Company: PGEN
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001356090-25-000034
Chunk: 72

Company: PRECIGEN, INC.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 72
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 $(179,000)— %Net loss attributable to common shareholders$(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 20%, compared to the nine months ended September 30, 2024. This increase was primarily related to increased volume of products sold and services rendered at our subsidiary, Exemplar.

Cost of product and services

Cost of product and service increased primarily as a result of higher revenues at Exemplar.

Research and development expenses

Research and development expenses decreased by $7.0 million, or 17%, compared to the nine months ended September 30, 2024. The decrease was primarily driven by a $5.4 million decrease in costs associated with ActoBio, including depreciation, amortization, personnel and other research and development costs after the Company closed its operations in late 2024. Additionally, external services declined by $3.5 million, primarily due to reduced activity for contract research organizations as a result of the strategic prioritization of our pipeline announced in the third quarter of 2024. These decreases were partially offset by increased manufacturing costs related to Papzimeos prior to its FDA approval and higher professional fees incurred in connection with regulatory filing procedures. 

Selling, general and administrative expenses

39

SG&A expenses increased by $22.2 million, or 73%, compared to the nine months ended September 30, 2024. This increase was primarily due to an $18.0 million increase in costs incurred related to Papzimeos commercial readiness, including sales and marketing efforts as well as professional and consulting fees to support our business growth and commercial leadership. In addition, other employee-related costs increased by approximately $4.7 million, which includes increased costs associated with the vesting of certain PSU awards which was tied to the FDA's approval of Papzimeos.

Impairment