Company: PGEN
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001356090-25-000034
Chunk: 56

Company: PRECIGEN, INC.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 56
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 of less than one year to five years, some of which may include options to extend the lease and some of which may include options to terminate the lease within one year. The Company uses judgment to determine whether it is reasonably possible to extend the lease beyond the initial term or terminate before the initial term ends and the length of the possible extension or early termination. The leases are renewable at the option of the Company and do not contain residual value guarantees, covenants, or other restrictions. The components of lease costs were as follows:

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Three Months Ended  September 30,Nine Months Ended  September 30,2025202420252024Operating lease costs$423 $337 $1,254 $1,555 Short-term lease costs9 11 27 46 Variable lease costs105 92 285 276 Lease costs$537 $440 $1,566 $1,877 As of September 30, 2025, maturities of lease liabilities, excluding short-term and variable leases were as follows:2025$418 20261,695 20271,484 20281,360 20291,295 2030553 Thereafter— Total$6,805 Present value adjustment(1,503)Total$5,302 Current portion of operating lease liabilities$1,123 Long-term portion of operating lease liabilities4,179 Total$5,302 Other information related to operating leases was as follows:September 30,2025December 31,2024Weighted average remaining lease term (years)4.164.83Weighted average discount rate11.46 %11.57 %Nine Months Ended  September 30,20252024Supplemental disclosure of cash flow informationCash paid for operating lease liabilities$1,259 $1,903 Operating lease right-of-use assets obtained in exchange for new lease liabilities (includes new leases or modifications of existing leases)615 572 

14. Commitments and Contingencies

In December 2020, a derivative shareholder action, captioned Edward D. Wright, derivatively on behalf of Precigen, Inc. F/K/A Intrexon Corp. v. Alvarez et al, was filed in the Circuit Court for Fairfax County in Virginia on behalf of Precigen, Inc. The complaint named as defendants certain of the Company' directors and certain of the Company's current and former officers. The complaint's claims