Company: PGEN
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001356090-25-000034
Chunk: 71

Company: PRECIGEN, INC.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 71
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 months ended September 30, 2024. The increase was primarily driven by the changes noted above (including the $111.5 million change in fair value of warrant liabilities, representing $0.36 per basic and diluted share) plus the deemed dividend, as discussed above (representing $0.58 per basic and diluted share), partially offset by a higher weighted-average number of shares outstanding, primarily due to the conversion of preferred shares into common shares during the third quarter of 2025.

Comparison of the nine months ended September 30, 2025 and the nine months ended September 30, 2024 

The following table summarizes our results of operations for the nine months ended September 30, 2025 and 2024 (dollars in thousands):

38

 Nine months ended  September 30,DollarChangePercentChange 20252024  RevenuesCollaboration and licensing revenues$1,818 $— $1,818 N/AProduct revenues406 235 $171 72.8 %Service revenues2,838 2,478 360 14.5 %Other revenues57 22 35 159.1 %Total revenues5,119 2,735 2,384 87.2 %Operating expensesCost of product and services3,227 3,098 129 4.2 %Research and development34,343 41,312 (6,969)(16.9)%Selling, general and administrative52,483 30,293 22,190 73.3 %Impairment of goodwill3,907 1,630 2,277 139.7 %Impairment of other noncurrent assets— 32,915 (32,915)(100.0)%Total operating expenses93,960 109,248 (15,288)(14.0)%Operating loss(88,841)(106,513)17,672 (16.6)%Total other expense, net(138,295)(1,701)(136,594)>200%Loss before income taxes(227,136)(108,214)(118,922)109.9 %Income tax (expense) benefit(3)1,706 (1,709)(100.2)%Net loss$(227,139)$(106,508)$(120,631)113.3 %Deemed dividend on preferred stock$(179,000)$—