Precigen, Inc. (PGEN) Misses Q2 EPS by 13c, Revenues Beat

Precigen, Inc. (NASDAQ: PGEN) reported Q2 EPS of ($0.26), $0.13 worse than the analyst estimate of ($0.13). Revenue for the quarter came in at $30.4 million versus the consensus estimate of $13.76 million.

Second Quarter 2020 Financial Highlights:

• Total revenues of $30.4 million;
• Net loss of $43.4 million, or $(0.26) per basic share, of which $31.7 million was for non-cash charges; and
• Cash, cash equivalents, and short-term investments totaled $133.0 million at June 30, 2020.

"Precigen has continued this quarter to streamline operations and focus efforts on delivering value to stakeholders through forward progress on our programs," said Helen Sabzevari, PhD, President and CEO of Precigen. "In the clinic, we recently announced encouraging data from the AG019 Phase 1b monotherapy study in Type 1 diabetes and the INXN-4001 Phase I study of patients with chronic heart failure and expect additional results on these and other clinical programs in the coming months. Additionally, we are pleased to announce our proprietary UltraPorator manufacturing device, which we believe sets Precigen on the path to commercial viability for rapid decentralized manufacturing of UltraCAR-T at multiple medical centers."

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

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