Precigen Reports 146.7% Revenue Growth and FDA Approval of Papzimeos in 2025

Precigen, Inc. reported significant financial developments in its 2025 fiscal year, highlighted by the full FDA approval of its product Papzimeos (zopapogene imadenovec-drba) for the treatment of recurrent respiratory papillomatosis (RRP). The company generated total revenues of $9.7 million, a 146.7% increase from $3.9 million in 2024, primarily driven by $4.0 million in product revenues from Papzimeos, which was launched commercially in late 2025. Collaboration and licensing revenues also contributed $1.8 million, reflecting the recognition of deferred revenue from a terminated collaboration agreement. However, the company reported a net loss of $250.6 million, a substantial increase from a loss of $126.2 million in the previous year, largely due to a $139.5 million increase in the fair value of warrant liabilities and a deemed dividend of $179 million related to the conversion of preferred stock.

In terms of operational changes, Precigen has strategically prioritized its clinical pipeline, pausing enrollment in certain UltraCAR-T clinical trials (PRGN-3005 and PRGN-3007) while continuing to advance PRGN-2009, which is in Phase 2 trials for HPV-associated cancers. The company has also streamlined its operations, resulting in a 22.1% decrease in research and development expenses to $41.3 million, down from $53.1 million in 2024. Selling, general, and administrative expenses rose significantly by 69.8% to $70.1 million, reflecting increased costs associated with the commercialization of Papzimeos.

As of December 31, 2025, Precigen had cash and cash equivalents of $30.2 million, alongside short-term and long-term investments totaling $70.1 million. The company raised approximately $92.8 million through a term loan agreement in September 2025, which is expected to support its ongoing operations and commercialization efforts. Precigen's workforce consisted of 160 employees, with 140 dedicated to healthcare operations, including 47 in research and development.

Looking ahead, Precigen's future capital requirements are expected to be substantial, driven by the commercialization of Papzimeos and the advancement of its clinical programs. The company anticipates that its ability to generate revenue will increasingly depend on the successful launch and market acceptance of Papzimeos, as well as the progress of its other product candidates. The company is also preparing for regulatory submissions in international markets, including a Marketing Authorization Application to the European Medicines Agency for Papzimeos. However, the company faces significant risks, including competition from other therapies, regulatory challenges, and the need for ongoing funding to support its operations and product development.