Company: PGEN
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001356090-25-000024
Chunk: 55

Company: PRECIGEN, INC.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 55
---
 the Company's asset prioritization announced in the third quarter of 2024.

Selling, general and administrative expenses

SG&A expenses increased by $5.8 million, or 57%, compared to the three months ended June 30, 2024. This increase was primarily associated with PRGN-2012 commercial readiness. This increase was partially offset by a reduction in costs associated with ActoBio, legal fees, insurance rates and license and patent fees compared to the prior year period.

Impairment of Goodwill and other noncurrent assets

In the second quarter of 2025, we recorded $3.9 million in impairment related to our Exemplar reporting unit. Additionally, in conjunction with the suspension of ActoBio’s operations, we recorded $34.5 million of impairment charges related to goodwill and long-lived assets in the second quarter of 2024. 

Total other income (expense), net

Total other income (expense) increased $4.8 million, compared to the three months ended June 30, 2024. This change was primarily driven by $4.5 million decrease in the fair value of warrant liabilities, which was influenced by a decrease in the stock price of Precigen common stock compared to the first quarter of 2025 and to a lesser extent, a decrease in the liability to account for the additional warrants that will be issued as part of the paid-in-kind dividends related to the Company's Series A Preferred Stock,which was also influenced by a decrease in the stock price of Precigen common stock compared to the first quarter of 2025. Additionally, interest income rose by $0.4 million resulting from increased investment balances. 

33

Comparison of the six months ended June 30, 2025 and the six months ended June 30, 2024 

The following table summarizes our results of operations for the six months ended June 30, 2025 and 2024 (dollars in thousands):

 Six months ended  June 30,DollarChangePercentChange 20252024  Product revenues$244 $169 $75 44.4 %Service revenues1,896 1,592 304 19.1 %Other revenues57 21 36 171.4 %Total revenues2,197 1,782 415 23.3 %Operating expensesCost of product and services2,192 2,089 103 4.9 %Research and development21,966