Precigen Q2 loss from cont. ops $26.1M; divests Trans Ova Genetics for $170M

PRECIGEN, INC.

2022-Q2 EPS reported -$0.18 revenue$8,424,000

Loss from continuing ops $26.1M ($0.13 loss per share) vs $30.9M loss in Q2 2021.
Total revenues down 24% YoY; SG&A decreased 15%.
Agreed to sell Trans Ova Genetics to URUS for $170M cash upfront plus up to $10M earn-out; close expected Q3 2022.
Cash and investments $132.8M as of June 30, 2022; proceeds intended to pay convertible notes due July 2023.
Believes cash plus cost reductions provide runway into Q4 2023.

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