Revenue: As of FY2026 Q1, the actual value is USD 10.84 M, beating the estimate of USD 4.05 M.EPS: As of FY2026 Q1, the actual value is USD -0.75, missing the estimate of USD -0.655.EBIT: As of FY2026 Q1, the actual value is USD -9.763 M.Precision BioSciences, Inc. operates as a single operating segment focused on the discovery and development of therapies utilizing its ARCUS genome editing platform, thus all reported financial metrics apply to this single segment .<h4>Revenue</h4>Revenue for the three months ended March 31, 2026, was $10.8 million, a significant increase from $0.1 million for the same period in 2025, primarily due to revenue recognized under the TG License Agreement and a legacy ARCUS agriculture gene editing agreement .<h4>Operating Expenses</h4>Total operating expenses decreased to $19.9 million in the first quarter of 2026 from $22.1 million in the first quarter of 2025, representing a decrease of $2.2 million . Research and Development (R&amp;D) Expenses: R&amp;D expenses were $13.1 million for the three months ended March 31, 2026, down from $13.6 million for the same period in 2025, a decrease of $0.5 million . PBGENE-HBV external development costs increased to $1.8 million in 2026 from $1.6 million in 2025 . PBGENE-DMD external development costs increased to $4.0 million in 2026 from $2.4 million in 2025 . Employee-related costs for platform development and early-stage research decreased to $4.5 million in 2026 from $5.3 million in 2025 . CMOs and outsourced research and development decreased significantly to $0.1 million in 2026 from $2.1 million in 2025 . General and Administrative (G&amp;A) Expenses: G&amp;A expenses decreased to $6.8 million in 2026 from $8.6 million in 2025, a decrease of $1.8 million, primarily due to a $1.6 million decrease in employee-related costs .<h4>Operating Loss and Net Loss</h4>Operating loss improved to - $9.1 million in the first quarter of 2026 from - $22.1 million in the first quarter of 2025 . Net loss was - $18.4 million for the three months ended March 31, 2026, an improvement from - $20.6 million for the same period in 2025 .<h4>Other (Expense) Income</h4><ul><li>Gain from equity method investment was $0 in 2026 compared to $1.3 million in 2025 .</li><li>Loss on changes in other fair value adjustments was - $3.0 million in 2026, compared to $0.0 million in 2025 .</li><li>Loss on change in fair value of warrant liability was - $7.1 million in 2026, compared to - $0.8 million in 2025 .</li><li>Interest income decreased to $1.0 million in 2026 from $1.3 million in 2025 .</li></ul><h4>Cash Flow</h4><ul><li>Net cash used in operating activities was - $11.9 million for the three months ended March 31, 2026, an improvement from - $19.1 million for the same period in 2025 .</li><li>Net cash used in investing activities was - $0.1 million in 2026, compared to - $0.3 million in 2025 .</li><li>Net cash provided by financing activities was $0.7 million in 2026, a decrease from $10.7 million in 2025 .</li></ul><h4>Liquidity and Capital Resources</h4>As of March 31, 2026, Precision BioSciences, Inc. had cash and cash equivalents of $99.4 million and restricted cash of $26.5 million . The company had an accumulated deficit of - $546.6 million as of March 31, 2026 .<h4>Outlook and Strategic Updates</h4>Precision BioSciences, Inc. expects its existing cash and cash equivalents, along with its ATM facility, to be sufficient to fund operating expenses and capital expenditure requirements through 2028 . This funding is anticipated to support PBGENE-HBV and PBGENE-DMD data milestones through 2028, with further clinical data from the PBGENE-HBV program expected at medical conferences in 2026 . Additionally, iECURE is set to present clinical data from the OTC-HOPE trial in May 2026, and preliminary Phase 1 azer-cel data in progressive multiple sclerosis is expected in the second half of 2026 .<h4>Operational Metrics and Program Updates</h4><ul><li>PBGENE-HBV: The ELIMINATE-B clinical trial has treated 16 patients across five cohorts, and CTA approval was received to expand into France and Romania, with initial patient screening expected in Q2 2026 .</li><li>PBGENE-DMD: The FUNCTION-DMD Phase 1⁄2 clinical trial advanced with the activation of Arkansas Children’s Hospital as the first site and active patient enrollment, following FDA Fast Track designation in March 2026 .</li><li>PBGENE-3243: Development has been paused to prioritize other programs .</li><li>ECUR-506 (Partnered with iECURE): The OTC-HOPE trial is ongoing, with preliminary clinical data expected in May 2026 .</li><li>Azer-cel (Partnered with Imugene and TG Therapeutics): Imugene continues development for diffuse large B-cell lymphoma, and TG Therapeutics achieved a clinical milestone resulting in a $7.5 million payment, including $5.25 million cash and $2.25 million for common stock purchase .</li></ul>

Precision Biosciences | 10-Q: FY2026 Q1 Revenue Beats Estimate at USD 10.84 M