Company: PGEN
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001356090-25-000034
Chunk: 149

Company: PRECIGEN, INC.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 2
Chunk 149
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  September 30,DollarChangePercentChange 20252024  RevenuesCollaboration and licensing revenues$1,818 $— $1,818 N/AProduct revenues406 235 $171 72.8 %Service revenues2,838 2,478 360 14.5 %Other revenues57 22 35 159.1 %Total revenues5,119 2,735 2,384 87.2 %Operating expensesCost of product and services3,227 3,098 129 4.2 %Research and development34,343 41,312 (6,969)(16.9)%Selling, general and administrative52,483 30,293 22,190 73.3 %Impairment of goodwill3,907 1,630 2,277 139.7 %Impairment of other noncurrent assets— 32,915 (32,915)(100.0)%Total operating expenses93,960 109,248 (15,288)(14.0)%Operating loss(88,841)(106,513)17,672 (16.6)%Total other expense, net(138,295)(1,701)(136,594)>200%Loss before income taxes(227,136)(108,214)(118,922)109.9 %Income tax (expense) benefit(3)1,706 (1,709)(100.2)%Net loss$(227,139)$(106,508)$(120,631)113.3 %Deemed dividend on preferred stock$(179,000)$— $(179,000)— %Net loss attributable to common shareholders$(406,139)$(106,508)$(299,631)>200%Net loss per share attributable to common shareholders, basic and diluted$(1.36)$(0.41)$(0.95)<200%

Total revenues

Total revenues increased by $2.4 million, or 87% primarily driven by the increase in collaboration and licensing revenues. In September 2025, the Company and PTC Therapeutics mutually agreed to terminate their existing ECC agreement. As a result, the Company recognized the remaining deferred revenue associated with the agreement, totaling $1.8 million. There was no comparable revenue recognized in the prior  year period. In addition, Product and Service revenues increased by $0.5 million, or