TG Therapeutics Inc. (NASDAQ: TGTX) completed a milestone payment of $7.5 million to Precision BioSciences Inc. (NASDAQ: DTIL) for progress in a Phase 1 clinical trial of azer‑cel, a gene‑editing therapy for progressive multiple sclerosis. The payment consists of $5.25 million in cash and $2.25 million in Precision stock, which corresponds to 201,504 shares purchased at $11.17 per share under the terms of the two‑party license agreement.
The milestone is part of TG’s partnership with Precision, which granted TG exclusive worldwide rights to develop and commercialize azer‑cel in autoimmune diseases. Precision is eligible for up to $288 million in additional milestone payments as the program advances, and the $7.5 million infusion extends Precision’s cash runway through 2028, providing critical financial support for its in‑vivo gene‑editing pipeline.
TG’s recent earnings report, released on February 26, 2026, showed a $0.14 per share earnings per share (EPS) against an estimate of $0.35, a miss that highlighted the company’s ongoing focus on scaling its flagship product Briumvi while investing heavily in late‑stage programs. The milestone payment, while modest relative to TG’s $192.6 million Q4 2025 revenue, underscores the company’s commitment to advancing azer‑cel and diversifying its autoimmune portfolio.
Precision BioSciences, which reported only $0.64 million in revenue for the quarter ended December 2024, relies on partnership milestones to fund its research and development. The $7.5 million payment provides a buffer that allows Precision to continue investing in its ARCUS platform and other gene‑editing initiatives without immediate liquidity pressure.
Azer‑cel is being developed under the TG partnership for progressive multiple sclerosis and is also being explored in oncology indications such as diffuse large B‑cell lymphoma. The dual‑track development strategy positions azer‑cel as a versatile platform that could address unmet needs across both autoimmune and cancer markets, potentially expanding its commercial footprint beyond the current MS focus.
Management comments highlight the significance of the milestone. Precision CEO Michael Amoroso noted that the achievement “reflects the potential of azer‑cel in autoimmune diseases and underscores the value of our strategic partnering approach.” TG CEO Michael S. Weiss emphasized that the milestone “builds on our strong financial guidance and demonstrates our disciplined approach to operations.”
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