Precigen Inc - PGEN STOCK NEWS

Precigen, Inc. (Nasdaq: PGEN) reported third quarter 2020 revenues of $23.6 million, up 29% from $18.3 million in Q3 2019. The net loss narrowed to $29.5 million or $(0.18) per share, improving from $49.1 million or $(0.32) per share a year prior. Year-to-date revenues reached $83.8 million, a 14% increase from $73.7 million in 2019. Key achievements included FDA clearance for the UltraPorator system, dosing the first patient in the PRGN-2009 trial, and advancing UltraCAR-T therapies for ovarian cancer and AML.

Precigen, a biopharmaceutical company, will release its third quarter 2020 financial results on November 9, 2020. The company focuses on developing gene and cell therapies for various diseases, including cancer and autoimmune disorders. In early December, Precigen plans to host a call to update stakeholders on its clinical pipeline. The firm emphasizes its commitment to precision medicine and aims to innovate in affordable biotherapeutics. Investors should stay tuned for financial performance insights and clinical progress in the upcoming announcements.

Precigen, Inc. (Nasdaq: PGEN) has appointed Gaurav Vij as the new head of business development. Mr. Vij, with over 18 years of experience, will focus on accelerating strategic partnerships and enhancing the company’s pipeline programs. His prior experience includes significant roles at Gilead Sciences, Amgen, and Shire Pharmaceuticals, with a strong emphasis on oncology. This appointment aligns with Precigen's strategy to maximize value through partnerships and foster innovation in gene and cell therapies.

Precigen (Nasdaq: PGEN) has received FDA clearance for its UltraPorator system, designed for rapid manufacturing of UltraCAR-T therapies. This system enables efficient clinical trial manufacturing for PRGN-3005 and PRGN-3006, targeting ovarian cancer and acute myeloid leukemia, respectively. The technology transfer is now complete, allowing personalized therapy delivery to patients. The UltraPorator significantly reduces processing time and contamination risks compared to traditional methods, enhancing the scalability of CAR-T therapy production. This advancement aims to transform patient access to critical cancer treatments.

On October 9, 2020, Precigen (Nasdaq: PGEN) announced that Merck KGaA, Darmstadt, Germany, increased its ownership from 11.6% to 14.8% by converting a $25 million convertible note. This move positions Merck as Precigen's second-largest shareholder. The agreement includes the reassignment of CAR-T development rights, allowing Precigen to regain autonomy over its proprietary CAR-T technology in exchange for $150 million in stock and the convertible note. Two UltraCAR-T therapies are currently in Phase 1 trials against ovarian cancer and AML.

On September 8, 2020, Precigen (Nasdaq: PGEN) announced that Helen Sabzevari, PhD, President and CEO, will present at the H.C. Wainwright 22nd Annual Global Investment Conference on September 14, 2020, at 10:30 AM ET. The event will be accessible via a live webcast through Precigen’s website. Precigen focuses on innovative gene and cell therapies to address serious diseases in immuno-oncology, autoimmune disorders, and infectious diseases, advancing its clinical pipeline toward commercialization.

Precigen, Inc. (Nasdaq: PGEN) announced the first patient has been dosed with PRGN-2009, an investigational OTS immunotherapy targeting HPV-associated solid tumors. The Phase I trial will evaluate the safety of PRGN-2009 as a monotherapy and in combination with bintrafusp alfa for recurrent or metastatic cancers. The study, facilitated through a CRADA with the National Cancer Institute, marks a significant step in developing new treatment options for patients. HPV-related cancers account for approximately 44,000 cases annually in the U.S., emphasizing the importance of this research.

Precigen, Inc. (PGEN) released its second quarter and first half financial results for 2020, reporting total revenues of $30.4 million for Q2 and $60.3 million for the first half. The net loss was $43.4 million in Q2 ($0.26 per share) and $73.3 million in the first half ($0.45 per share), affected by non-cash charges. Key developments included advancements in the UltraPorator device and ongoing clinical trials for therapies like UltraCAR-T and AG019, demonstrating promising safety and efficacy results.

Precigen ActoBio, a clinical-stage biotechnology firm, announced the successful completion of the primary endpoint in its Phase 1b study of AG019, focusing on safety and tolerability for early-onset type 1 diabetes. The study showed that AG019, an oral capsule, was well tolerated with no serious adverse events reported. Notably, 67% of patients exhibited a slower decline in C-peptide levels, indicating potential disease modification. The ongoing Phase 2a study will further evaluate AG019 in combination with teplizumab. This promising data supports continued development of AG019 in targeting type 1 diabetes.