Precigen Q3 2023 Earnings Report
Key Takeaways
Precigen reported a decrease in total revenues by 92% compared to Q3 2022, alongside reductions in research and development and SG&A expenses. The company is focusing on advancing its lead asset, PRGN-2012, and managing its balance sheet through cost-saving measures and exploring non-dilutive capital opportunities.
Operating costs were reduced, and programs were actively reprioritized to enable commercial readiness for PRGN-2012.
The Phase 2 study of PRGN-2012 is anticipated to be completed in the second quarter of 2024.
The FDA's guidance indicates that the ongoing Phase 1/2 study of PRGN-2012 will serve as the pivotal study to support an accelerated approval request.
New data for AdenoVerse and UltraCAR-T platforms were published, building clinical evidence for their potential.
Precigen
Precigen
Forward Guidance
Precigen is focused on fiscal management and exploring new non-dilutive capital opportunities, including potential strategic partnerships, to maximize and extend their runway.