PRECIGEN, INC.

For the period ended Mar 31, 2025. Filed May 14, 2025.

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.

Mar 31, 2025 · Filed May 14, 2025

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)	March 31,2025	December 31,2024
Assets
Current assets
Cash and cash equivalents	$6,058	$29,517
Short-term investments	74,184	68,393
Receivables
Trade, less allowance for credit losses of $0 as of both March 31, 2025 and December 31, 2024	751	926
Other	313	237
Prepaid expenses	3,295	3,341
Total current assets	84,601	102,414
Long-term investments	750	—
Property, plant and equipment, net	14,668	13,831
Intangible assets, net	4,136	4,455
Goodwill	19,139	19,139
Right-of-use assets	5,066	5,056
Other assets	427	371
Total assets	$128,787	$145,266

Condensed Consolidated Balance Sheets

(Amounts in thousands, except share data)	March 31,2025	December 31,2024
Liabilities, Mezzanine Equity and Shareholders' (Deficit) Equity
Current liabilities
Accounts payable	$3,107	$3,531
Accrued compensation and benefits	9,621	8,417
Other accrued liabilities	6,568	4,812
Indemnification accruals	3,213	3,213
Deferred revenue	549	589
Current portion of lease liabilities	928	956
Total current liabilities	23,986	21,518
Deferred revenue, net of current portion	1,836	1,934
Lease liabilities, net of current portion	4,489	4,546
Warrant liabilities	83,018	50,537
Total liabilities	113,329	78,535
Commitments and contingencies (Note 13)
Mezzanine equity
Series A Preferred Stock, no par value, 81,000 shares authorized as of March 31, 2025 and December 31, 2024; 79,000 shares issued as of as March 31, 2025 and December 31, 2024; aggregate liquidation preference of $80,580 as of March 31, 2025.	29,518	28,218
Shareholders' equity (deficit)
Common stock, no par value, 400,000,000 shares authorized as of March 31, 2025 and December 31, 2024; 295,135,060 shares and 292,869,097 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively.	—	—
Additional paid-in capital	2,130,787	2,129,207
Accumulated deficit	(2,144,859)	(2,090,706)
Accumulated other comprehensive income	12	12
Total shareholders' (deficit) equity	(14,060)	38,513
Total liabilities, mezzanine equity and shareholders' (deficit) equity	$128,787	$145,266

Condensed Consolidated Statements of Operations

(Amounts in thousands, except share and per share data)	Three Months Ended March 31,
2025	2024
Revenues
Product revenues	$203	$138
Service revenues	1,115	919
Other revenues	23	8
Total revenues	1,341	1,065
Operating Expenses
Cost of products and services	1,100	1,075
Research and development	10,478	14,249
Selling, general and administrative	12,359	10,151
Total operating expenses	23,937	25,475
Operating loss	(22,596)	(24,410)
Other Income (Expense), Net
Change in fair value of warrant liabilities	(32,481)	—
Interest expense	(1)	(2)
Interest income	918	608
Other income, net	7	37
Total other (expense) income, net	(31,557)	643
Loss before income taxes	(54,153)	(23,767)
Income tax benefit	—	29
Net loss	$(54,153)	$(23,738)
Net loss per share
Net loss per share, basic and diluted	$(0.18)	$(0.10)
Weighted average shares outstanding, basic and diluted	293,879,653	249,220,335

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.