Precision BioSciences (NASDAQ: DTIL) reported Q2 EPS of ($0.63), $0.04 worse than the analyst estimate of ($0.59). Revenue for the quarter came in at $1.08 million versus the consensus estimate of $4.39 million.

• Dosed First Patient in Phase 1/2a Clinical Trial of PBCAR269A, a BCMA-Targeted Allogeneic CAR T Candidate for Multiple Myeloma
• PBCAR0191 and PBCAR20A Clinical Studies Progressing; Updated Interim Data Expected from PBCAR0191 No Earlier Than Q4 2020
• Expect to Select Clinical Candidate for Wholly-Owned In Vivo Gene Correction Program Targeting PH1 in 2H 2020
• Elo Life Systems, a Wholly-Owned Subsidiary, Entered Strategic Collaboration with Dole Food Company Aimed to Develop Banana Varieties Resistant to Panama Disease

“We have continued to make important progress across our clinical portfolio, including the initiation of our Phase 1/2a study of BCMA-targeted PBCAR269A, bringing us to three CAR T candidates now in clinical trials. However, due to study site activation and patient enrollment delays related to the COVID-19 pandemic, we now anticipate reporting updated interim data from our lead candidate, PBCAR0191, targeting CD19 in heavily pretreated patients with R/R NHL or B-ALL, no earlier than the fourth quarter of 2020,” said Matt Kane, CEO and co-founder of Precision BioSciences. “Our pre-clinical work also continued to progress, including our lead gene correction program targeting PH1, for which we look forward to nominating a clinical candidate later this year. We anticipate sharing more about this program as it advances towards the clinic, including what we believe are prudent safety and delivery advantages with ARCUS genome editing that support additional in vivo targets of interest.”

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