Precigen (NASDAQ:PGEN) spotted trading -63.28% off 52-week high price. On the other end, the stock has been noted 155.56% away from the low price over the last 52-weeks. The stock changed -4.45% to recent value of $3.22. The stock transacted 624268 shares during most recent day however it has an average volume of 1.24M shares. The company has 193.21M of outstanding shares and 143.25M shares were floated in the market.
On May 06, 2020, Precigen (NASDAQ:PGEN) a biopharmaceutical company specializing in the development of innovative gene and cell therapies to improve the lives of patients, disclosed first quarter financial results for 2020.
First Quarter Business Highlights:
- PRGN-2009 AdenoVerse™ Immunotherapy: Precigen announced that the US Food and Drug Administration (FDA) cleared the Investigational New Drug (IND) application to initiate a Phase 1/2 trial for PRGN-2009, a first-in-class, off-the-shelf investigational immunotherapy utilizing the AdenoVerse™ platform and designed to activate the immune system to recognize and target HPV-positive solid tumors. The Phase 1 portion of the study will follow a 3+3 dose escalation design to evaluate the safety of PRGN 2009 administered as a monotherapy and to determine the recommended Phase 2 dose (R2PD) followed by an evaluation of the safety of the combination of PRGN-2009 at the R2PD and bintrafusp alfa (M7824), an investigational bifunctional fusion protein, in patients with recurrent or metastatic HPV-associated cancers;
- PRGN-3005 UltraCAR-T®: Dosing in the second dose level of the intraperitoneal (IP) arm of the Phase 1 trial of PRGN-3005 UltraCAR-T was completed;
- PRGN-3006 UltraCAR-T®: Enrollment of patients in the non-lymphodepletion and lymphodepletion arms of the Phase 1 trial of PRGN-3006 UltraCAR-T, has been unaffected by the COVID-19 pandemic to date. The IND has been amended, and the FDA has allowed for concurrent dosing of patients in both arms; and
- In order to further Precigen’s efforts to focus resources on its healthcare programs and as a result of market uncertainty driven by the COVID-19 pandemic and the current state of the energy sector, MBP Titan LLC, a wholly-owned subsidiary of Precigen focused on methane bioconversion, has significantly reduced its resource requirements through a workforce reduction. These actions will significantly decrease cash burn while maintaining intellectual property.
First Quarter 2020 Financial Highlights:
- Total revenues of $29.8 million;
- Net loss from continuing operations attributable to Precigen of $29.9 million, or $(0.19) per basic share, of which $8.7 million was for non-cash charges; and
- Cash, cash equivalents, and short-term investments totaled $149.2 million at March 31, 2020.
Its earnings per share (EPS) expected to touch remained 57.60% for this year while earning per share for the next 5-years is expected to reach at 2.40%. PGEN has a gross margin of 32.30%.
According to the most recent quarter its current ratio was 1.9 that represents company’s ability to meet its current financial obligations. The price moved ahead of 0.09% from the mean of 20 days, 6.07% from mean of 50 days SMA and performed -37.61% from mean of 200 days price. Company’s performance for the week was -4.26%, 19.08% for month and YTD performance remained -38.50%.