Company: PGEN
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001356090-25-000019
Chunk: 38

Company: PRECIGEN, INC.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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 the approval of the BLA by the FDA was determined to be not probable of achievement, as such approval is outside of the Company's control. 

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Therefore, no stock-based compensation expense was recognized for the three months ended March 31, 2025 and during 2024 related to this milestone.Precigen uses treasury shares (to the extent available) and authorized and unissued shares to satisfy share award exercises.

12. Operating Leases

The Company leases certain facilities and equipment under operating leases. Leases with a lease term of twelve months or less are considered short-term leases and are not recorded on the balance sheet, and expense for these leases is recognized over the term of the lease. All other leases have remaining terms of one to six 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:Three Months Ended  March 31,20252024Operating lease costs$416 $609 Short-term lease costs10 13 Variable lease costs90 92 Lease costs$516 $714 As of March 31, 2025, maturities of lease liabilities, excluding short-term and variable leases, for continuing operations were as follows:2025$1,125 20261,572 20271,358 20281,263 20291,295 2030553 Thereafter— Total$7,166 Present value adjustment(1,749)Total$5,417 Current portion of operating lease liabilities$928 Long-term portion of operating lease liabilities4,489 Total$5,417 

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Other information related to operating leases in continuing operations was as follows:March 31,2025December 31,2024Weighted average remaining lease term (years)4.574.83Weighted average discount rate11.51 %11.57 %Three Months Ended  March 31,20252024Supplemental disclosure of cash flow informationCash paid for operating lease liabilities$416 $572 Operating lease right-of-use assets obtained in exchange for new lease liabilities (includes