Precigen, Inc. Files Q2 2024 10-Q

TL;DR

Precigen's Q2 10-Q is in, check financials for latest performance update.

AI Summary

Precigen, Inc. filed its 10-Q for the period ending June 30, 2024, reporting on its financial performance. The company, formerly known as Intrexon Corp, is involved in pharmaceutical preparations. Specific financial figures for revenue, expenses, and net income/loss for the second quarter and year-to-date periods of 2024 and 2023 are detailed within the filing.

Why It Matters

This filing provides investors and stakeholders with an update on Precigen's financial health and operational performance for the second quarter of 2024, crucial for understanding the company's trajectory.

Risk Assessment

Risk Level: medium — As a company in the pharmaceutical preparations sector, Precigen faces inherent risks related to research, development, regulatory approvals, and market competition.

Key Players & Entities

• PRECIGEN, INC. (company) — Filer
• INTREXON CORP (company) — Former Company Name
• 20374 SENECA MEADOWS PARKWAY (location) — Business Address
• Germantown, MD (location) — Business Address City/State
• 20876 (location) — Business Address Zip
• 301-556-9900 (phone_number) — Business Phone
• 20240630 (date) — Period of Report
• 20240814 (date) — Filing Date

FAQ

Filing Documents

• pgen-20240630.htm (10-Q) — 1209KB
• pgen-20240630xexx311.htm (EX-31.1) — 10KB
• pgen-20240630xexx312.htm (EX-31.2) — 10KB
• pgen-20240630xexx321.htm (EX-32.1) — 6KB
• pgen-20240630xexx322.htm (EX-32.2) — 6KB
• 0001356090-24-000017.txt ( ) — 6667KB
• pgen-20240630.xsd (EX-101.SCH) — 44KB
• pgen-20240630_cal.xml (EX-101.CAL) — 73KB
• pgen-20240630_def.xml (EX-101.DEF) — 204KB
• pgen-20240630_lab.xml (EX-101.LAB) — 631KB
• pgen-20240630_pre.xml (EX-101.PRE) — 436KB
• pgen-20240630_htm.xml (XML) — 808KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION 1. Condensed Consolidated Financial Statements (unaudited): 4 Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 4 Condensed Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2024 and 2023 6 Condensed Consolidated Statements of Comprehensive Loss for the Three and Six Months Ended June 30, 2024 and 2023 7 Condensed Consolidated Statements of Shareholders' Equity for the Three and Six Months Ended June 30, 2024 and 2023 8 Condensed Consolidated Statements of Cash Flows for th e Six Months Ended June 30, 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 26 3. Quantitative and Qualitative Disclosures About Market Risk 37 4. Controls and Procedures 38

- OTHER INFORMATION

PART II - OTHER INFORMATION 1. Legal Proceedings 39 1A. Risk Factors 39 2. Unregistered Sales of Equity Securities and Use of Proceeds 40 3. Defaults on Senior Securities 40 4. Mine Safety Disclosures 40 5. Other Information 40 6. Exhibits 40

Signatures

Signatures 41 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) June 30, 2024 December 31, 2023 Assets Current assets Cash and cash equivalents $ 9,345 $ 7,578 Short-term investments 10,191 55,277 Receivables Trade, less allowance for credit losses of $ 0 and $ 184 as of June 30, 2024 and December 31, 2023 511 902 Other 505 673 Prepaid expenses 3,163 4,325 Total current assets 23,715 68,755 Property, plant and equipment, net 13,451 7,111 Intangible assets, net 5,091 40,701 Goodwill 24,918 26,612 Right-of-use assets 5,550 7,097 Other assets 435 767 Total assets $ 73,160 $ 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) June 30, 2024 December 31, 2023 Liabilities and Shareholders' Equity Current liabilities Accounts payable $ 4,846 $ 1,726 Accrued compensation and benefits 6,675 8,250 Other accrued liabilities 6,642 6,223 Settlement and indemnification accruals 3,213 5,075 Deferred revenue 378 509 Current portion of lease liabilities 1,269 1,202 Total current liabilities 23,023 22,985 Deferred revenue, net of current portion 1,818 1,818 Lease liabilities, net of current portion 5,072 5,895 Deferred tax liabilities 77 1,847 Total liabilities 29,990 32,545 Commitments and contingencies (Note 13) Shareholders' equity Common stock, no par value, 400,000,000 shares authorized as of June 30, 2024 and December 31, 2023; 256,398,527 shares issued as of June 30, 2024 and December 31, 2023, 252,656,151 shares and 248,919,096 shares outstanding as of June 30, 2024 and December 31, 2023, respectively. — — Additional paid-in capital 2,093,080 2,084,916 Accumulated deficit ( 2,047,001 ) ( 1,964,471 ) Accumul

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View this 10-Q filing on SEC EDGAR