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# Precision BioSciences Cuts Quarterly Loss To $7.6 Million On A $12.7 Million Warrant Gain
- URL: https://www.bullished.co/precision-biosciences-cuts-quarterly-loss-to-7-6-million-on-a-12-7-million-warrant-gain-067f0be7/
- Published: 2026-11-03T13:26:05.000Z
- Updated: 2026-11-03T13:26:05.000Z
- Description: A non-cash gain offset a $20.4 million operating loss, while stock sales now help support the company's runway-through-2028 claim.
- Author: Matteo Parrino
- Tags: SEC Filings, DTIL, Industry: Healthcare

[Precision BioSciences](https://www.bullished.co/tag/dtil/), a clinical-stage gene editing company, cut its third-quarter net loss to [$7.6 million](https://www.sec.gov/Archives/edgar/data/0001357874/000162828026069092/dtil-20260930.htm?ref=bullished.co) from $21.8 million a year earlier, but the improvement came from a $12.7 million non-cash gain on warrants, not from the business. The operating loss was $20.4 million, barely changed from $20.7 million a year earlier, according to the 10-Q filed Tuesday.

## A paper gain, not a better business

The warrants were sold in the March 2024 and November 2025 offerings. They are carried as liabilities because the company could owe holders cash if someone takes control of 50% of its shares, so they are re-valued every quarter. The company's [earnings release](https://www.sec.gov/Archives/edgar/data/0001357874/000162828026069115/q32026earningsrelease%5Ffinal.htm?ref=bullished.co) said a change in its stock price lowered the liability and produced the gain, which it said has no impact on operating cash runway.

The swing reverses the prior quarter, when the [second-quarter filing](https://www.sec.gov/Archives/edgar/data/0001357874/000162828026053837/dtil-20260630.htm?ref=bullished.co) showed a $13.9 million warrant loss. The liability stands at $24.0 million, versus $15.7 million at December 31\. For the nine months, the warrant mark is still an $8.3 million loss, against $1.2 million a year earlier, and the net loss was $58.7 million.

Research spending was $12.7 million, down from $13.4 million, while general and administrative costs rose to $7.7 million from $7.3 million. The company recognized no revenue in the quarter.

## Stock sales help carry the runway claim

The company still says cash, operating discipline and availability of its at-the-market stock facility will fund operations through 2028\. Net proceeds from that facility were $10.9 million in the nine months, down from $16.4 million a year earlier. Selling shares this way dilutes existing holders.

Cash, cash equivalents and restricted cash totaled [$108.0 million](https://www.businesswire.com/news/home/20261103269984/en/Precision-BioSciences-Reports-Third-Quarter-2026-Financial-Results-and-Provides-Business-Update?ref=bullished.co) at September 30, down from $137.2 million at December 31\. A $22.5 million term loan with Banc of California is secured by a cash account the company must keep funded. The accumulated deficit reached $586.9 million, up from $579.3 million at June 30.

## Hepatitis B data and Duchenne safety readout ahead

Precision's ARCUS platform edits DNA inside the body. Its lead program, PBGENE-HBV, is being tested as a potential cure for chronic hepatitis B in the ELIMINATE-B trial. Its abstract goes public Thursday, and the late-breaking oral talk is Sunday at the liver disease association's annual meeting.

In August the company dosed its first patient in the Phase 1/2 trial of PBGENE-DMD, its Duchenne muscular dystrophy treatment, at Arkansas Children's Hospital. Safety results are targeted for year-end 2026; efficacy readouts are expected in both halves of 2027.

Partners are also advancing programs. In TG Therapeutics' multiple sclerosis study, 89% of evaluable participants showed stable or better disability scores by Day 90, while iECURE reported a 74% reduction in severe ammonia crises in its low-dose cohort.

The next test is Sunday's oral presentation of the hepatitis B data, with Duchenne safety results targeted for the end of the year.

### Sources

- [10-Q Filing — Precision BioSciences (DTIL)](https://www.sec.gov/Archives/edgar/data/0001357874/000162828026069092/dtil-20260930.htm?ref=bullished.co) — SEC EDGAR
- [10-Q Filing — Precision BioSciences (DTIL), Q2 FY2026 filed 2026-08-06 (comparison basis)](https://www.sec.gov/Archives/edgar/data/0001357874/000162828026053837/dtil-20260630.htm?ref=bullished.co) — SEC EDGAR
- [Earnings release (8-K Item 2.02, q32026earningsrelease\_final.htm) — Precision BioSciences, filed 2026-11-03](https://www.sec.gov/Archives/edgar/data/0001357874/000162828026069115/q32026earningsrelease%5Ffinal.htm?ref=bullished.co) — SEC EDGAR
- [Precision BioSciences Q3 2026 Earnings Preview (NASDAQ:DTIL) | Seeking Alpha](https://seekingalpha.com/news/4662539-precision-biosciences-q3-2026-earnings-preview?ref=bullished.co) — seekingalpha.com
- [Precision BioSciences: Q3 Earnings Snapshot | 9news.com](https://www.9news.com/article/syndication/associatedpress/precision-biosciences-q3-earnings-snapshot/616-6666c1cf-c6a5-46fa-9f21-eeb6f5633809?ref=bullished.co) — Associated Press
- [Precision BioSciences Reports Third Quarter 2026 Financial Results and Provides Business Update](https://www.businesswire.com/news/home/20261103269984/en/Precision-BioSciences-Reports-Third-Quarter-2026-Financial-Results-and-Provides-Business-Update?ref=bullished.co) — businesswire.com

### More on Precision BioSciences

- [BlackRock Crosses 5% Of Precision Biosciences With A 1.38 Million-Share Stake](https://www.bullished.co/blackrock-crosses-5-of-precision-biosciences-with-a-1-38-million-share-stake-7a32a143/)

[All Precision BioSciences (DTIL) coverage →](https://www.bullished.co/tag/dtil/)