Business
Precigen Reports Fourth Quarter and Year End 2019 Financial Results
- Company completed series of transactions to support tighter focus on healthcare - - Quarterly GAAP revenues from continuing operations of $17.0 million and
About this update from Precigen, Inc.
[{"type":"text","content":"- Company completed series of transactions to support tighter focus on healthcare -\n - Quarterly GAAP revenues from continuing operations of $17.0 million and net loss attributable to Precigen of $169.2 million, of which $95.7 million was from discontinued operations and an additional $33.8 million was for non-cash charges related to continuing operations -\n\n\nGERMANTOWN, Md., March 2, 2020 /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 its fourth quarter financial results for 2019. \n\n \n \n \n \n \n \n\n \nRecent Business Highlights:\nThe Company announced the appointment of Helen Sabzevari, PhD as President and CEO of Precigen and Randal J. Kirk as Executive Chairman effective as of January 1, 2020. The Company also changed its name to Precigen, Inc. from Intrexon Corporation and its Nasdaq stock symbol to PGEN from XON effective February 1, 2020; The Company closed sales of a number of its assets for an aggregate of $65.2 million and sold $35 million of its common stock in January 2020, thereby alleviating the going concern qualification associated with its 2019 consolidated financial statements as well as further streamlining corporate focus; The Company sold its ownership stake in AquaBounty Technologies, Inc. (Nasdaq: AQB) in October 2019 for proceeds of $21.6 million; Precigen announced that the US Food and Drug Administration (FDA) granted orphan drug designation (ODD) to PRGN-3006, a first-in-class investigational therapy using Precigen's non-viral UltraCAR-T™ therapeutic platform for patients with relapsed or refractory acute myeloid leukemia (AML) and higher risk myelodysplastic syndromes (MDS) (clinical trial identifier: NCT03927261); Precigen ActoBio, Inc., a wholly-owned subsidiary of Precigen, collaboration partner Oragenics, Inc. (NYSE American: OGEN) completed enrollment in the Phase 2 trial of AG013, an easy to use oral rinsing system designed to prevent and treat oral mucositis; and Triple-Gene LLC, a majority-owned subsidiary of Precigen, completed the Phase 1 trial enrollment and reported preliminary data of its investigational multigenic gene therapy INXN-4001 for the treatment of heart failure.Fourth Quarter 2019 Financial Highlights:\nTotal revenues from ...