William Blair & Company initiated research coverage of Precision BioSciences, Inc. (DTIL $8.01). Precision BioSciences is a clinical-stage gene-editing company focused on developing therapies for serious diseases and creating sustainable food using the company's proprietary ARCUS platform.
Analyst Raju Prasad said, "Precision has pioneered the development of its proprietary ARCUS platform, which has several traits required for genome editing: specificity, efficiency, HDR-directed repair, and programmability. In our view, management has executed well in initiating clinical trials with its novel technology, providing proof-of-concept data, and establishing a cGMP manufacturing facility. In 2020, the company will have three ongoing clinical trials from its allogeneic cell therapy platform: PBCAR0191 in non-Hodgkin lymphoma and acute lymphoblastic leukemia with partner Servier; PBCAR20A in NHL, chronic lymphocytic leukemia, and small lymphocytic lymphoma; and PBCAR269A in multiple myeloma. In September 2018, Precision initiated an open-label, single-dose, first-in-human Phase I/IIa trial of PBCAR0191. Initial data was presented at the American Society of Hematology 2019 annual meeting, and although the stock reaction was negative, we view the early responses as encouraging. In September 2019, the FDA cleared the IND for PBCAR20A, and the company plans to begin dosing in first quarter 2020 in a Phase I/II study. The FDA accepted the IND for PBCAR269A in January 2020 and the company anticipates initiating a Phase I/II clinical trial this year."
Prasad continued, "Precision is also developing an in vivo gene corrector to disrupt hepatitis B viral DNA. Gilead has an exclusive license to this product, with an IND application expected in 2021. From its wholly owned in vivo pipeline, Precision anticipates selecting a lead candidate in primary hyperoxaluria in 2020. In addition, Precision's subsidiary Elo Life Systems focuses on the agriculture industry and has a partnership with Cargill."
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