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Dec 31, 2019
Precigen Q4 2019 Earnings Report
Precigen reported a net loss of $169.2 million and revenues of $17.0 million from continuing operations.
Key Takeaways
Precigen reported Q4 2019 financial results, featuring revenues of $17.0 million from continuing operations and a net loss of $169.2 million, which includes $95.7 million from discontinued operations and $33.8 million in non-cash charges. The company highlighted strategic transactions aimed at focusing on healthcare and completed asset sales and stock offerings to improve its financial position.
Appointed Helen Sabzevari as President and CEO and Randal J. Kirk as Executive Chairman.
Changed company name to Precigen, Inc. and Nasdaq stock symbol to PGEN.
Closed asset sales for $65.2 million and sold $35 million of common stock.
FDA granted orphan drug designation to PRGN-3006 for AML and MDS.
Precigen
Precigen
Precigen Revenue by Segment
Revenue by Segment
Product revenues Revenue
CapyFin.comService revenues Revenue
CapyFin.comOther revenues Revenue
CapyFin.com Forward Guidance
Precigen is confident that it will make important advances this year and that its cash resources are sufficient to deliver on several value-creating milestones during the year across its clinical pipeline. It is also focused on aligning its portfolio, streamlining operations and maximizing organizational structures to improve operational efficiency going forward.
Positive Outlook
- Advancing medicine with precision
- Next generation of gene and cell therapies
- Precision technology to target urgent and intractable diseases
- Core therapeutic areas of immuno-oncology, autoimmune disorders, and infectious diseases
- Innovation engine progressing a preclinical and clinical pipeline of well-differentiated unique therapies toward clinical proof-of-concept and commercialization.
Challenges Ahead
- Forward-looking statements based on current expectations and projections
- Involve risks and uncertainties
- Actual future results may be materially different
- No obligation to provide any updates
- Expressly qualified in their entirety by cautionary statement
Revenue & Expenses
Visualization of income flow from segment revenue to net income