05:30 PM EDT, 04/16/2024 (MT Newswires) -- Precision BioSciences ( DTIL ) said late Tuesday it exercised the option to regain rights for three programs following Eli Lilly ( LLY ) unit Prevail Therapeutics' decision to conclude a gene-editing collaboration between the companies.

Precision said it is weighing opportunities to develop the programs independently or with new parners, citing the "strong" proof-of-concept data generated so far.

The company said regaining the programs doesn't affect its near-term clinical priorities in ornithine transcarbamylase deficiency, HBV and PMM, or its projected cash runway to achieve clinical data milestones.

Precision shares fell 2.9% in after-hours activity.