---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-044831"
form_type: "8-K"
ticker: "DTIL"
cik: "0001357874"
company_name: "PRECISION BIOSCIENCES INC"
filed_at: "2024-04-16T23:59:59+00:00"
generated_at: "2026-06-03T22:09:24.104448+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Precision BioSciences loses Lilly/Prevail collaboration; regains DMD, PBGENE-LLY2, PBGENE-LLY3 programs

## Summary
- Prevail (Lilly sub) terminated collaboration without cause effective July 10, 2024; Precision exercised reversion option to regain programs.
- Collaboration had generated up to $135M upfront; potential milestones up to $390-395M per product plus royalties are now lost.
- Preliminary Q1 2024 cash ~$137M; expected cash runway into H2 2026 unaffected (no Prevail milestones assumed).
- Precision claims strong proof-of-concept data: up to 45% gene insertion in non-dividing cells in NHP; plans to develop programs independently or with new partners.
- Near-term priorities (HBV, PMM, OTC partnership with iECURE) unchanged; IND/CTA submissions on track for 2024-2025.

## SEC filing metadata
- accession: 0000950170-24-044831
- form_type: 8-K
- ticker: DTIL
- cik: 0001357874
- company_name: PRECISION BIOSCIENCES INC
- filed_at: 2024-04-16T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.02, 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1357874/000095017024044831/0000950170-24-044831-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1357874/000095017024044831/dtil-20240411.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-044831
- JSON: https://secwatch.observer/filing/0000950170-24-044831.json
- Plain text: https://secwatch.observer/filing/0000950170-24-044831.txt

## Key facts
- Material Agreements
  PRECISION BIOSCIENCES INC terminated Amended and Restated Development and License Agreement with Prevail Therapeutics Inc. valued at Termination without cause upon 90 days notice (effective 2024-04-11).
  - Action: termination
  - Agreement: license
  - Counterparty: Prevail Therapeutics Inc.
  - Value: Termination without cause upon 90 days notice
  - Effective: 2024-04-11
  source text: On April 11, 2024, Precision BioSciences, Inc. (the “Company”) received written notice from Prevail Therapeutics Inc. (“Prevail”), a wholly-owned subsidiary of Eli Lilly and Company, of Prevail’s termination of the Amended and Restated Development and License Agreement, dated June 30, 2023, between Prevail and the Company (the “Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1357874/000095017024044831/0000950170-24-044831-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.