $112.4M is sufficient through 2028 to fund key data milestones from both PBGENE-HBV and PBGENE-DMD, with the next clinical updates targeted for year-end 2026.
Key Financial Metrics
Key Facts
- First clinical biopsy evidence of direct cccDNA elimination from PBGENE-HBV: 1-log reduction in cccDNA with <1% remaining after two doses.
- PBGENE-HBV demonstrated sustained pgRNA loss in 100% of evaluable patients at EASL, a key serum biomarker for cccDNA elimination.
- Cash balance of $112.4M as of June 30, 2026, expected to fund both PBGENE-HBV and PBGENE-DMD data milestones through 2028.
- No revenue reported for Q2 2026 (vs. <$0.1M in Q2 2025); net loss of $32.7M ($1.26/share) vs. $23.5M ($2.13/share) in Q2 2025.
- Two clinical trial sites now active for the Phase 1/2 FUNCTION-DMD trial of PBGENE-DMD, with initial safety data expected year-end 2026.
- Added to the Russell 2000 Index effective June 26, 2026, expanding institutional visibility.
Financial Impact
No revenue in Q2 2026; net loss widened to $32.7M from $23.5M YoY, driven by $13.9M non-cash warrant liability loss. Cash burn of ~$24.7M in H1 2026, with $112.4M cash runway through 2028.
Risk Factors
- Clinical-stage biotech with no approved products; PBGENE-HBV and PBGENE-DMD are still in early-phase trials with binary outcomes.
- Net loss widened due to non-cash warrant liability adjustments tied to stock price appreciation, which could reverse.
- Dependence on successful enrollment and data from ongoing Phase 1/2 trials; any safety or efficacy setbacks would be severely negative.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-053836 |
| Document: dtil-20260806.htm | 0001628280-26-053836 |
| Document: 0001628280-26-053836-index-headers.html | 0001628280-26-053836 |
| Document: 0001628280-26-053836-index.html | 0001628280-26-053836 |
| Document: 0001628280-26-053836.txt | 0001628280-26-053836 |
| 8-K Data (Synthetic) | 0001628280-26-053836 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 22, 2026 4w ago | Institutional Cluster | $7.19 $6.36 | ▼ −11.54% | ▼ −10.82% | $6.41 (−10.85%) |
Aug 24, 2026 9w ago | 8-K | $8.45 $8.55 | ▲ +1.18% | ▲ +0.86% | $6.41 (−24.14%) |
Aug 6, 2026 11w ago | 8-K | $7.42 $7.49 | ▲ +0.94% | ▲ +0.33% | $6.41 (−13.61%) |
Jul 27, 2026 13w ago | 8-K | $7.25 $7.17 | ▼ −1.10% | ▼ −1.34% | $6.41 (−11.59%) |
Jul 1, 2026 16w ago | 8-K | $7.88 $8.18 | ▲ +3.81% | ▲ +3.94% | $6.41 (−18.65%) |
Jun 16, 2026 18w ago | 8-K | $6.50 $6.81 | ▲ +4.77% | ▲ +3.99% | $6.41 (−1.38%) |
May 27, 2026 21w ago | 8-K | $7.59 $6.92 | ▼ −8.83% | ▼ −9.38% | $6.41 (−15.55%) |
May 26, 2026 21w ago | 8-K | $7.59 $6.92 | ▼ −8.83% | ▼ −9.38% | $6.41 (−15.55%) |
May 5, 2026 24w ago | 8-K | $7.45 $7.52 | ▲ +0.94% | ▼ −0.45% | $6.41 (−13.96%) |
Apr 8, 2026 28w ago | DEFA14A | $5.99 $6.61 | ▲ +10.35% | ▲ +9.78% | $6.41 (+7.01%) |
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