Precigen Q4 2020 Earnings Report

Precigen reported financial results for the fourth quarter and full year 2020, highlighting clinical milestones, a successful public offering, streamlined operations, and reduced operating costs.

Key Takeaways

Precigen reported Q4 2020 revenues of $19.3 million compared to $17.0 million in Q4 2019. The net loss from continuing operations was $39.7 million, or $(0.22) per basic share, compared to a net loss of $64.2 million, or $(0.41) per basic share in Q4 2019. Cash, cash equivalents, and short-term investments totaled $100.1 million as of December 31, 2020.

Accomplished anticipated 2020 clinical milestones despite pandemic challenges.

Strengthened balance sheet with a successful public offering while streamlining operations and reducing operating costs.

Initial data readouts from PRGN-3005 and PRGN-3006 UltraCAR-T® clinical trials demonstrated encouraging expansion, persistence, and clinical activity.

A PRGN-3006 UltraCAR-T patient achieved complete remission with incomplete hematologic recovery (CRi) per ELN criteria.

Previous year: -$0.26

-15.4%

Gross Profit

$5.54M

Previous year: $1.59M