Precigen, Inc. (PGEN)

Key figures

The last twelve months reported, with the latest price and balance sheet.

Market value

$2.2B

Cash

$16.3M

Debt

$93.9M

Debt to equity

2.15

Shares outstanding

358.0M

Financial statements

Revenue, profit and cash flow by fiscal year, each year linked to its annual report.

By quarter

What the company said with its results

From the second quarter of 2026 results, filed 4 August 2026.

• PAPZIMEOS revenue more than doubled. PAPZIMEOS net revenue reached $53.1 million, up from $21.6 million in the prior quarter. Total revenues were $55.0 million, against $0.9 million a year earlier.
• Quarter swung to net income. Net income was $20.1 million, or $0.05 per diluted share, against a net loss of $26.6 million a year earlier. Six-month net income was $12.1 million, or $0.03 per diluted share.
• Revenue rise from commercial sales. Management attributed the rise in total revenues mainly to the recording of commercial PAPZIMEOS sales, which were not recorded in the prior-year period.
• Hub enrollment passed 500 patients. Well over 500 patients have registered through the hub, up from about 400 in the prior quarter. Patients outside the hub are also being identified and treated.
• Payer coverage reached 315 million lives. Coverage spans about 315 million US lives across private plans, Medicare and Medicaid, nearly all insured lives. The prior quarter cited about 297 million lives.
• Permanent J-code supports access. CMS assigned permanent J-code J3404 effective April 1, 2026, giving sites a standard reimbursement pathway and less claims uncertainty.
• Expert panel names first-line therapy. A position paper sponsored by the RRP Foundation, written by 16 RRP physicians, named PAPZIMEOS the first-line standard of care for adults with RRP in the US.
• SG&A rose on commercial spending. SG&A rose $6.1 million year over year, reflecting PAPZIMEOS commercialization, marketing, personnel costs and stock compensation.
• R&D fell on capitalized manufacturing. R&D fell $4.2 million from the prior-year quarter. Since FDA approval, PAPZIMEOS manufacturing costs are capitalized as inventory rather than expensed as R&D.
• Cost of products rose $1.7 million. Cost of products and services rose $1.7 million, almost entirely from costs tied to recording PAPZIMEOS commercial sales.
• Prior-year impairment did not recur. A $3.9 million impairment of the Exemplar reporting unit was recorded in Q2 2025, with no comparable charge in Q2 2026.
• Prior-year warrant gain absent. Other expense, net was $2.6 million, against other income of $5.1 million a year earlier, when a warrant fair-value gain was recorded.
• Cash and investments $38.7 million. Cash, cash equivalents and investments were $38.7 million at June 30, 2026, down from $56.7 million at March 31, 2026.
• Trade receivables rose to $71.9 million. Trade receivables, net were $71.9 million at June 30, 2026, against $26.4 million at March 31 and $3.9 million at December 31, 2025.

Revenue by segment

As the company reports it in the segment note of its annual report.

By business, FY2024

By product, FY2024

Company events

The newest 8-K filings of 186 held.

Every filing

The newest filings with the SEC of 407 held.

Insider trades

Form 4 trades by officers, directors and 10% owners, last 12 months.

Planned insider sales

Form 144 notices, filed when the sell order goes to the broker.

Large holders

Schedule 13D and 13G filings by holders of more than 5% of the voting shares.

Short interest

Shares sold short and not yet bought back, on each FINRA settlement date.

Funds that hold it

From each fund's latest Form 13F.

238 funds held it at 30 Jun 2026: 116 added and 45 trimmed in the quarter. The largest:

Peers

Companies in the same industry.

• Eli Lilly & Co. (LLY): revenue $79.7B, market value $1.21T
• Johnson & Johnson (JNJ): revenue $99.3B, market value $652.9B
• AbbVie Inc. (ABBV): revenue $64.4B, market value $506.1B
• Merck & Co., Inc. (MRK): revenue $66.6B, market value $348.1B
• Novartis AG (NVS): revenue $54.5B, market value $297.8B
• AstraZeneca PLC (AZN): revenue $58.7B, market value $263.1B
• Abbott Laboratories (ABT): revenue $46.6B, market value $177.7B
• Novo Nordisk A/S (NVO): revenue $46.8B, market value $171.0B
• Pfizer Inc. (PFE): revenue $63.7B, market value $168.0B
• Vertex Pharmaceuticals Inc. (VRTX): revenue $12.6B, market value $134.2B

What the company does

Precigen is a commercial-stage biopharmaceutical company that works on precision medicines in immuno-oncology, autoimmune disorders and infectious diseases. Its one approved product is Papzimeos (zopapogene imadenovec-drba, PRGN-2012), which the FDA approved in August 2025 for adults with recurrent respiratory papillomatosis (RRP). At 31 December 2025 it had 160 employees, 140 of them in healthcare operations.

What it sells

Papzimeos is a non-replicating adenoviral vector-based immunotherapy designed to express a fusion antigen made from selected regions of human papillomavirus (HPV) types 6 and 11 proteins. It is given as four subcutaneous injections over a 12-week interval. RRP is a rare disease caused by chronic HPV 6 or HPV 11 infection. It causes recurrent benign tumors in the respiratory tract and has mostly been managed with repeated surgeries. The company says Papzimeos is the first and only FDA-approved therapy for adults with RRP, and it estimates about 27,000 adults in the United States live with the disease.

In the pivotal study, 18 of 35 patients (51%) needed no surgeries in the 12 months after treatment. Papzimeos has Breakthrough Therapy Designation and Orphan Drug designation from the FDA. It also has Orphan Drug Designation from the European Commission. A Marketing Authorization Application was submitted to the EMA in November 2025, has been validated and is under review.

The company sells in the United States with a field sales team, Medical Science Liaisons and a patient support program called Papzimeos Support. It selected Eversana to support launch strategy and commercialization. It reports private health plan coverage of about 215 million lives, and Papzimeos is also covered under Medicare and Medicaid. Sales began in the fourth quarter of 2025. Revenue is recognized when product is delivered to the site of care or a specialty pharmacy.

How its technology works

AdenoVerse is a library of engineered adenovectors, including gorilla adenovectors, used to deliver therapeutic genes and vaccine antigens. The company says these vectors can carry a genetic payload of up to 12kb and can be given repeatedly. It reports that the gorilla variant GC46 has a seroprevalence of less than 6 percent in the United States, against an estimated 58 percent for Ad5.

UltraCAR-T uses the Sleeping Beauty non-viral system, licensed from the University of Texas MD Anderson Cancer Center, to build CAR-T cells that carry a CAR, a kill switch and membrane-bound interleukin-15 (mbIL15). The company describes a process in which cells are made overnight at a medical center's cGMP facility and returned to the patient the next day. The UltraPorator electroporation device supports this process, and the FDA has cleared it as a manufacturing device for clinical trials of the company's UltraCAR-T therapies. The company also owns the RheoSwitch gene switch system, which responds to an orally available activator ligand.

Its pipeline

PRGN-2009 is an AdenoVerse immunotherapy for HPV-associated cancers. It is in two Phase 2 trials in newly diagnosed HPV-associated oropharyngeal cancer, and in a randomized Phase 2 trial with pembrolizumab in recurrent or metastatic cervical cancer. All are run with the National Cancer Institute under a cooperative research and development agreement.

PRGN-3006 targets CD33 in relapsed or refractory acute myeloid leukemia. Enrollment in its Phase 1b trial is complete, and the FDA has granted it Orphan Drug designation in AML and Fast Track Designation in relapsed or refractory AML. The company says it plans to focus on strategic partnerships to advance this program. Enrollment is paused in the trials of PRGN-3005 (ovarian cancer, MUC16) and PRGN-3007 (ROR1), a decision announced in August 2024. The company shut down the operations of ActoBio in 2024 and says its intellectual property is available for prospective transactions.

Precigen Exemplar

Exemplar provides MiniSwine Yucatan miniature pig research models and services. The models are genetically engineered to show human disease states. Its customers are industry and academic researchers developing small molecule, gene and cell therapies. Exemplar had 20 employees at 31 December 2025 and works from about 57,711 square feet of production, lab and office space in Sioux County and Johnson County, Iowa.

Where it works and its people

The main research, development and production site is in Germantown, Maryland. The company built cGMP manufacturing capability for AdenoVerse-based products there and expanded drug substance capacity to support the Papzimeos launch. Of the 160 employees, 47 support research and development, and 35 of those have advanced degrees, including 17 PhDs. None are covered by a collective bargaining agreement.

Competition and patents

The company says many competitors have greater financial, technical and human resources. For RRP it names INOVIO Pharmaceuticals as its main competitor, whose INO-3107 BLA is under FDA review. For PRGN-2009 it lists several HPV immunotherapy developers, including BioNTech SE and PDS Biotechnology. In cell therapy it names companies such as Regeneron Pharmaceuticals, Anixa Biosciences and Allogene Therapeutics.

The company relies on patents, trade secrets and confidentiality agreements. Its last-to-expire patents run to 2032 for switch technologies, 2044 for genetic componentry and 2046 for gene delivery technologies.

*From Precigen's annual report on Form 10-K for the year ended 31 December 2025. [The filing](https://www.sec.gov/Archives/edgar/data/1356090/000135609026000009/pgen-20251231.htm)*

From the company's 10-K.