Wed, May 14, 8:29 PM (61 days ago)
**Precigen, Inc. (PGEN) Q1 2025 Financial Summary** **Financial Health & Performance:** - **Revenue:** Total revenue increased by 26% to $1.34 million (Q1 2024: $1.07 million), driven by higher product sales and services at Exemplar. - **Operating Loss:** Operating loss narrowed by 7.4% to $22.6 million (Q1 2024: $24.4 million) due to reduced R&D expenses. - **Net Loss:** Net loss widened by 128.1% to $54.2 million (Q1 2024: $23.7 million), primarily due to a $32.5 million increase in the fair value of warrant liabilities. - **Cash Position:** Cash and cash equivalents decreased to $6.1 million (Q1 2024: $29.5 million). Total investments stood at $74.9 million. - **Cash Flow:** Net cash used in operating activities was $16.3 million (Q1 2024: $14.1 million used). **Profit Margins & Cash Flow:** - **Gross Margin:** Not explicitly stated, but cost of products and services slightly increased by 2.3%. - **Operating Margin:** Operating loss margin improved to -1,688% (Q1 2024: -2,387%). - **Cash Flow from Investing Activities:** Negative at $6.5 million (Q1 2024: Positive $24.0 million). - **Cash Flow from Financing Activities:** Negative at $0.7 million (Q1 2024: $0). **Earnings Changes & Trends:** - **Revenue Growth:** Positive trend in product and service revenues. - **Expense Management:** Successful reduction in R&D expenses by 27%, but increase in SG&A expenses by 22%. - **Warrant Liabilities:** Significant impact on net loss due to changes in fair value. **Future Operations & Uncertainties:** - **Liquidity:** Substantial doubt about the ability to continue as a going concern due to limited cash reserves and ongoing losses. - **Funding:** Plans to raise additional capital through equity offerings, debt, or strategic transactions. - **Regulatory:** Pending FDA approval for PRGN-2012, with a PDUFA target action date of August 27, 2025. - **Pipeline:** Focus on PRGN-2012 and strategic partnerships for UltraCAR-T programs. Paused enrollment in PRGN-3005 and PRGN-3007 clinical trials. **Key Metrics:** - **Current Ratio:** Not explicitly stated, but indicates potential liquidity issues. - **Debt-to-Equity:** Not explicitly stated, but implies a high equity component due to ongoing equity financings. - **Operating Cash Flow Margin:** Negative at -121% (Q1 2024: -132%). **Conclusion:** Precigen faces significant financial challenges, including substantial net losses and limited liquidity. The company is focusing on the regulatory approval of PRGN-2012 and strategic partnerships to advance its pipeline. However, the ability to continue operations depends on securing additional funding and achieving commercial success.