Company: PGEN
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001356090-25-000019
Chunk: 90

Company: PRECIGEN, INC.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 90
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, and the potential approval of the PRGN-2012 BLA by the FDA, as certain manufacturing costs will be recorded into inventory post approval. 

Selling, general and administrative expenses

Selling, general and administrative, or SG&A, expenses consist primarily of salaries and related costs, including stock-based compensation expense and severance benefits, for employees in executive, operational (including commercialization), finance, information technology, legal, and corporate communications functions. Other significant SG&A expenses include rent and utilities, insurance, accounting, external commercialization costs, and legal services (including the cost of settling any claims and lawsuits), and expenses associated with obtaining and maintaining our intellectual property.

SG&A expenses may fluctuate in the future depending on the scaling of our corporate functions required to support our corporate initiatives, the strategic prioritization, the build-up of our commercialization efforts and the outcomes of legal claims and assessments against us.

Other income (expense), net

Other income and expense net, consists of changes in the fair value of warrant liabilities and interest earned on our cash and cash equivalents and short-term and long-term investments, which may fluctuate based on amounts invested and current interest rates.

Results of operations

Comparison of the three months ended March 31, 2025 and the three months ended March 31, 2024 

The following table summarizes our results of operations for the three months ended March 31, 2025 and 2024, together with the changes in those items in dollars and as a percentage:

 Three Months Ended  March 31,DollarChangePercentChange 20252024 (In thousands) Product revenues$203 $138 $65 47.1 %Service revenues1,115 919 196 21.3 %Other revenues23 8 15 187.5 %Total revenues1,341 1,065 276 25.9 %Operating expensesCost of product and services1,100 1,075 25 2.3 %Research and development10,478 14,249 (3,771)(26.5)%Selling, general and administrative12,359 10,151 2,208 21.8 %Total operating expenses23,937 25,475 (1,538)(6.0)%Operating loss(22,596)(24,410)1,814 (7.4)%Total other income (expense), net(31,557)643 (32,