Business
Precigen Reports Fourth Quarter and Full Year 2022 Financial Results and Business Updates
– Achieved significant clinical progress for UltraCAR-T® and AdenoVerse™ investigational therapeutics in 2022 – – Presented positive clinical data for
About this update from Precigen, Inc.
[{"type":"text","content":"– Achieved significant clinical progress for UltraCAR-T® and AdenoVerse™ investigational therapeutics in 2022 –\n– Presented positive clinical data for PRGN-2012 AdenoVerse immunotherapy in recurrent respiratory papillomatosis (RRP) showing favorable safety profile and significant reduction in surgeries with 50% of the patients in Complete Response following treatment with PRGN-2012 –\n– Presented positive clinical data for PRGN-3006 UltraCAR-T in relapsed or refractory (r/r) acute myeloid leukemia (AML) showing a favorable safety profile, 27% objective response rate (ORR) and reduction in AML blasts in the majority of patients following treatment with PRGN-3006 – \n– Significantly strengthened balance sheet via successful divesture of non-health subsidiary in the third quarter, retirement of the majority of the Company's $200 million outstanding convertible notes, and raising approximately $73 million (after deducting underwriting discounts, fees and other underwriting expenses) via a public offering of common stock –\n– Cash, cash equivalents, short-term investments and restricted cash totaled $99.7 million as of December 31, 2022 –\nGERMANTOWN, Md., March 6, 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 fourth quarter and full year 2022 financial results.\n\n \n \n \n \n \n \n\n \n\"2022 was a successful year with respect to clinical advancements for Precigen's UltraCAR-T and AdenoVerse programs. We showcased highly encouraging safety and efficacy results from Phase 1 dose escalation of PRGN-3006 UltraCAR-T in AML at ASH and Phase 1 dose escalation and expansion cohort data of our PRGN-2012 AdenoVerse immunotherapy in RRP at our Company's R&D Day,\" said Helen Sabzevari, PhD, President and CEO of Precigen. \"These data set us up for a strong 2023 as we continue our focus on rapidly advancing clinical programs and pursuing the most promising regulatory paths to licensure.\"\n\"Through the actions that we have taken over the past year, we have significantly strengthened our financial position. These actions included the divesture of Trans Ova Genetics, from which the non-dilutive proceeds were used to early retire over 85% of our outstanding $200 million of convertible notes d...