Precigen Q3 2022 Earnings Report
Key Takeaways
Precigen reported increased total revenues driven by collaboration and licensing agreements, offset by a decrease in product and service revenues. The company's loss from continuing operations improved compared to the prior year. Precigen also retired $144.0 million of convertible notes, strengthening its financial position.
Total revenues increased by $13.4 million, or greater than 200%, compared to the third quarter of 2021.
Collaboration and licensing revenues increased by $14.5 million due to revenue recognition from previously deferred agreements.
The company retired $144.0 million of outstanding convertible notes due in July 2023, resulting in $5.4 million in savings.
Cash, cash equivalents, short-term investments and restricted cash totaled $153.8 million as of September 30, 2022
Precigen
Precigen
Forward Guidance
Precigen believes its cash runway is sufficient to advance its clinical priorities into Q4 2023.