Precigen(PGEN)

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Precigen(PGEN) - 2024 Q3 - Quarterly Results
2024-11-14 21:47
Regulatory and Clinical Developments - Precigen completed a pre-BLA meeting with the FDA and is aligned on the content for the BLA submission for PRGN-2012, expected in Q4 2024[1] - The pivotal clinical study for PRGN-2012 showed that 51% of patients achieved a Complete Response, with a median follow-up duration of 20 months[5] - The company is preparing for an end of Phase 1b meeting with the FDA for PRGN-3006 in AML in early 2025[1] Financial Performance - Total revenues decreased by $0.4 million, or 31%, compared to the same period in 2023, primarily due to reductions in product and service revenues at Exemplar[20] - Net loss for Q3 2024 was $24.0 million, or $(0.09) per share, compared to a net loss of $19.8 million, or $(0.08) per share, in Q3 2023[20] - Total revenues for Q3 2024 were $953,000, a decrease of 30.8% compared to $1,379,000 in Q3 2023[30] - Product revenues in Q3 2024 were $66,000, down from $82,000 in Q3 2023, representing a decline of 19.5%[30] - Service revenues decreased to $886,000 in Q3 2024 from $1,296,000 in Q3 2023, a drop of 31.6%[30] - The net loss for Q3 2024 was $23,978,000, compared to a net loss of $19,795,000 in Q3 2023, reflecting an increase in losses of 11.0%[30] - The accumulated deficit increased to $(2,070,979,000) as of September 30, 2024, from $(1,964,471,000) at the end of 2023[29] Expenses and Liabilities - Research and development expenses increased by $5.7 million, or 16%, compared to the nine months ended September 30, 2023, driven by costs associated with PRGN-2012[22] - SG&A expenses increased by $0.6 million, or 7%, in Q3 2024, attributed to increased focus on PRGN-2012 and severance costs from workforce reduction[17] - Total operating expenses for Q3 2024 were $22,215,000, slightly down from $22,316,000 in Q3 2023[30] - Current liabilities decreased slightly to $21,216,000 from $22,985,000 at the end of 2023[29] Asset Management - Cash and cash equivalents rose to $24,725,000 as of September 30, 2024, compared to $7,578,000 at the end of 2023[29] - Total assets decreased to $83,474,000 as of September 30, 2024, down from $151,043,000 at the end of 2023[29] - The weighted average shares outstanding increased to 275,881,170 in Q3 2024 from 248,520,724 in Q3 2023[30] Strategic Initiatives - Precigen's UltraCAR-T platform is positioned to potentially be best-in-class for CD19-targeting treatments in oncology and autoimmune diseases[2] - The company is exploring various financing options, including strategic partnerships, to support the commercialization of PRGN-2012[2] - The company recorded $34.5 million in impairment charges related to goodwill and long-lived assets due to the suspension of ActoBio's operations[24]
Precigen Reports Third Quarter 2024 Financial Results and Business Updates
Prnewswire· 2024-11-14 21:30
– Completed pre-BLA meeting with FDA with full alignment on content of BLA, including CMC module, and path for fourth quarter 2024 rolling BLA submission for PRGN-2012† in RRP under accelerated approval pathway –– Commercial and manufacturing readiness campaign underway for PRGN-2012 in anticipation of a potential 2025 launch –– Confirmatory clinical trial for PRGN-2012 in RRP was initiated in accordance with guidance from FDA to initiate prior to submission of the BLA; continuing enrollment –– Prep ...
Precigen to Participate in the Stifel 2024 Healthcare Conference
Prnewswire· 2024-11-12 21:05
GERMANTOWN, Md., Nov. 12, 2024 /PRNewswire/ -- Precigen, Inc. (Nasdaq: PGEN), a biopharmaceutical company specializing in the development of innovative gene and cell therapies to improve the lives of patients, today announced Helen Sabzevari, PhD, President and CEO of Precigen, will participate in a fireside chat on Tuesday, November 19, 2024 from 10:55 to 11:25 AM ET at the Stifel 2024 Healthcare Conference taking place November 18 to 19, 2024 in New York.Event details can be found on Precigen's website in ...
Precigen to Participate in the 2024 Cantor Global Healthcare Conference
Prnewswire· 2024-09-16 20:30
GERMANTOWN, Md., Sept. 16, 2024 /PRNewswire/ -- Precigen, Inc. (Nasdaq: PGEN), a biopharmaceutical company specializing in the development of innovative gene and cell therapies to improve the lives of patients, today announced that Helen Sabzevari, PhD, President and CEO of Precigen, will participate in a fireside chat on Wednesday, September 18, 2024 from 9:45 to 10:15 AM ET at the 2024 Cantor Global Healthcare Conference taking place September 17 to 19, 2024 in New York. Participants may view details for ...
Precigen, Inc. (PGEN) Reports Q2 Loss, Misses Revenue Estimates
ZACKS· 2024-08-14 22:31
Precigen, Inc. (PGEN) came out with a quarterly loss of $0.10 per share versus the Zacks Consensus Estimate of a loss of $0.09. This compares to loss of $0.08 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of -11.11%. A quarter ago, it was expected that this company would post a loss of $0.09 per share when it actually produced a loss of $0.10, delivering a surprise of -11.11%. Over the last four quarters, the company has not be ...
Precigen Reports Second Quarter and First Half 2024 Financial Results and Business Updates
Prnewswire· 2024-08-14 20:05
– In June 2024, the Company announced groundbreaking pivotal study data for PRGN-2012 gene therapy at the 2024 ASCO annual meeting in which more than half of RRP patients achieved Complete Response – – In July 2024, the Company appointed Phil Tennant as Chief Commercial Officer to spearhead potential PRGN-2012 commercial launch – – In August 2024, the Company announced a strategic reprioritization of its pipeline to focus on advancement of its lead program, PRGN-2012 in RRP – – PRGN-2012 rolling BLA submiss ...
Precigen to Announce Second Quarter and First Half 2024 Financial Results on August 14th
Prnewswire· 2024-08-09 12:00
GERMANTOWN, Md., Aug. 9, 2024 /PRNewswire/ -- Precigen, Inc. (Nasdaq: PGEN), a biopharmaceutical company specializing in the development of innovative gene and cell therapies to improve the lives of patients, today announced the Company will release second quarter and first half 2024 financial results and provide business updates on Wednesday, August 14, 2024. The Company will host a conference call that day at 4:30 PM ET to discuss financial results and provide a general business update. The conference cal ...
Precigen Announces Pricing of $30.0 Million Public Offering of Common Stock
Prnewswire· 2024-08-08 01:30
GERMANTOWN, Md., Aug. 7, 2024 /PRNewswire/ -- Precigen, Inc. (Nasdaq: PGEN) today announced the pricing of an underwritten public offering of 35,294,118 shares of its common stock at a public offering price of $0.85 per share. Precigen has also granted the underwriters a 30-day option to purchase up to an additional 5,294,117 shares of its common stock. Gross proceeds from the offering, before deducting underwriting discounts and commissions and estimated offering expenses, are expected to be approximately ...
Earnings Preview: Precigen, Inc. (PGEN) Q2 Earnings Expected to Decline
ZACKS· 2024-08-07 15:06
Wall Street expects a year-over-year decline in earnings on lower revenues when Precigen, Inc. (PGEN) reports results for the quarter ended June 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates. The earnings report might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock ...
Precigen Appoints Phil Tennant as Chief Commercial Officer to Spearhead First Potential Gene Therapy Launch
Prnewswire· 2024-07-23 12:01
GERMANTOWN, Md., July 23, 2024 /PRNewswire/ -- Precigen, Inc. (Nasdaq: PGEN), a biopharmaceutical company specializing in the development of innovative gene and cell therapies to improve the lives of patients, today announced the appointment of Phil Tennant as the Company's chief commercial officer. Mr. Tennant will be responsible for commercial strategy and execution across US and global markets. His initial focus will be on driving commercial readiness activities for the potential launch of the first- and ...