Precigen, Inc. ( (PGEN) ) has released its Q3 earnings. Here is a breakdown of the information Precigen, Inc. presented to its investors.
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Precigen, Inc. is a biopharmaceutical company focused on developing innovative gene and cell therapies for immuno-oncology, autoimmune disorders, and infectious diseases.
In its third-quarter 2024 financial report, Precigen highlighted significant progress in its gene therapy pipeline, particularly with PRGN-2012, a treatment for recurrent respiratory papillomatosis (RRP). The company is on track with the FDA for a rolling Biologics License Application submission, anticipating a potential 2025 launch.
Financially, the company reported a net loss of $24 million, an increase compared to the previous year, primarily due to increased expenses related to advancing PRGN-2012. Precigen’s strategic focus has led to cost reductions elsewhere, such as a decrease in research and development expenses for non-core programs.
Notably, Precigen is advancing its PRGN-3008 UltraCAR-T therapy, showcasing promising preclinical data for CD19-targeting in oncology and autoimmune diseases. The company continues exploring strategic partnerships to bolster its financial position.
Looking ahead, Precigen remains focused on fiscal management and strategic advancement of its key therapies, with planned discussions for future financing options to support its objectives.
