Precision BioSciences: Promising Advancements in Genetic Medicine with Key Data Updates Anticipated by 2026We see two key value inflection points in 2026 — (1) maturing cHBV data in 1Q26, and (2) initial data in DMD in 2026 (IND by YE25). Despite a crowded DMD space, drugs addressing individual exon mutations are being assigned significant implied valuations. Precision Bio's approach is highly differentiated. The drug is in vivo editing the dystrophin gene to express a functional truncated dystrophin protein, hence circumventing the need for developing separate drugs for different exon mutations. We see the present as being a good time to get into DTIL ahead of 2026 readouts. At AASLD on November 10th, Precision presented updated data from 9 patients from the Phase 1 ELIMINATE-B trial with PBGENE-HBV across three dose levels, including—(Cohort 1) 0.2 mg/kg, (Cohort 2) 0.4 mg/kg and (Cohort 3) 0.8 mg/kg (press release, presentation).