Quarterly ResultMay 13, 2026, 04:27 PM
Precigen Q1 Net Loss Narrows to $7.9M; Revenue Jumps to $23.2M
AI Summary
Precigen reported a significant narrowing of its net loss to $7.9 million in the first quarter of 2026, a substantial improvement from a $54.2 million net loss in the prior year period. This was driven by a dramatic increase in total revenues to $23.3 million, primarily due to $21.6 million in product sales from its newly approved immunotherapy, Papzimeos. Despite the improved top-line performance and reduced operating loss, the company experienced a notable increase in net cash used in operating activities, leading to a decrease in cash and cash equivalents to $7.5 million by quarter-end.
Key Highlights
- Net loss significantly narrowed to $7.9 million in Q1 2026 from $54.2 million in Q1 2025.
- Total revenues surged to $23.3 million in Q1 2026, up from $1.3 million in Q1 2025.
- Product revenues, primarily from Papzimeos, reached $21.6 million in Q1 2026.
- Operating loss improved to $6.0 million in Q1 2026 from $22.6 million in Q1 2025.
- Research and development expenses decreased to $5.6 million in Q1 2026 from $10.5 million in Q1 2025.
- Cash and cash equivalents stood at $7.5 million as of March 31, 2026, down from $30.2 million at December 31, 2025.
- Net cash used in operating activities increased to $43.8 million in Q1 2026 from $16.3 million in Q1 2025.