Business
Precigen Reports First Quarter 2023 Financial Results and Business Updates
– Positive Phase 1 clinical data presented for PRGN-2012 AdenoVerse™ immunotherapy in RRP demonstrated favorable safety profile and significant reduction in
About this update from Precigen, Inc.
[{"type":"text","content":"– Positive Phase 1 clinical data presented for PRGN-2012 AdenoVerse™ immunotherapy in RRP demonstrated favorable safety profile and significant reduction in surgeries with 50% of the patients in Complete Response following treatment with PRGN-2012 –\n– Enrollment completed in the Phase 2 study of PRGN-2012 in RRP – \n– First patient dosed in Phase 1/1b dose escalation/dose expansion study of PRGN-3007, a next generation UltraCAR-T® incorporating PD-1 checkpoint inhibition, in advanced ROR1+ hematological and solid tumors – \n– Regained exclusive rights to validated CAR-T targets, CD19 and BCMA, to enable unencumbered development and commercialization of UltraCAR-T® –\n– Latest clinical advancements for PRGN-3005 UltraCAR-T® and PRGN-2009 off-the-shelf AdenoVerse™ immunotherapy to be presented at the 2023 ASCO annual meeting in June –\n– Significantly strengthened balance sheet, raising $72.8 million, net of offering costs via a public offering of common stock –\n– Retired an additional $29.5 million of outstanding convertible notes, leaving $13.8 million maturing on July 1, 2023, which will be retired using the Company's restricted cash balance –\n– Cash, cash equivalents, short-term and long-term investments and restricted cash totaled $125.4 million as of March 31, 2023 –\nGERMANTOWN, Md., May 10, 2023 /PRNewswire/ -- Precigen, Inc. (Nasdaq: PGEN), a biopharmaceutical company specializing in the development of innovative gene and cell therapies to improve the lives of patients, today announced first quarter 2023 financial results and business updates.\n\n \n \n \n \n \n \n\n \n\"Precigen continues to execute on our strategy to maintain corporate strength while advancing our most promising programs. This quarter, we successfully closed a public offering and more recently announced that Precigen has regained rights to two validated targets (CD19 and BCMA) that will further bolster our already robust UltraCAR-T portfolio and provides an opportunity to advance potential best-in-class UltraCAR-T drug candidates. We continue to advance our vision to transform the personalized cell therapy landscape using Precigen's library approach to build the most comprehensive clinical and preclinical CAR-T portfolios with antigen-specific targets spanning both hematological and solid tumors where there is high unmet medical need for cancer patie...