Precigen, Inc. Files 10-Q for Q1 2024

TL;DR

<b>Precigen, Inc. filed its Q1 2024 10-Q report on May 14, 2024, detailing financial performance for the quarter ending March 31, 2024.</b>

AI Summary

PRECIGEN, INC. (PGEN) filed a Quarterly Report (10-Q) with the SEC on May 14, 2024. Precigen, Inc. reported its Q1 2024 financial results on May 14, 2024. The filing covers the period ending March 31, 2024. The company's former name was Intrexon Corp, with a name change date of March 13, 2006. Precigen, Inc. is incorporated in Virginia (VA). The company's primary SIC code is Pharmaceutical Preparations [2834].

Why It Matters

For investors and stakeholders tracking PRECIGEN, INC., this filing contains several important signals. This 10-Q filing provides an update on Precigen's financial health and operational performance for the first quarter of 2024, crucial for investors assessing recent business trends. Understanding the segment performance and key financial metrics in this report is vital for evaluating the company's strategic direction and market position in the pharmaceutical preparations industry.

Risk Assessment

Risk Level: medium — PRECIGEN, INC. shows moderate risk based on this filing. The company operates in the pharmaceutical preparations industry, which is subject to significant regulatory oversight and market competition, as indicated by its SIC code [2834].

Analyst Insight

Investors should review the detailed financial statements and segment performance in the 10-Q to understand revenue drivers and potential growth areas for Precigen.

Revenue Breakdown

Key Numbers

• 2024-03-31 — Reporting Period End Date (Conformed period of report)
• 2024-05-14 — Filing Date (Filed as of date)
• 001-36042 — SEC File Number (SEC file number)

Key Players & Entities

• PRECIGEN, INC. (company) — Filer name
• PGEN (company) — Ticker symbol
• Intrexon Corp (company) — Former company name
• 20374 SENECA MEADOWS PARKWAY (location) — Business address
• Germantown, MD 20876 (location) — Business address
• 2834 (industry) — Standard Industrial Classification

FAQ

Risk Factors

• Regulatory Oversight [medium — regulatory]: The company operates in the pharmaceutical preparations industry, which is subject to extensive regulatory scrutiny.
• Market Competition [medium — market]: The pharmaceutical sector is highly competitive, requiring continuous innovation and market adaptation.

Key Dates

• 2024-03-31: Quarterly Period End — End of the first fiscal quarter of 2024.
• 2024-05-14: Filing Date — Date the 10-Q report was filed with the SEC.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides an update on the company's financial performance and condition for the quarter.)

Filing Documents

• pgen-20240331.htm (10-Q) — 924KB
• pgen-20240331xexx311.htm (EX-31.1) — 10KB
• pgen-20240331xexx312.htm (EX-31.2) — 10KB
• pgen-20240331xexx321.htm (EX-32.1) — 6KB
• pgen-20240331xexx322.htm (EX-32.2) — 6KB
• 0001356090-24-000010.txt (&nbsp;) — 5630KB
• pgen-20240331.xsd (EX-101.SCH) — 45KB
• pgen-20240331_cal.xml (EX-101.CAL) — 72KB
• pgen-20240331_def.xml (EX-101.DEF) — 185KB
• pgen-20240331_lab.xml (EX-101.LAB) — 515KB
• pgen-20240331_pre.xml (EX-101.PRE) — 365KB
• pgen-20240331_htm.xml (XML) — 687KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION 1. Condensed Consolidated Financial Statements (unaudited): 4 Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 4 Condensed Consolidated Statements of Operations for the Three Months Ended March 31, 2024 and 2023 6 Condensed Consolidated Statements of Comprehensive Loss for the Three Months Ended March 31, 2024 and 2023 7 Condensed Consolidated Statements of Shareholders' Equity for the Three Months Ended March 31, 2024 and 2023 8 Condensed Consolidated Statements of Cash Flows for the three Months Ended March 31, 2024 and 2023 10 Notes to the Condensed Consolidated Financial Statements 12 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 25 3. Quantitative and Qualitative Disclosures About Market Risk 34 4. Controls and Procedures 35

- OTHER INFORMATION

PART II - OTHER INFORMATION 1. Legal Proceedings 36 1A. Risk Factors 36 2. Unregistered Sales of Equity Securities and Use of Proceeds 36 3. Defaults on Senior Securities 36 4. Mine Safety Disclosures 36 5. Other Information 36 6. Exhibits 37

Signatures

Signatures 38 Precigen , AdenoVerse , UltraCAR-T , RheoSwitch , UltraVector , RTS , UltraPorator , ActoBiotics and RheoSwitch Therapeutic System are our and/or our affiliates' registered trademarks in the United States and GenVec, ActoBio Therapeutics, AttSite, and Precigen Therapeutics are our and/or our affiliates' common law trademarks in the United States are our and/or our affiliates' common law trademarks in the United States. This Quarterly Report on Form 10-Q, or Quarterly Report, and the information incorporated herein by reference contain references to trademarks, service marks, and trade names owned by us or other companies. Solely for convenience, trademarks, service marks, and trade names referred to in this Quarterly Report and the information incorporated herein, including logos, artwork, and other visual displays, may appear without the or symbols, but such references are not intended to indicate, in any way, that we will not assert, to the fullest extent under applicable law, our rights or the rights of the applicable licensor to these trademarks, service marks, and trade names. We do not intend our use or display of other companies' trade names, service marks, or trademarks to imply a relationship with, or endorsement or sponsorship of us by, any other companies. Other trademarks, trade names, and service marks appearing in this Quarterly Report are the property of their respective owners. Unless the context requires otherwise, references in this Quarterly Report to "Precigen", "we", "us", and "our" refer to Precigen, Inc. 2 Table of Contents Special Note Regarding Forward-Looking Statements This Quarterly Report contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which statements involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this Quarterly Report, including statements regarding our strategy; future events, incl

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Condensed Consolidated Financial Statements

Item 1. Condensed Consolidated Financial Statements Precigen, Inc. and Subsidiaries Condensed Consolidated Balance Sheets (Unaudited) (Amounts in thousands, except share data) March 31, 2024 December 31, 2023 Assets Current assets Cash and cash equivalents $ 17,478 $ 7,578 Short-term investments 27,280 55,277 Receivables Trade, less allowance for credit losses of $ 0 and $ 184 as of March 31, 2024 and December 31, 2023 872 902 Other 290 673 Prepaid expenses and other 3,626 4,325 Total current assets 49,546 68,755 Property, plant and equipment, net 12,620 7,111 Intangible assets, net 38,717 40,701 Goodwill 26,555 26,612 Right-of-use assets 6,658 7,097 Other assets 751 767 Total assets $ 134,847 $ 151,043 The accompanying notes are an integral part of these condensed consolidated financial statements. 4 Table of Contents Precigen, Inc. and Subsidiaries Condensed Consolidated Balance Sheets (Unaudited) (Amounts in thousands, except share data) March 31, 2024 December 31, 2023 Liabilities and Shareholders' Equity Current liabilities Accounts payable $ 4,716 $ 1,726 Accrued compensation and benefits 9,962 8,250 Other accrued liabilities 7,296 6,223 Settlement and indemnification accruals 5,075 5,075 Deferred revenue 407 509 Current portion of lease liabilities 1,318 1,202 Total current liabilities 28,774 22,985 Deferred revenue, net of current portion 1,888 1,818 Lease liabilities, net of current portion 5,387 5,895 Deferred tax liabilities 1,779 1,847 Total liabilities 37,828 32,545 Commitments and contingencies (Note 13) Shareholders' equity Common stock, no par value, 400,000,000 shares authorized as of March 31, 2024 and December 31, 2023; 256,398,527 shares issued as of March 31, 2024 and December 31, 2023, 250,248,808 shares and 248,919,096 shares outstanding as of March 31, 2024 and December 31, 2023, respectively. — — Additional paid-in capital 2,088,025 2,084,916 Accumulated deficit ( 1,988,209 ) (

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View this 10-Q filing on SEC EDGAR