Precigen Q2 net loss widens to $58.8M; pivots to PRGN-2012 with BLA submission planned H2 2024

PRECIGEN, INC.

2024-Q2 EPS reported -$0.33

Q2 2024 net loss of $58.8M ($0.23/share) vs $20.3M loss a year ago; includes impairment charge of $32.9M.
Total revenues fell 59% YoY to approx $0.8M; R&D expenses rose 32% on severance and PRGN-2012 trial costs.
Strategic reprioritization focuses on PRGN-2012 BLA submission under accelerated path H2 2024; workforce reduced >20%.
Appointed Phil Tennant as CCO for potential PRGN-2012 commercial launch; raised $31.4M net in August public offering.
Cash runway expected into early 2025; ActoBio subsidiary shut down, IP portfolio available for sale.

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