Precigen, Inc. (PGEN) Misses Q4 EPS by 20c, Revenues Miss

Precigen, Inc. (NASDAQ: PGEN) reported Q4 EPS of ($0.47), $0.20 worse than the analyst estimate of ($0.27). Revenue for the quarter came in at $17 million versus the consensus estimate of $23.4 million.

Fourth Quarter 2019 Financial Highlights:

• Total revenues from continuing operations of $17.0 million;
• Net loss of $169.2 million attributable to Precigen, or $(1.09) per basic share, of which $95.7 million was from discontinued operations and an additional $33.8 million was for non-cash charges related to continuing operations; and
• Cash, cash equivalents, and short-term investments for continuing operations totaled $75.1 million at December 31, 2019.

"I am confident that we will make important advances this year in our mission to improve patient care through innovative gene and cell therapies," said Dr. Sabzevari. "We enter 2020 with cash resources that we believe are sufficient for us to deliver on several value-creating milestones during the year across our clinical pipeline. At the same time, we are laser-focused on aligning our portfolio, streamlining operations and maximizing organizational structures to improve operational efficiency going forward."

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

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