Company: PGEN
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001356090-25-000034
Chunk: 69

Company: PRECIGEN, INC.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 69
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 >200%Operating expensesCost of product and services1,035 1,009 26 2.6 %Research and development12,377 11,370 1,007 8.9 %Selling, general and administrative23,991 9,836 14,155 143.9 %Total operating expenses37,403 22,215 15,188 68.4 %Operating loss(34,481)(21,262)(13,219)62.2 %Total other expense, net(111,863)(2,704)(109,159)>200%Loss before income taxes(146,344)(23,966)(122,378)>200%Income tax expense — (12)12 (100.0)%Net Loss$(146,344)$(23,978)$(122,366)<200%Deemed dividend on preferred stock$(179,000)$— $(179,000)— %Net loss attributable to common shareholders$(325,344)$(23,978)$(301,366)<200%Net loss per share attributable to common shareholders, basic and diluted$(1.06)$(0.09)$(0.97)<200%

Total revenues

Total revenues increased by $2.0 million, or >200% primarily driven by the increase in collaboration and licensing revenues. In September 2025, the Company and PTC Therapeutics mutually agreed to terminate their existing exclusive channel collaboration ("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.

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Cost of product and services

Cost of product and services slightly increased, primarily as a result of higher product and service revenues at our Exemplar subsidiary. 

Research and development expenses

Research and development expenses increased by $1.0 million, or 9%, compared to the three months ended September 30, 2024. The increase was primarily driven by increased manufacturing expenses and lab supplies related to commercial manufacturing costs of Papzimeos prior to its FDA approval, professional fees incurred in connection with regulatory filing procedures as well as increased employee-related expenses pertaining to the vesting of performance-based stock unit ("PSU") awards upon the FDA's approval of Papzimeos in the third quarter of 2025. These increases were offset by the capitalization of inventory related costs subsequent to the FDA's approval of Papz