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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 2.02 Results of Operations and Financial Condition.
Although it has not finalized its full financial results for the year ended December 31, 2021, Precision BioSciences, Inc. (the “Company”) expects to report that it had approximately $144 million in cash and cash equivalents as of December 31, 2021. This estimate is unaudited and preliminary and does not present all information necessary for an understanding of the Company’s financial condition as of December 31, 2021 and its results of operations for the three months and year ended December 31, 2021. The Company’s management also believes that, as of January 7, 2022, the Company’s existing cash and cash equivalents, expected operational receipts and available credit will allow the Company to continue its operations to mid-2023. The completion of the Company’s year-end accounting procedures, including execution of the Company’s internal control over financial reporting, and audit of the Company’s financial statements for the year ended December 31, 2021 by the Company’s independent registered public accounting firm is ongoing and could result in changes to the information set forth above.
Item 7.01. Regulation FD Disclosure.
On January 4, 2022, the Company issued a press release announcing it will be presenting at the Annual J.P. Morgan Health Care Conference taking place virtually January 10-13, 2022. A link to the live webcast and a copy of the presentation materials to be discussed will be available in the Investors section under Events & Presentations on the Company’s website at https://investor.precisionbiosciences.com/events-and-presentations. Following the conference, an archived replay of the webcast will be accessible on the Investors & Media page of the Company’s website for 30 days after the webcast. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K (“Form 8-K”) and is incorporated in this Item 7.01 by reference.
The information in this Form 8-K (including Exhibit 99.1) is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall it be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
Forward-Looking Statements
Statements in this Form 8-K regarding management’s future expectations, beliefs, intentions, goals, strategies, plans or prospects are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited, to statements regarding Company's expected cash balance and projected cash needs. Forward-looking statements may be identified by words such as “anticipates,” “believe,” “continue,” “expect,” “intend,” “may,” “plan to,” “potential,” “projects,” “will,” and other similar words or expressions, or the negative of these words or similar words or expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors, including, without limitation, the risks referred to under the section “Risk Factors” in the Company’s Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2021, as such factors may be updated from time to time in the Company’s other filings with the Securities and Exchange Commission (“SEC”), which filings are accessible on the SEC’s website at www.sec.gov and the Investors page of the Company’s website at https://investor.precisionbiosciences.com. All forward-looking statements speak only as of the date of this Form 8-K and, except as required by applicable law, the Company has no obligation to update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.
Item 9.01.Financial Statements and Exhibits.
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Description |
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99.1 |
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Press release of Precision BioSciences, Inc. dated January 4, 2022. |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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PRECISION BIOSCIENCES, INC. |
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Date: January 10, 2022 |
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By: |
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/s/ John Alexander Kelly |
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John Alexander Kelly |
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Chief Financial Officer |
Exhibit 99.1
Precision BioSciences to Present at the 40th Annual J.P. Morgan Health Care Conference
DURHAM, N.C., January 4, 2022 -- Precision BioSciences, Inc. (Nasdaq: DTIL), a clinical stage biotechnology company developing ex vivo allogeneic CAR T therapies and in vivo therapies with its ARCUS® genome editing platform, today announced that Michael Amoroso, Chief Executive Officer will present a corporate update at the Annual J.P. Morgan Health Care Conference taking place virtually January 10-13, 2022. Precision Co-Founder and Chief Scientific Officer, Derek Jantz, Ph.D., Chief Financial Officer, Alex Kelly and Chief Medical Officer, Alan List, M.D., will join Michael for Q&A.
Details for the virtual company presentation are as follows:
Date: Wednesday, January 12, 2022
Time: 2:15 - 2:55 PM ET
A live webcast of the presentation and accompanying presentation materials, as well as the archived replay of the webcast will be accessible on Precision’s website in the Investors section under Events & Presentations: https://investor.precisionbiosciences.com/events-and-presentations.
About Precision BioSciences, Inc.
Precision BioSciences, Inc. is a clinical stage biotechnology company dedicated to improving life (DTIL) with its novel and proprietary ARCUS® genome editing platform. ARCUS is a highly specific and versatile genome editing platform that was designed with therapeutic safety, delivery, and control in mind. Using ARCUS, the Company’s pipeline consists of multiple “off-the-shelf” CAR T immunotherapy clinical candidates and several in vivo gene editing candidates designed to cure genetic and infectious diseases where no adequate treatments exist. For more information about Precision BioSciences, please visit www.precisionbiosciences.com.
Investor Contact:
Alex Kelly
Chief Financial Officer
Alex.Kelly@precisionbiosciences.com
Media Contact:
Maurissa Messier
Senior Director, Corporate Communications
Maurissa.Messier@precisionbiosciences.com
Document and Entity Information |
Jan. 04, 2022 |
|---|---|
| Cover [Abstract] | |
| Document Type | 8-K |
| Amendment Flag | false |
| Document Period End Date | Jan. 04, 2022 |
| Entity Registrant Name | Precision BioSciences, Inc. |
| Entity Central Index Key | 0001357874 |
| Entity Incorporation, State or Country Code | DE |
| Entity Tax Identification Number | 20-4206017 |
| Entity Address, Address Line One | 302 East Pettigrew St |
| Entity Address, Address Line Two | Suite A-100 |
| Entity Address, City or Town | Durham |
| Entity Address, State or Province | NC |
| Entity Address, Postal Zip Code | 27701 |
| City Area Code | 919 |
| Local Phone Number | 314-5512 |
| Entity File Number | 001-38841 |
| Entity Emerging Growth Company | true |
| Entity Ex Transition Period | false |
| Written Communications | false |
| Soliciting Material | false |
| Pre-commencement Tender Offer | false |
| Pre-commencement Issuer Tender Offer | false |
| Trading Symbol | DTIL |
| Title of 12(b) Security | Common stock, par value $0.000005 per share |
| Security Exchange Name | NASDAQ |