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Jun 30, 2022
Precigen Q2 2022 Earnings Report
Reported second quarter and first half 2022 financial results.
Key Takeaways
Precigen is focusing on maximizing the value of their highest priority assets and prioritizing capital allocation to reach critical inflection points in clinical trials. The sale of Trans Ova Genetics is expected to close in Q3 2022, providing $170 million in cash up-front and up to a $10 million earn-out over the next two years.
Expedited prioritized programs, rapidly progressing from Phase 1 dose escalations to 1b expansions and have already initiated Phase 2 studies for several programs.
Actively pursuing rapid regulatory strategies for licensure to bring potential investigational therapies to patients as quickly as possible.
Expect additional data this year and early next for prioritized programs, particularly excited for the Phase 1 data presentation for the PRGN-2012 AdenoVerse study in Q4 2022.
The transaction to sell Trans Ova Genetics, which is expected to close in Q3 2022, will provide Precigen with $170 million in cash up-front and up to a $10 million earn-out over the next two years.
Forward Guidance
Cash on hand and cost reduction initiatives give enough runway to advance clinical priorities into Q4 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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