<SEC-DOCUMENT>0000950123-19-002442.txt : 20190424
<SEC-HEADER>0000950123-19-002442.hdr.sgml : 20190424
<ACCEPTANCE-DATETIME>20190221171226
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000950123-19-002442
CONFORMED SUBMISSION TYPE:	DRSLTR
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20190221

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PRECISION BIOSCIENCES INC
		CENTRAL INDEX KEY:			0001357874
		STANDARD INDUSTRIAL CLASSIFICATION:	BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DRSLTR

	BUSINESS ADDRESS:	
		STREET 1:		302 EAST PETTIGREW STREET
		STREET 2:		SUITE A-100
		CITY:			DURHAM
		STATE:			NC
		ZIP:			27701
		BUSINESS PHONE:		919-314-5512

	MAIL ADDRESS:	
		STREET 1:		302 EAST PETTIGREW STREET
		STREET 2:		SUITE A-100
		CITY:			DURHAM
		STATE:			NC
		ZIP:			27701
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>S<SMALL>MITH</SMALL>, A<SMALL>NDERSON</SMALL>, B<SMALL>LOUNT</SMALL>, </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>D<SMALL>ORSETT</SMALL>, M<SMALL>ITCHELL</SMALL>, &amp; J<SMALL>ERNIGAN</SMALL>, L.L.P. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">L<SMALL>AWYERS</SMALL> </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">OFFICES</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Wells Fargo Capitol Center</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">150
Fayetteville Street, Suite 2300</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Raleigh, North Carolina 27601</P></TD>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">MAILING ADDRESS</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">P.O. Box 2611</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Raleigh, North
Carolina</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">27602-2611</P></TD></TR>
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<TD VALIGN="top" ALIGN="center"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></TD>
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<TD VALIGN="top" ALIGN="center">February&nbsp;21, 2019</TD>
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<TD VALIGN="top" ALIGN="center"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></TD></TR>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">TELEPHONE: (919) <FONT STYLE="white-space:nowrap">821-1220</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">FACSIMILE: (919) <FONT STYLE="white-space:nowrap">821-6800</FONT></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>VIA EDGAR AND FEDEX </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Jeffrey Gabor </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">United States Securities and Exchange
Commission </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Corporation Finance </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Office of
Healthcare&nbsp;&amp; Insurance </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F Street, N.E. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, D.C. 20549-6010 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>Re:</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Precision BioSciences, Inc. </B></P></TD></TR></TABLE>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>Amendment No.&nbsp;1 to Draft Registration Statement on Form <FONT STYLE="white-space:nowrap">S-1</FONT> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>Confidentially submitted December&nbsp;28, 2018 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>CIK No.&nbsp;0001357874 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear
Mr.&nbsp;Gabor: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On behalf of Precision BioSciences, Inc. (the &#147;<B>Company</B>&#148;), we submit this letter in response to comments
from the staff (the &#147;<B>Staff</B>&#148;) of the Securities and Exchange Commission (the &#147;<B>Commission</B>&#148;) contained in its letter dated February&nbsp;19, 2019 relating to the above-referenced Amendment No.&nbsp;1
(&#147;<B>Amendment No.</B><B></B><B>&nbsp;1</B>&#148;) to Confidential Draft Registration Statement on Form <FONT STYLE="white-space:nowrap">S-1</FONT> (the &#147;<B>Registration Statement</B>&#148;). In this letter, we have recited the comments
from the Staff in bold type and have followed each comment with the Company&#146;s response. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition, the Company is hereby
confidentially submitting an amendment to the Registration Statement (&#147;<B>Amendment No.</B><B></B><B>&nbsp;2</B>&#148;), which has been revised to reflect the Company&#146;s responses to the comments from the Staff and certain other changes
that are intended to update, clarify and render complete the information contained in the Registration Statement. For the Staff&#146;s convenience, we are also sending, by FedEx, copies of this letter and marked copies of Amendment No.&nbsp;2
reflecting changes from the previously submitted Amendment No.&nbsp;1. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I><U>Our Foundation <FONT STYLE="white-space:nowrap">I-Cre1,</FONT> page 1
</U></I></B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>1.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>We note revisions in response to prior comment 2 in which you broadly cite &#147;scientific literature&#148;
and &#147;various third-party studies&#148; to support performance claims concerning <FONT STYLE="white-space:nowrap">I-Cre1.</FONT> Please revise your Business section to identify and discuss the literature and studies that you highlight in your
Summary. </B></P></TD></TR></TABLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>S<SMALL>MITH</SMALL>, A<SMALL>NDERSON</SMALL>, B<SMALL>LOUNT</SMALL>, D<SMALL>ORSETT</SMALL>,
M<SMALL>ITCHELL</SMALL>, &amp; J<SMALL>ERNIGAN</SMALL>, L.L.P. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">February 21, 2019 </P>
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 2
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><I>Response</I>: The Company respectfully advises the Staff that it has revised the
disclosure throughout Amendment No.&nbsp;2 to remove all statements supported by &#147;various third-party studies&#148; as the Company does not believe these statements are material or necessary for an investor to understand <FONT
STYLE="white-space:nowrap">I-CreI</FONT> and the foundation of its ARCUS technology. The Company respectfully advises the Staff that, to support the remaining performance claims concerning <FONT STYLE="white-space:nowrap">I-CreI</FONT> in the
Registration Statement, it has relied on its knowledge of genome editing and numerous third-party scientific publications. The Company believes these statements are widely-held views across the scientific community and the third-party scientific
publications support this belief and the Company&#146;s characterization of <FONT STYLE="white-space:nowrap">I-CreI.</FONT> Accordingly, the Company does not believe the specific reference and discussion of any particular publication is meaningful
to an investor to understand the ARCUS technology. The Company is supplementally providing to the Staff under separate cover a copy of the relevant portions of such third-party scientific publications. To expedite the Staff&#146;s review, the
Company has marked one such document, which is a summary of the scientific literature in this field, so that the Staff can easily locate and review the relevant statements as a sample of the supporting scientific literature. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I><U>Food and Agriculture, page 4 </U></I></B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>2.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>We refer to prior comments 1 and 6 and note your revised disclosure on page 4 indicating that you have
&#147;successfully&#148; edited a variety of plant species. Please revise to clarify how you measure editing success in the context of food and agriculture (</B><B><I>e.g.</I></B><B>, safety, nutrition, flavor). Given that you have not conducted
field testing, please tell us the basis you have to make this performance claim. In addition, please revise this section of the Summary to clarify that you have not commercialized any food and agriculture products to date and to explain that you
must undertake field testing prior to commercializing any such products. Also revise to explain briefly the term <FONT STYLE="white-space:nowrap">&#147;pre-breeding</FONT> material.&#148; </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><I>Response</I>: In response to the Staff&#146;s comment, the Company has revised the disclosure on pages&nbsp;4 and 109 of Amendment
No.&nbsp;2. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I><U>Our amended and restated certificate of incorporation provides that the Court of Chancery&#133;, page 77 </U></I></B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>3.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>We note that your forum selection provision identifies the Court of Chancery of the State of Delaware as the
exclusive forum for certain litigation, including any &#147;derivative action.&#148; Please disclose whether this provision applies to actions arising under the federal securities laws. Also ensure that the exclusive forum provision in your proposed
organizational documents states this clearly. In this regard, we note that Section&nbsp;27 of the Exchange Act creates exclusive federal jurisdiction over all suits brought to enforce any duty or liability created by the Exchange Act or the rules
and regulations thereunder. </B></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><I>Response</I>: In response to the Staff&#146;s comment, the Company has revised the
disclosure on pages&nbsp;77 and 187 of Amendment No.&nbsp;2 to disclose that the exclusive forum provision of its amended and restated certificate of incorporation will apply to the fullest extent permitted by law and will not apply to claims which
are vested in the exclusive jurisdiction of a court or forum other than the Court of Chancery of the State of Delaware, or for which the Court of Chancery of the State of Delaware does not have subject matter jurisdiction, including suits brought to
enforce any liability or duty created by the Exchange Act or the rules and regulations thereunder. The Company also confirms to the Staff that its amended and restated certificate of incorporation will state this clearly. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>S<SMALL>MITH</SMALL>, A<SMALL>NDERSON</SMALL>, B<SMALL>LOUNT</SMALL>, D<SMALL>ORSETT</SMALL>,
M<SMALL>ITCHELL</SMALL>, &amp; J<SMALL>ERNIGAN</SMALL>, L.L.P. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">February 21, 2019 </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I><U>Notes to consolidated financial statements </U></I></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I><U>Note 13: Collaboration and license agreements, page <FONT STYLE="white-space:nowrap">F-26</FONT> </U></I></B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>4.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>We acknowledge your response to the third bullet of prior comment&nbsp;20. The disclosure of the potential
receipt of an aggregate $1.6&nbsp;billion in milestones under the Servier agreement does not provide financial statement users with any information to assess the likelihood of receipt or the potential timing of receipt. As a result, please revise
your disclosure to aggregate your potential milestones into subcategories based on the nature of the underlying milestones. For example, aggregation by early-stage development, late-stage development, regulatory submission, regulatory approval and
sales-based milestones appear to be reasonable and appropriate. </B></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><I>Response</I>: In response to the Staff&#146;s
comment, the Company has revised the disclosure throughout Amendment No.&nbsp;2 to aggregate potential milestones into subcategories based on whether such milestone payments are based on the achievement of development or commercial milestones. The
Company respectfully submits that this disclosure is consistent with <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">ASC&nbsp;605-28-50-2(b)</FONT></FONT></FONT> as it describes the nature of the
underlying milestones and the related contingent consideration, provides the most useful presentation to investors based on the types of milestones included in the agreement, and is sufficiently disaggregated such that further subcategories of
milestones would not provide material additional information to investors. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I><U>Condensed consolidated statements of changes in stockholders&#146;
equity (deficit) (Unaudited), page <FONT STYLE="white-space:nowrap">F-34</FONT> </U></I></B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>5.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Please revise your submission to provide the comparable interim information for 2017 as required by <FONT
STYLE="white-space:nowrap">Rule&nbsp;8-03(a)(5)</FONT> of <FONT STYLE="white-space:nowrap">Regulation&nbsp;S-X.</FONT> </B></P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><I>Response</I>: The Company respectfully advises the Staff that the Registration Statement has been updated to include the Company&#146;s
annual financial statements for the year ended December&nbsp;31, 2018. Accordingly, interim financial statements are no longer included or required.</P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I><U>Notes to unaudited condensed consolidated financial statements </U></I></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I><U>Note 9: Collaboration and license agreements </U></I></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I><U>Collaboration and license agreement with Gilead, page <FONT STYLE="white-space:nowrap">F-45</FONT> </U></I></B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>6.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Please revise your disclosure to clearly identify each deliverable and separate unit of accounting, the
arrangement consideration allocated to each separate unit of accounting and how you will account for each. See
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">ASC&nbsp;605-25-50-2.</FONT></FONT></FONT> Also, disclose aggregate milestone consideration to be received by subcategories based on the nature of the
underlying milestones consistent with the comment above on your Servier agreement. Refer to <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">ASC&nbsp;605-28-50-2.</FONT></FONT></FONT>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>S<SMALL>MITH</SMALL>, A<SMALL>NDERSON</SMALL>, B<SMALL>LOUNT</SMALL>, D<SMALL>ORSETT</SMALL>,
M<SMALL>ITCHELL</SMALL>, &amp; J<SMALL>ERNIGAN</SMALL>, L.L.P. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">February 21, 2019 </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><I>Response</I>: In response to the Staff&#146;s comment, the Company has revised the
disclosure on pages <FONT STYLE="white-space:nowrap">F-31</FONT> and F-32 of Amendment No.&nbsp;2 to clearly identify each deliverable and separate unit of accounting, the arrangement consideration allocated to each separate unit of accounting and
how the Company will account for each. Consistent with the Company&#146;s response to Comment&nbsp;4, the Company has revised the disclosure on <FONT STYLE="white-space:nowrap">page&nbsp;F-31</FONT> of Amendment No.&nbsp;2 to aggregate potential
milestones into subcategories based on whether such milestone payments are based on the achievement of development or commercial milestones. The Company respectfully submits that this disclosure is consistent with <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">ASC&nbsp;605-28-50-2(b)</FONT></FONT></FONT> as it describes the nature of the underlying milestones and the related contingent consideration, provides the most useful presentation to
investors based on the types of milestones included in the agreement, and is sufficiently disaggregated such that further subcategories of milestones would not provide material additional information to investors. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">* * * * * </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If we can be of
further assistance in facilitating your review of the above response, please do not hesitate to contact me at <FONT STYLE="white-space:nowrap">(919)&nbsp;821-6619</FONT> or Nathan Ajiashvili at
<FONT STYLE="white-space:nowrap">(212)&nbsp;906-2916.</FONT> </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>S<SMALL>MITH</SMALL>, A<SMALL>NDERSON</SMALL>, B<SMALL>LOUNT</SMALL>, D<SMALL>ORSETT</SMALL>,
M<SMALL>ITCHELL</SMALL>, &amp; J<SMALL>ERNIGAN</SMALL>, L.L.P. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">February 21, 2019 </P>
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<TD VALIGN="top" COLSPAN="3">Sincerely yours,</TD></TR>
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<TD VALIGN="top" COLSPAN="3">SMITH, ANDERSON, BLOUNT, DORSETT,</TD></TR>
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<TD VALIGN="top">MITCHELL&nbsp;&amp; JERNIGAN, L.L.P.</TD></TR>
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<TD VALIGN="top">By:</TD>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Heyward D. Armstrong</P></TD></TR>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Heyward D. Armstrong</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Enclosures </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top">cc:</TD>
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<TD VALIGN="top">Matthew Kane, Precision BioSciences, Inc.</TD></TR>
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<TD VALIGN="top">Abid Ansari, Precision BioSciences, Inc.</TD></TR>
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<TD VALIGN="top">Michael P. Saber, Smith, Anderson, Blount, Dorsett, Mitchell&nbsp;&amp; Jernigan, L.L.P.</TD></TR>
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<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Amy M. Batten, Smith, Anderson, Blount, Dorsett, Mitchell&nbsp;&amp; Jernigan, L.L.P.</TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Peter N. Handrinos, Latham&nbsp;&amp; Watkins LLP</TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Nathan Ajiashvili, Latham&nbsp;&amp; Watkins LLP</TD></TR>
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<TD VALIGN="top">Divakar Gupta, Cooley LLP</TD></TR>
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<TD VALIGN="top">Darren DeStefano, Cooley LLP</TD></TR>
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