Precigen Inc Stock Price, News & Analysis

Precigen, Inc. (Nasdaq: PGEN) has appointed Rutul R. Shah as Chief Operating Officer (COO), effective October 1, 2022. Shah, who joined the company in 2014, will oversee strategic management of the company’s portfolio to enhance operational efficiency. With over 17 years in the biopharmaceutical industry, he brings significant expertise in gene and cell therapies. Precigen focuses on innovative treatments in immuno-oncology and other areas, aiming to advance its clinical pipeline. The company, led by President and CEO Helen Sabzevari, emphasizes a commitment to precision medicine.

Precigen, a biopharmaceutical company focused on gene and cell therapies, announced that its President and CEO, Helen Sabzevari, will participate in a fireside chat at the 2022 Wells Fargo Healthcare Conference in Boston, Massachusetts. The event is scheduled for September 7, 2022, at 11:35 AM ET. Precigen aims to improve patient lives through innovative therapies targeting urgent diseases, including areas like immuno-oncology and autoimmune disorders. More details regarding the conference can be found on their official website.

Precigen (Nasdaq: PGEN) announced the sale of its non-healthcare subsidiary, Trans Ova Genetics, for $170 million in upfront cash, plus an additional $10 million contingent on performance over the next two years. The proceeds will be utilized to pay senior convertible notes, aiming to enhance the company's financial position. This strategic move reflects Precigen's focus on its core operations in gene and cell therapies, enhancing shareholder value while streamlining its business portfolio.

Precigen (Nasdaq: PGEN) announced the completion of multiple Phase 1 clinical trials for its UltraCAR-T and AdenoVerse™ therapies, aimed at treating various cancers and conditions. A significant financial move includes the agreement to sell its subsidiary Trans Ova Genetics for $170 million, enhancing its balance sheet. As of June 30, 2022, Precigen reported cash reserves of $132.8 million. For the second quarter, total revenues fell 24%, leading to a loss from continuing operations of $26.1 million. However, the company remains optimistic, citing progress in key clinical programs and expected data presentations.

Precigen (Nasdaq: PGEN) will announce its second quarter and first half 2022 financial results after market close on August 8, 2022. A conference call is scheduled for 4:30 PM ET the same day to discuss these results and provide a business update. The company specializes in gene and cell therapies targeting immuno-oncology and other diseases. Precigen aims to innovate affordable biotherapeutics and advance its clinical pipeline.

Precigen has announced a definitive agreement to sell its non-healthcare subsidiary, Trans Ova Genetics, to URUS for $170 million in upfront cash, plus up to $10 million in earn-outs over two years. The sale aims to solidify Precigen's balance sheet, allowing payment of senior convertible notes due in July 2023. This divestiture aligns with Precigen's strategy to focus exclusively on healthcare, enhancing the development of its gene and cell therapies for serious diseases.

Precigen, Inc. (Nasdaq: PGEN) announced that Dr. Helen Sabzevari, President and CEO, will join a virtual panel on June 30, 2022, at 1:00 PM ET during the Stifel 2022 Virtual Cell Therapy Summit. The discussion will focus on Targeted T Cell Therapies, including CAR T and TCR therapies. Precigen specializes in gene and cell therapies aimed at treating urgent diseases in immuno-oncology, autoimmune disorders, and infectious diseases. More details about the event can be found on Precigen's website.

Precigen, Inc. (Nasdaq: PGEN), a biopharmaceutical company, announced that Dr. Helen Sabzevari, President and CEO, will engage in a virtual fireside chat at the 2022 H.C. Wainwright Global Investment Conference on May 24, 2022, starting at 7:00 AM ET. Interested participants can register for the webcast via Precigen's website. The company focuses on innovative gene and cell therapies targeting serious diseases, including immuno-oncology, autoimmune disorders, and infectious diseases. For more details, visit their official site.

Precigen (Nasdaq: PGEN) announced significant developments in its clinical programs and financial performance for Q1 2022. The FDA granted Fast Track designation for PRGN-3006 UltraCAR-T®, aimed at treating relapsed or refractory acute myeloid leukemia (AML). The company initiated a Phase 1b expansion for this therapy and began dosing at Dose Level 3 in the PRGN-3005 UltraCAR-T® trial for ovarian cancer. Financial results showed a 31% increase in total revenues to $32.0 million, with cash reserves at $142.1 million. Losses from operations decreased to $19.3 million.