Precision Biosciences' 2023 Cash And Cash Equivalents Of $116.7M, Cash Received From TG Therapeutics, Caribou Of $50M, And $40M Capital Raise Is Expected To Provide Cash Runway Into 2H Of 2026
Portfolio Pulse from Benzinga Newsdesk
Precision Biosciences reported a 2023 cash and cash equivalents total of $116.7M. The company also received $50M from TG Therapeutics and Caribou, along with a $40M capital raise. These funds are expected to extend the company's cash runway into the second half of 2026.
March 27, 2024 | 10:59 am
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Precision Biosciences ends 2023 with $116.7M in cash, bolstered by $50M from partnerships and a $40M capital raise, ensuring operations into 2H 2026.
The significant cash reserves and additional funding from TG Therapeutics, Caribou, and a capital raise not only demonstrate Precision Biosciences' ability to secure funds but also ensure its operational stability and potential for growth into the second half of 2026. This financial stability is likely to positively influence investor confidence and the stock's short-term performance.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100