Precision BioSciences Receives $7.5M in Proceeds from TG Therapeutics for Azer-cel Clinical Milestone in Multiple Sclerosis

– Milestone payments include $5.25 million cash and $2.25 million purchase of Precision stock–

– Cash received supports Precision's expected cash runway through 2028 and strategic focus on in vivo gene editing pipeline –

Precision BioSciences, Inc. (NASDAQ:DTIL), a clinical stage gene editing company utilizing its novel proprietary ARCUS^® platform to develop in vivo gene editing therapies for high unmet need diseases, today announced the achievement of a clinical milestone under its license agreement with TG Therapeutics, Inc. (NASDAQ:TGTX). The milestone payment for azercabtagene zapreleucel (azer-cel) was triggered by progress of a Phase 1 clinical trial of azer-cel in progressive forms of multiple sclerosis (MS). As a result of this milestone event, Precision will receive $7.5 million in proceeds, inclusive of $5.25 million cash and $2.25 million for the purchase of 201,504 shares of Precision common stock by TG Therapeutics at $11.17 per share, pursuant to the terms of the companies' license agreement. Existing cash and cash equivalents, inclusive of the azer-cel milestone proceeds, continued fiscal and operating discipline, and availability of the ATM facility, are expected to provide sufficient cash runway through 2028.

"We are pleased with TG Therapeutics' continued advancement of azer-cel in progressive multiple sclerosis and with the achievement of this clinical milestone," said Michael Amoroso, President and Chief Executive Officer of Precision BioSciences. "Their clinical progress reflects the potential of azer-cel in autoimmune diseases such as multiple sclerosis and underscores the value of our strategic partnering approach. Importantly, it also highlights the additive value of our partnered programs as we enter a catalyst-rich 2026, with multiple potential data and development milestones complementing progress across our wholly-owned in vivo gene editing pipeline."

In January 2024, Precision BioSciences announced a licensing deal, granting TG Therapeutics exclusive worldwide rights to develop and commercialize azer-cel in autoimmune diseases and other non-oncology indications. Under the agreement, Precision received upfront and potential near-term economics and remains eligible for additional development, regulatory, and commercial milestone payments, as well as royalties on net sales. Precision is eligible to receive up to $288 million in additional milestone payments as well as high-single-digit to low-double-digit royalties on net sales.

About Precision BioSciences, Inc.

Precision BioSciences, Inc. is a clinical stage gene editing company dedicated to improving life (DTIL) with its novel and proprietary ARCUS^® genome editing platform that differs from other technologies in the way it cuts, its smaller size, and its simpler structure. Key capabilities and differentiating characteristics may enable ARCUS nucleases to drive more intended, defined therapeutic outcomes. Using ARCUS, the Company's pipeline is comprised of in vivo gene editing candidates designed to deliver lasting cures for the broadest range of genetic and infectious diseases where no adequate treatments exist. For more information about Precision BioSciences, please visit www.precisionbiosciences.com.

The ARCUS^® platform is being used to develop in vivo gene editing therapies for sophisticated gene edits, including gene insertion (inserting DNA into gene to cause expression/add function), elimination (removing a genome e.g. viral DNA such as in the Company's PBGENE-HBV program), and excision (removing a large portion of a defective gene by delivering two ARCUS nucleases in a single AAV such as in the Company's DMD program).

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, expectations about operational initiatives, strategies, timing and outcome of regulatory processes; further development and timing of additional updates or data releases of our products (including PBGENE-HBV and PBGENE-DMD) and those of our licensees (including azer-cel); expected multiple potential data and development milestones in 2026; potential additional milestone payments or royalties from our licensees; and the expected cash runway and the sufficiency of the cash runway through 2028 to fund strategic focus on the in vivo gene editing pipeline. In some cases, you can identify forward-looking statements by terms such as "aim," "anticipate," "approach," "belief," "believe," "contemplate," "could," "design," "designed," "estimate," "expect," "goal," "intend," "look," "may," "mission," "plan," "possible," "potential," "predict," "project," "pursue," "should," "strive," "suggest," "target," "will," "would," or the negative thereof and similar words and expressions.

Forward-looking statements are based on management's current expectations, beliefs, and assumptions and on information currently available to us. These statements are neither promises nor guarantees, and involve a number of known and unknown risks, uncertainties and assumptions, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various important factors, including, but not limited to, the progression and success of our programs and product candidates in which we expend our resources; our limited ability or inability to assess the safety and efficacy of our product candidates; our dependence on our ARCUS technology; the initiation, cost, timing, progress, achievement of milestones and results of research and development activities and preclinical and clinical studies, including clinical trial and investigational new drug applications; our ability to advance product candidates into, and successfully design, implement and complete, clinical trials; changes in interim "top-line" and initial data that we announce or publish; our current and future relationships with and reliance on third parties including suppliers and manufacturers; and other important factors discussed under the caption "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2024 and our Quarterly Reports on Form 10-Q for the quarterly periods ended March 31, 2025, June 30, 2025, and September 30, 2025 as any such factors may be updated from time to time in our other filings with the U.S. Securities and Exchange Commission (SEC), which are accessible on the SEC's website at www.sec.gov and the Investors page of our website under SEC Filings at investor.precisionbiosciences.com.

All forward-looking statements speak only as of the date of this press release and, except as required by applicable law, we have no obligation to update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260302531733/en/

Investor and Media Contact:

Naresh Tanna

Vice President of Investor Relations

[email protected]