aibioPrecision BioSciences extends Banc of California term loan
Tickers DTIL
Precision BioSciences has moved the maturity of its Banc of California term loan from June 30, 2027 to December 31, 2029. The company used $65.8 million in operations in 2025 and ended 2024 with $85.9 million in cash and cash equivalents.
Key facts
- Company
- Precision BioSciences, Inc. (NASDAQ: DTIL)
- News type
- Debt Financing
- Primary source
- Precision BioSciences, Inc. 8-K (2026-06-16)
The term loan amendment
Precision BioSciences, Inc. (Nasdaq: DTIL) entered into a First Amendment to its Amended and Restated Loan and Security Agreement with Banc of California on June 10, 2026. The company reported the amendment under Items 1.01 and 2.03 of Form 8-K and said it had signed the report on June 16, 2026. The amendment extends the maturity date of the term loan from June 30, 2027 to December 31, 2029. The underlying agreement is dated July 31, 2024.
The 8-K does not describe any new principal, interest rate, fee or other change to the term loan. It says the description is qualified by the full text of the First Amendment, which is filed as Exhibit 10.1. The 8-K therefore does not show what, if anything, the extension cost the company, or whether the lender required new terms in exchange for the later date.
Lender and signatory
Banc of California is the lender under the loan and security agreement. The 8-K names no placement agent, no financial advisor and no legal counsel. It was signed by John Alexander Kelly, chief financial officer, for the company, which is based in Durham, North Carolina, and whose common stock trades on the Nasdaq Capital Market.
The gene editing business
Precision describes itself as a clinical-stage gene editing company built on its ARCUS platform, which it uses to develop two clinical-stage in vivo gene editing therapies at once. The company says ARCUS makes a staggered cut that drives more defined edits than other editors, that its small size allows an insertion template to be carried in the same AAV vector, and that it needs no guide RNA, unlike CRISPR-based, base and prime editors. Those are the company's own claims.
The annual report also says ARCUS has shown editing in the liver, muscle, central nervous system, hematopoietic stem cells and the eye. It lists CRISPR-based editors, base editors and prime editors as competing approaches. The company's wholly owned PBGENE-HBV program is in the Phase 1/2a ELIMINATE-B first-in-human trial in chronic hepatitis B, which the company calls potentially curative. The trial tests multiple ascending dose levels at sites in Hong Kong, New Zealand, the United States and Moldova. The business section of the annual report gives no clinical results for either of the two programs, so it cannot show whether ARCUS performs better than those rivals in patients, or whether the curative aim is met.
Losses and cash
The annual report, filed March 12, 2026, shows research and development expense of $54.2 million in 2025, down from $59.6 million in 2024. The company reported a net loss of $45.7 million for 2025, after net income of $7.2 million in 2024. The annual report figures cited here do not say what produced the 2024 profit.
Cash used in operations rose to $65.8 million in 2025 from $58.4 million in 2024. At the end of 2024 the company held $85.9 million in cash and cash equivalents and $413,000 in short-term investments.
What comes next
The term loan is now due at the end of 2029, and the 8-K gives no repayment plan for it and no reason for the extension. The company used $65.8 million in operations in 2025, and the 8-K does not say how it plans to fund operations until the new maturity.