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Mar 31, 2025
Precigen Q1 2025 Earnings Report
Precigen reported its first quarter 2025 financial results, showing a net loss of $54.2 million and a decrease in total assets.
Key Takeaways
Precigen reported a net loss of $54.2 million for the first quarter of 2025, compared to a net loss of $23.7 million in the same period last year. Total revenues increased to $1.341 million, up from $1.065 million in Q1 2024, primarily due to increased product and service volumes. The company's cash, cash equivalents, and investments totaled $81.0 million as of March 31, 2025, anticipated to fund operations into 2026.
Net loss for Q1 2025 was $54.2 million, an increase from $23.7 million in Q1 2024.
Total revenues increased by 26% to $1.341 million in Q1 2025, driven by higher product and service sales.
Cash, cash equivalents, and investments stood at $81.0 million as of March 31, 2025, expected to cover operations into 2026.
Research and development expenses decreased by 27% to $10.478 million, while selling, general and administrative expenses increased by 22% to $12.359 million.
Revenue by Segment
Forward Guidance
Precigen anticipates continued progress with its PRGN-2012 program, with a PDUFA target action date set for August 27, 2025. The company expects its cash runway to extend into 2026, beyond the potential 2025 commercial launch of PRGN-2012.
Positive Outlook
- BLA for PRGN-2012 under priority review by FDA with PDUFA target action date of August 27, 2025.
- FDA not currently planning to hold an advisory committee meeting for PRGN-2012 BLA.
- Cash, cash equivalents, and investments of $81.0 million anticipated to fund operations into 2026.
- Rapid advancement of commercial and manufacturing readiness for PRGN-2012.
- PRGN-2012 pivotal study successfully met primary safety and pre-specified primary efficacy endpoints.
Challenges Ahead
- No specific negative forward guidance was provided in the report.
- The company's actual results could differ materially from forward-looking statements due to risks and uncertainties.
- The company has no obligation to provide updates to forward-looking statements.
Revenue & Expenses
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