Precigen reports $19.5M cash, $32.9M impairment, $30M offering, >20% workforce cut

PRECIGEN, INC.

Preliminary cash $19.5M at June 30, 2024; non-cash impairment charges ~$32.9M and severance ~$3.0M in Q2/Q3.
Strategic pivot to PRGN-2012 gene therapy; rolling BLA submission expected H2 2024; ActoBio subsidiary shutdown.
Commences $30M underwritten public offering (plus $4.5M option); expects net proceeds plus cash to fund ops into early 2025.
Workforce reduced >20%; PRGN-2009 non-NCI sites paused; UltraCAR-T programs paused except PRGN-3006; preclinical halted.
PRGN-2012 confirmatory trial initiated; commercial readiness led by new CCO; revenue not reported (pre-revenue stage).

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