Precigen Reports $2.9M Revenue Growth and $146.3M Net Loss in Q3 2025

Precigen, Inc. reported significant financial developments in its latest 10-Q filing for the quarter ending September 30, 2025. The company generated total revenues of $2.9 million for the third quarter, a substantial increase from $953,000 in the same period last year. This growth was primarily driven by collaboration and licensing revenues of $1.8 million, which were recognized following the termination of an exclusive channel collaboration agreement with PTC Therapeutics. Product revenues also saw a notable rise, reaching $162,000 compared to $66,000 in the prior year, while service revenues increased slightly to $942,000 from $886,000.

Despite the revenue growth, Precigen reported a net loss of $146.3 million for the third quarter, compared to a loss of $24 million in the same quarter of 2024. The increase in losses was attributed to a significant rise in operating expenses, which totaled $37.4 million, up from $22.2 million a year earlier. This increase was largely due to a 144% rise in selling, general, and administrative expenses, reflecting heightened costs associated with the commercial readiness of its newly approved product, Papzimeos, as well as increased employee-related costs linked to performance stock units that vested upon FDA approval.

In terms of strategic developments, Precigen transitioned to a commercial-stage company following the FDA's full approval of Papzimeos in August 2025, marking a pivotal shift in its operational focus. The approval allows the company to capitalize on its first commercial product, which is expected to significantly impact future revenue streams. Additionally, the company has streamlined its operations by ceasing the activities of its subsidiary, ActoBio, and focusing resources on its core therapeutic areas, including immuno-oncology and infectious diseases.

Operationally, Precigen's total assets increased to $171.3 million as of September 30, 2025, up from $145.3 million at the end of 2024. The company reported cash and cash equivalents of $14.3 million, alongside short-term investments of $106.8 million. The company’s long-term debt stood at $92.9 million following a new loan agreement established in September 2025, which is expected to support the commercialization of Papzimeos and other corporate needs. Looking ahead, Precigen anticipates that the successful launch of Papzimeos will be crucial for achieving profitability, although it may require additional capital to support ongoing operations and development efforts.