PRECIGEN INC

For the period ended Sep 30, 2024. Filed Nov 14, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2024 · Filed Nov 14, 2024

PGEN$4.52-4.4%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Balance Sheets as of and

Condensed Consolidated Balance Sheets

(Amounts in thousands, except share data)	September 30,2024	December 31,2023
Assets
Current assets
Cash and cash equivalents	$24,725	$7,578
Short-term investments	3,906	55,277
Receivables
Trade, less allowance for credit losses of $0 and $184 as of September 30, 2024 and December 31, 2023	479	902
Other	250	673
Prepaid expenses	5,153	4,325
Total current assets	34,513	68,755
Property, plant and equipment, net	13,538	7,111
Intangible assets, net	4,773	40,701
Goodwill	24,918	26,612
Right-of-use assets	5,307	7,097
Other assets	425	767
Total assets	$83,474	$151,043

Condensed Consolidated Balance Sheets

(Amounts in thousands, except share data)	September 30,2024	December 31,2023
Liabilities and Shareholders' Equity
Current liabilities
Accounts payable	$4,320	$1,726
Accrued compensation and benefits	6,612	8,250
Other accrued liabilities	5,676	6,223
Settlement and indemnification accruals	3,213	5,075
Deferred revenue	407	509
Current portion of lease liabilities	988	1,202
Total current liabilities	21,216	22,985
Deferred revenue, net of current portion	2,032	1,818
Lease liabilities, net of current portion	4,761	5,895
Deferred tax liabilities	89	1,847
Total liabilities	28,098	32,545
Commitments and contingencies (Note 13)
Shareholders' equity
Common stock, no par value, 400,000,000 shares authorized as of September 30, 2024 and December 31, 2023; 292,869,097 shares and 256,398,527 shares issued as of September 30, 2024 and December 31, 2023, respectively, 292,869,097 shares and 248,919,096 shares outstanding as of September 30, 2024 and December 31, 2023, respectively.	—	—
Additional paid-in capital	2,126,342	2,084,916
Accumulated deficit	(2,070,979)	(1,964,471)
Accumulated other comprehensive income (loss)	13	(1,947)
Total shareholders' equity	55,376	118,498
Total liabilities and shareholders' equity	$83,474	$151,043

Condensed Consolidated Statements of Operations

(Amounts in thousands, except share and per share data) · Three Months Ended September 30, · Nine Months Ended September 30,
2024 · 2023 · 2024 · 2023
Revenues
Product revenues	$66	$82	$235	$730
Service revenues	886	1,296	2,478	4,261
Other revenues	1	1	22	6
Total revenues	953	1,379	2,735	4,997
Operating Expenses
Cost of products and services	1,009	1,537	3,098	4,761
Research and development	11,370	11,583	41,312	35,620
Selling, general and administrative	9,836	9,196	30,293	30,150
Impairment of goodwill	—	—	1,630	—
Impairment of other noncurrent assets	—	—	32,915	—
Total operating expenses	22,215	22,316	109,248	70,531
Operating loss	(21,262)	(20,937)	(106,513)	(65,534)
Other Income (Expense), Net
Interest expense	(2)	(1)	(6)	(461)
Interest income	283	856	1,210	2,316
Other income (expense), net	(2,985)	281	(2,905)	705
Total other income (expense), net	(2,704)	1,136	(1,701)	2,560
Loss before income taxes	(23,966)	(19,801)	(108,214)	(62,974)
Income tax benefit (expense)	(12)	6	1,706	126
Net loss	$(23,978)	$(19,795)	$(106,508)	$(62,848)
Net loss per share
Net loss per share, basic and diluted	$(0.09)	$(0.08)	$(0.41)	$(0.26)
Weighted average shares outstanding, basic and diluted	275,881,170	248,520,724	259,254,775	243,075,262

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.