Item 2.02 Results of Operations and Financial Condition.
Although it has not finalized its full financial results for the year ended
December 31, 2021, Precision BioSciences, Inc. (the “Company”) expects to report
that it had approximately $144 million in cash and cash equivalents as of
December 31, 2021. This estimate is unaudited and preliminary and does not
present all information necessary for an understanding of the Company’s
financial condition as of December 31, 2021 and its results of operations for
the three months and year ended December 31, 2021. The Company’s management also
believes that, as of January 7, 2022, the Company’s existing cash and cash
equivalents, expected operational receipts and available credit will allow the
Company to continue its operations to mid-2023. The completion of the Company’s
year-end accounting procedures, including execution of the Company’s internal
control over financial reporting, and audit of the Company’s financial
statements for the year ended December 31, 2021 by the Company’s independent
registered public accounting firm is ongoing and could result in changes to the
information set forth above.
Item 7.01. Regulation FD Disclosure.
On January 4, 2022, the Company issued a press release announcing it will be
presenting at the Annual J.P. Morgan Health Care Conference taking place
virtually January 10-13, 2022. A link to the live webcast and a copy of the
presentation materials to be discussed will be available in the Investors
section under Events & Presentations on the Company’s website at
the conference, an archived replay of the webcast will be accessible on the
Investors & Media page of the Company’s website for 30 days after the webcast. A
copy of the press release is furnished as Exhibit 99.1 to this Current Report on
Form 8-K (“Form 8-K”) and is incorporated in this Item 7.01 by reference.
The information in this Form 8-K (including Exhibit 99.1) is being furnished and
shall not be deemed “filed” for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to
the liabilities of that Section, nor shall it be deemed to be incorporated by
reference into any filing of the Company under the Securities Act of 1933, as
amended, or the Exchange Act, except as expressly set forth by specific
reference in such filing.
Statements in this Form 8-K regarding management’s future expectations, beliefs,
intentions, goals, strategies, plans or prospects are forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995,
including, but not limited, to statements regarding Company’s expected cash
balance and projected cash needs. Forward-looking statements may be identified
by words such as “anticipates,” “believe,” “continue,” “expect,” “intend,”
“may,” “plan to,” “potential,” “projects,” “will,” and other similar words or
expressions, or the negative of these words or similar words or expressions.
Such forward-looking statements involve known and unknown risks, uncertainties
and other important factors, including, without limitation, the risks referred
to under the section “Risk Factors” in the Company’s Quarterly Report on Form
10-Q for the quarterly period ended September 30, 2021, as such factors may be
updated from time to time in the Company’s other filings with the Securities and
Exchange Commission (“SEC”), which filings are accessible on the SEC’s website
at http://www.sec.gov and the Investors page of the Company’s website at
https://investor.precisionbiosciences.com. All forward-looking statements speak
only as of the date of this Form 8-K and, except as required by applicable law,
the Company has 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.
Item 9.01.Financial Statements and Exhibits.
(d) Exhibits Exhibit No. Description 99.1 Press release of Precision BioSciences, Inc. dated January 4, 2022.
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