Precision BioSciences, a clinical-stage gene editing company leveraging its proprietary ARCUS platform, announced it has received $7.5 million in proceeds from TG Therapeutics following the achievement of a clinical milestone tied to azercabtagene zapreleucel (azer-cel). The payment was triggered by progress in a Phase 1 clinical trial evaluating azer-cel in progressive forms of multiple sclerosis.
The proceeds consist of $5.25 million in cash and $2.25 million through the purchase of 201,504 shares of Precision common stock by TG Therapeutics at $11.17 per share, in accordance with the companies’ existing license agreement. The company said that existing cash and cash equivalents, inclusive of the milestone proceeds, along with continued fiscal and operating discipline and access to its at-the-market facility, are expected to support its cash runway through 2028.
Precision granted TG Therapeutics exclusive worldwide rights in January 2024 to develop and commercialize azer-cel in autoimmune diseases and other non-oncology indications. Under the agreement, Precision received upfront payments and remains eligible for additional development, regulatory, and commercial milestone payments totaling up to $288 million, along with high-single-digit to low-double-digit royalties on net sales.
The company emphasized that the milestone reflects continued clinical advancement of azer-cel in progressive multiple sclerosis and highlights the value of its strategic partnering model. Precision noted that partnered program progress complements anticipated data and development catalysts in 2026 across its wholly owned in vivo gene editing pipeline.
Precision BioSciences is focused on developing in vivo gene editing therapies targeting diseases with significant unmet need. Its ARCUS genome editing platform is designed to enable precise and efficient gene edits, including gene insertion, elimination, and excision. The company’s pipeline includes candidates such as PBGENE-HBV and PBGENE-DMD, which are aimed at addressing genetic and infectious diseases where treatment options remain limited.
Looking ahead, Precision outlined expectations for continued operational execution, additional potential milestones from licensees including TG Therapeutics, and sustained investment in its in vivo gene editing programs. The company cautioned that forward-looking statements regarding regulatory timelines, clinical development, milestone payments, and cash runway are subject to risks and uncertainties, including clinical trial outcomes, regulatory processes, reliance on third parties, and other factors detailed in its filings with the U.S. Securities and Exchange Commission.
KEY QUOTE:
“We are pleased with TG Therapeutics’ continued advancement of azer-cel in progressive multiple sclerosis and with the achievement of this clinical milestone. Their clinical progress reflects the potential of azer-cel in autoimmune diseases such as multiple sclerosis and underscores the value of our strategic partnering approach. Importantly, it also highlights the additive value of our partnered programs as we enter a catalyst-rich 2026, with multiple potential data and development milestones complementing progress across our wholly-owned in vivo gene editing pipeline.”
Michael Amoroso, President and Chief Executive Officer, Precision BioSciences
