Precision Biosciences (DTIL) prepares for a $100 million IPO
Durham, NC-based biotech Precision Biosciences has filed a prospectus for a $100 million IPO.
Next year, the company should launch a Phase 1/2a clinical trial evaluating a gene-edited allogeneic CAR T candidate targeting CD18 in acute lymphoblastic leukemia (ALL) and non-Hodgkin lymphoma (NHL) patients. The company believes that this is the first allogeneic CAR T for NHL. It also thinks that this one-step engineering process will reduce costs overcoming many challenges of the field.
Known for developing gene therapies for human diseases and sustainable food and agricultural solutions based on its ARCUS protein engineering platform, the company filed plans on March 1 with the Securities and Exchange Commission for an initial public offering on the Nasdaq stock exchange.
With about 130 employees at present, the company would trade under the ticker symbol “DTIL” and has given indications that it plans to use the IPO proceeds to complete the clinical trials of one cancer treatment, support development of two other disease treatments and build out a manufacturing facility in Research Triangle Park.
The 2018 financials of the company indicated that it posted a net loss of $46 million (-118.0%), cash consumption of 51.7 million (-113.7%) and a net revenue of 10.9 million (+67.8%) in 2018.
MYMD's Stochastic Oscillator is sitting in oversold zone for 1 day
Be on the lookout for a price bounce soon.
Show more
Notable companies
The most notable companies in this group are Regeneron Pharmaceuticals (NASDAQ:REGN), Moderna (NASDAQ:MRNA), Sarepta Therapeutics (NASDAQ:SRPT), Incyte Corp (NASDAQ:INCY), Exelixis (NASDAQ:EXEL), Arrowhead Pharmaceuticals (NASDAQ:ARWR), Novavax (NASDAQ:NVAX), BioCryst Pharmaceuticals (NASDAQ:BCRX), Adaptive Biotechnologies Corp (NASDAQ:ADPT), Inovio Pharmaceuticals (NASDAQ:INO).
Industry description
Biotechnology involves genetic or protein engineering to produce medicines/therapies for treating and preventing ailments. The industry also provides crucial ingredients for diagnostics. This multi-billion-dollar industry is heavily focused on research and development, as companies attempt to continually come up with cutting-edge solutions for health. New discoveries for the treatment of diseases provide opportunities for growth for a company in this industry. Discoveries, however, must pass the regulatory approval from the U.S. Food and Drug Administration (FDA) before they can make it to markets. Amgen Inc., Gilead Sciences, Inc. and Celgene Corporation are examples of companies in this industry.
Market Cap
The average market capitalization across the Biotechnology Industry is 2.93B. The market cap for tickers in the group ranges from 151 to 584.21B. NONOF holds the highest valuation in this group at 584.21B. The lowest valued company is MYMX at 151.
High and low price notable news
The average weekly price growth across all stocks in the Biotechnology Industry was 3%. For the same Industry, the average monthly price growth was 19%, and the average quarterly price growth was 20%. PIRS experienced the highest price growth at 127%, while NYMXF experienced the biggest fall at -94%.
Volume
The average weekly volume growth across all stocks in the Biotechnology Industry was -34%. For the same stocks of the Industry, the average monthly volume growth was -6% and the average quarterly volume growth was 54%
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Valuation Rating: 50
P/E Growth Rating: 85
Price Growth Rating: 58
SMR Rating: 94
Profit Risk Rating: 93
Seasonality Score: -10 (-100 ... +100)