Precision Biosciences Inc (DTIL) · Nov 6, 2026 · Share issuance
$116.5M financing — $116.5M net proceeds; 16.1M new share equivalents vs 27.9M outstanding
Precision BioSciences’ new financing funds HBV and DMD trials, but adds roughly 58% more share equivalents before warrant exercise.
Precision is a clinical-stage gene-editing company moving two wholly owned programs toward near-term clinical milestones: PBGENE-HBV in chronic hepatitis B and PBGENE-DMD in Duchenne muscular dystrophy. Just before this offering, the company reported $108.0 million of cash, cash equivalents and restricted cash and said that existing resources and its ATM facility were expected to fund the business through 2028, including key data milestones.
The financing materially strengthens the balance sheet, but it was not needed to prevent an immediate funding gap. Precision priced 10.235 million shares and pre-funded warrants for another 5.894 million shares, expecting approximately $116.5 million of net proceeds. The money is earmarked for continued development of both lead programs and general corporate needs. 〔0〕
| Metric (source) | Offering | Reference |
|---|---|---|
| Net proceeds (Offering terms) | $116.5M | Q3 cash $108.0M |
| Gross proceeds (Offering terms) | $125.0M | — |
| Common shares sold (Offering terms) | 10.235M | — |
| Pre-funded warrants (Offering terms) | 5.894M | — |
| Total share equivalents (calculated) | 16.129M | 27.936M outstanding |
The cost is unusually large dilution relative to the existing share base. The offering adds roughly 16.1 million share equivalents against about 27.9 million shares outstanding as of late October, or approximately 58% more potential equity before considering any other securities. That leaves existing holders with a substantially smaller percentage of the company, even though the capital supports clinical execution.
This advances execution more than it changes the underlying story. The raise gives Precision additional flexibility around PBGENE-HBV and PBGENE-DMD data generation, but it does not itself provide efficacy, safety or regulatory validation. Because management had already guided to a 2028 runway, the new capital looks more like an opportunistic buffer for development and future catalysts than a rescue financing.
Bottom line: Precision secured meaningful capital for its two clinical programs, but paid for it with heavy dilution. The event is modestly constructive for execution capacity, not a rewrite of the biotech story.
PBGENE-HBV AASLD oral presentation, November 8
A buy-side analyst on every ticker — it reads every public company's filing the instant it drops and decodes it into plain English.
A buy-side analyst on every ticker — the whole market decoded the second it moves, before it's a headline. Free gives you a taste. Pro takes the cap off and opens the full read on every company.
by Signing in NOW, claim your FREE 14-day Pro trial!