PRECIGEN, INC.
For the period ended Sep 30, 2025. Filed Nov 13, 2025.
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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, 2025 · Filed Nov 13, 2025
PGEN$4.52-4.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Balance Sheets as of and
Condensed Consolidated Balance Sheets
| (Amounts in thousands, except share data) | September 30,2025 | December 31,2024 |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $14,322 | $29,517 |
| Short-term investments | 106,813 | 68,393 |
| Receivables | ||
| Trade, less allowance for credit losses of $0 as of both September 30, 2025 and December 31, 2024 | 580 | 926 |
| Other | 520 | 237 |
| Inventory | 3,059 | — |
| Prepaid expenses | 4,303 | 3,341 |
| Total current assets | 129,597 | 102,414 |
| Long-term investments | 2,508 | — |
| Property, plant and equipment, net | 14,813 | 13,831 |
| Intangible assets, net | 3,500 | 4,455 |
| Goodwill | 15,232 | 19,139 |
| Right-of-use assets | 4,861 | 5,056 |
| Other assets | 753 | 371 |
| Total assets | $171,264 | $145,266 |
Condensed Consolidated Balance Sheets
| (Amounts in thousands, except share data) | September 30,2025 | December 31,2024 |
|---|---|---|
| Liabilities, Mezzanine Equity and Shareholders' Equity | ||
| Current liabilities | ||
| Accounts payable | $6,262 | $3,531 |
| Accrued compensation and benefits | 10,167 | 8,417 |
| Other accrued liabilities | 10,824 | 4,812 |
| Indemnification accruals | 3,213 | 3,213 |
| Deferred revenue | 480 | 589 |
| Current portion of lease liabilities | 1,123 | 956 |
| Total current liabilities | 32,069 | 21,518 |
| Long-term debt | 92,890 | — |
| Deferred revenue, net of current portion | 95 | 1,934 |
| Lease liabilities, net of current portion | 4,179 | 4,546 |
| Warrant liabilities | — | 50,537 |
| Other long-term liabilities | 163 | — |
| Total liabilities | 129,396 | 78,535 |
| Commitments and contingencies (Note 14) | ||
| Mezzanine equity | ||
| Series A Preferred Stock, no par value, 81,000 shares authorized as of September 30, 2025 and December 31, 2024; zero and 79,000 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively (aggregate liquidation preference of zero as of September 30, 2025 and $79,000 as of December 31, 2024). | — | 28,218 |
| Shareholders' equity | ||
| Common stock, no par value, 700,000,000 shares authorized as of September 30, 2025 and 400,000,000 shares authorized as of December 31, 2024; 353,810,556 shares and 292,869,097 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively. | — | — |
| Additional paid-in capital | 2,359,689 | 2,129,207 |
| Accumulated deficit | (2,317,845) | (2,090,706) |
| Accumulated other comprehensive income | 24 | 12 |
| Total shareholders' equity | 41,868 | 38,513 |
| Total liabilities, mezzanine equity and shareholders' equity | $171,264 | $145,266 |
Condensed Consolidated Statements of Operations
| (Amounts in thousands, except share and per share data) · Three Months Ended September 30, · Nine Months Ended September 30, | ||||
|---|---|---|---|---|
| 2025 · 2024 · 2025 · 2024 | ||||
| Revenues | ||||
| Collaboration and licensing revenue | $1,818 | $— | $1,818 | $— |
| Product revenues | 162 | 66 | 406 | 235 |
| Service revenues | 942 | 886 | 2,838 | 2,478 |
| Other revenues | — | 1 | 57 | 22 |
| Total revenues | 2,922 | 953 | 5,119 | 2,735 |
| Operating Expenses | ||||
| Cost of products and services | 1,035 | 1,009 | 3,227 | 3,098 |
| Research and development | 12,377 | 11,370 | 34,343 | 41,312 |
| Selling, general and administrative | 23,991 | 9,836 | 52,483 | 30,293 |
| Impairment of goodwill | — | — | 3,907 | 1,630 |
| Impairment of other noncurrent assets | — | — | — | 32,915 |
| Total operating expenses | 37,403 | 22,215 | 93,960 | 109,248 |
| Operating loss | (34,481) | (21,262) | (88,841) | (106,513) |
| Other Income (Expense), Net | ||||
| Change in fair value of warrant liabilities | (111,502) | — | (139,523) | — |
| Interest expense | (902) | (2) | (903) | (6) |
| Interest income | 534 | 283 | 2,148 | 1,210 |
| Other (expense) income, net | 7 | (2,985) | (17) | (2,905) |
| Total other expense, net | (111,863) | (2,704) | (138,295) | (1,701) |
| Loss before income taxes | (146,344) | (23,966) | (227,136) | (108,214) |
| Income tax (expense) benefit | — | (12) | (3) | 1,706 |
| Net loss | $(146,344) | $(23,978) | $(227,139) | $(106,508) |
| Deemed dividend on preferred stock | (179,000) | — | (179,000) | — |
| Net loss attributable to common shareholders | $(325,344) | $(23,978) | $(406,139) | $(106,508) |
| Net loss per share attributable to common shareholders | ||||
| Net loss per share attributable to common shareholders, basic and diluted | $(1.06) | $(0.09) | $(1.36) | $(0.41) |
| Weighted average shares outstanding, basic and diluted | 307,170,490 | 275,881,170 | 299,210,344 | 259,254,775 |
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