Precigen Inc. (PGEN) Misses Q3 EPS by 4c, Revenues Beat

Precigen Inc. (NASDAQ: PGEN) reported Q3 EPS of ($0.18), $0.04 worse than the analyst estimate of ($0.14). Revenue for the quarter came in at $23.6 million versus the consensus estimate of $17.7 million.

Third Quarter 2020 Financial Highlights:

• Total revenues of $23.6 million in 2020 compared to $18.3 million in 2019;
• Net loss from continuing operations of $29.5 million, or $(0.18) per basic share, of which $10.1 million was for non-cash charges in 2020, compared to net loss from continuing operations of $49.1 million, or $(0.32) per basic share, of which $15.7 million was for non-cash charges in 2019; and
• Cash, cash equivalents, and short-term investments totaled $113.1 million as of September 30, 2020.

"The Precigen team has made impressive progress this quarter in driving value across our preclinical and clinical pipeline. In particular, we made several advances in our quest to meet unmet needs for patients, including dosing the first patient in our first-in-human study of PRGN-2009 AdenoVerse in HPV-positive solid tumors, and advancing our proprietary UltraPorator system towards clinical implementation," said Helen Sabzevari, PhD, President and CEO of Precigen. "In early December, we are excited to share a comprehensive update on our clinical pipeline progress towards meeting our 2020 goals laid out earlier this year as well as looking forward to the PRGN-3006 presentation at the 2020 meeting of the American Society of Hematology by the trial's Principal Investigator, Dr. David Sallman from the Moffitt Cancer Center."

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

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