Precision BioSciences CAR T deal marks pivot to gene editing, says Stifel

Stifel keeps a Buy rating on Precision Biosciences after the company announced Imugene Limited will assume control of azer-cel development in the post-CAR T setting of large B-cell lymphoma for an upfront of $21M. The azer-cel transaction marks Precision’s pivot away from CAR T oncology development, allowing the company to focus resources on its in vivo gene editing franchise, the analyst tells investors in a research note. The firm believes very little of the stock’s current value reflects the company’s gene editing candidates.