Precision BioSciences (DTIL) Reports $108.0M Cash and Runway Through 2028

What happened

Precision BioSciences reported about $108.0M in cash, cash equivalents and restricted cash as of September 30, 2026, and expects its cash to last through 2028. Its third-quarter net loss was $7.6M, or $0.28 per share, compared with $21.8M, or $1.84 per share, a year earlier.

Confirmed

Global impact / market context

The smaller loss came mainly from a non-cash warrant-liability gain, which means an accounting benefit rather than cash earned from operations. Cash is what actually funds drug trials, so the runway statement matters more for investors than the headline loss improvement, since it indicates how long the company can operate without new financing.

Analyst inference

Precision BioSciences has no meaningful product revenue, so it depends on its cash balance to pay for clinical testing, including the FUNCTION-DMD program and PBGENE-HBV trial. Investors in such clinical-stage companies typically focus on how long cash lasts and on upcoming trial data rather than on quarterly accounting gains or losses.

Analyst inference

What to watch

1. Initial safety data from the FUNCTION-DMD program are targeted for year-end 2026, after the first patient was dosed in August. Confirmed
2. Watch whether the company selects a dosing schedule for Phase 2 expansion of PBGENE-HBV as enrollment and cohort expansion continue. Proposed
3. Track whether spending speeds up as trials advance, since faster cash use could shorten the stated runway through 2028 and raise the chance of new financing. Analyst inference

Evidence

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