Precigen, Inc. (PGEN) Tops Q1 EPS by 5c, Revenues Beat

Precigen, Inc. (NASDAQ: PGEN) reported Q1 EPS of ($0.19), $0.05 better than the analyst estimate of ($0.24). Revenue for the quarter came in at $29.8 million versus the consensus estimate of $10.5 million.

First Quarter 2020 Financial Highlights:

• Total revenues of $29.8 million;
• Net loss from continuing operations attributable to Precigen of $29.9 million, or $(0.19) per basic share, of which $8.7 million was for non-cash charges; and
• Cash, cash equivalents, and short-term investments totaled $149.2 million at March 31, 2020.

"This is the first full quarter operating as the new Precigen, and we have made tremendous progress in consolidating operations and adhering to our operating priniciples to deliver value to all stakeholders," said Helen Sabzevari, PhD, President and CEO of Precigen. "From a clinical perspective, we are incredibly pleased to receive the third IND clearance for a Precigen asset in just over one year. From an operational perspective, we've achieved significant progress in streamlining our healthcare operations. This helps us focus our capital allocation to ensure that we have a solid runway for maximum value creation."

For earnings history and earnings-related data on Precigen, Inc. (PGEN) click here.

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