Melinda Brown, director at Precision BioSciences Inc . (NASDAQ:), recently increased its stake in the company by buying 3,016 common shares. The purchase, made on December 26, 2024, was made at a weighted average price of $4.55 per share, resulting in a total transaction value of $13,722. After this transaction, Brown’s direct ownership in the company is 7,218 shares. The acquisition comes at an interesting time for the $35.67 million market cap biotech company, which trades at an attractive price-to-book ratio of 0.55 and maintains a healthy balance sheet with more cash than debt. According to InvestingPro analysis, the stock appears to be undervalued based on fair value calculations, with 8 additional real-time insights available to subscribers. The company, which specializes in the development of biological products, has shown strong revenue growth with an increase of 43.62% in the last twelve months.
In other recent news, Precision BioSciences has advanced its gene editing therapies on multiple fronts. The company has received approval for its Hong Kong clinical trial application for PBGENE-HBV, a potential treatment for chronic hepatitis B. This approval allows Precision BioSciences to expand its ELIMINATE-B Phase I trial to Hong Kong, a region with more than 400,000 individuals living with chronic hepatitis B.
At the same time, Precision BioSciences maintained its market perform rating from BMO Capital, highlighting PBGENE-HBV’s progress. The company also showcased the high-throughput gene editing capabilities of its ARCUS platform at the European Society for Gene and Cell Therapy Congress, highlighting its potential for diseases that require functional restoration.
Furthermore, Precision BioSciences has initiated a Phase 1 clinical trial for PBGENE-HBV, marking the first in vivo gene editing therapy for chronic hepatitis B to enter global clinical trials. The company also announced the submission of a clinical trial application to initiate this first phase of the study.
In financial news, the company received a $13 million convertible note payment from Imugene Limited, strengthening its financial resources. These recent developments reflect Precision BioSciences’ ongoing efforts to advance gene editing therapies and tackle global health issues.
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