PRECIGEN, INC.
PGEN evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for PGEN—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · PGEN
Precigen, Inc. is a biopharmaceutical company focused on the development and commercialization of gene and cell therapies, with its first FDA-approved immunotherapy, Papzimeos, for recurrent respiratory papillomatosis (RRP), and a pipeline of preclinical and clinical programs in immuno-oncology, autoimmune disorders, and infectious diseases.
Key risk: Going concern uncertainty
BioSniper Score
Based on 5 of 6 signals
Financial data as of Jun 30, 2026.
Tracking 6 pipeline candidates · 4 clinical trials for PRECIGEN, INC..
Precigen, Inc. is a biopharmaceutical company focused on the development and commercialization of gene and cell therapies, with its first FDA-approved immunotherapy, Papzimeos, for recurrent respiratory papillomatosis (RRP), and a pipeline of preclinical and clinical programs in immuno-oncology, autoimmune disorders, and infectious diseases.
- Precigen has one FDA-approved product, Papzimeos, an immunotherapy for RRP, for which it began recognizing revenue in Q4 2025 [sec_mda · as of 2026-05-13].
- As of 2026-06-30, the company reported cash & equivalents of $16.3M, total revenue of $55.0M, net income of $20.1M, shareholders' equity of $20.9M, and total debt of $93.9M [sec].
- The company continues to conduct high-risk, early-stage R&D of product candidates, including programs such as PRGN-3005, PRGN-3006, PRGN-3007, PRGN-2009, and others [sec_mda · as of 2026-05-13].
- Precigen generates product and service revenues through its Exemplar subsidiary and from commercial sales of Papzimeos [sec_mda · as of 2026-05-13].
- The company faces substantial doubt about its ability to continue as a going concern for at least 12 months, as noted in its SEC filings [sec_mda · as of 2025-08-12].
What works
- Precigen has achieved a key milestone with FDA approval and commercial launch of Papzimeos, generating initial product revenue in Q4 2025 [sec_mda · as of 2026-05-13].
- The company reported positive net income of $20.1M as of 2026-06-30, indicating a period of profitability [sec].
- Precigen has a diversified pipeline targeting multiple therapeutic areas (immuno-oncology, autoimmune, infectious diseases) which may provide multiple shots on goal [sec_mda · as of 2026-05-13].
What to weigh
- The company has substantial debt of $93.9M relative to cash of $16.3M as of 2026-06-30, creating financial leverage risk [sec].
- Precigen's success depends on its ability to raise additional capital, and there is substantial doubt about its ability to continue as a going concern [sec_mda · as of 2025-08-12].
- The company is subject to risks typical of early-stage biotechs, including dependence on key personnel, intellectual property, and competition [sec_mda · as of 2026-08-04].
- Revenue from pipeline products (e.g., PRGN-2012 BLA) is uncertain, and the company may not generate sufficient revenue to offset operating expenses [sec_mda · as of 2025-08-12].
From the filings
Quoted directly from source documents.
Precigen has an FDA-approved product, Papzimeos, generating revenue.
“We continue to generate product and service revenues through our Exemplar subsidiary and from commercial sales of Papzimeos, our FDA‑approved immunotherapy for RRP (for which we began to recognize revenue in the fourth quarter of 2025).”
SEC MD&A · May 13, 2026
The company faces substantial doubt about its ability to continue as a going concern.
“These conditions raise substantial doubt about our ability to continue as a going concern for at least 12 months after the issuance of the accompanying condensed consolidated financial sta”
SEC MD&A · August 12, 2025
Precigen is subject to risks typical of companies launching a first commercial product.
“We are subject to a number of risks similar to those of other companies launching their first commercial product as well as conducting high-risk, early-stage research and development of product candidates.”
SEC MD&A · August 4, 2026
Precigen has a pipeline of preclinical and clinical programs.
“Prior to August 2024, the Company was progressing preclinical and clinical programs that targeted urgent and intractable diseases in our core therapeutic areas of immuno-oncology, autoimmune disorders, and infectious diseases, including PRGN-3005, PRGN-3006, PRGN-3007, PRGN-2009, PRGN-”
SEC MD&A · May 13, 2026
Risks & what to watch (4)›
Key risks
- Going concern uncertainty — Substantial doubt about ability to continue as a going concern for at least 12 months [sec_mda · as of 2025-08-12].
- High debt relative to cash — Total debt of $93.9M vs. cash of $16.3M as of 2026-06-30, creating financial risk [sec].
- Dependence on capital raising — Success depends on ability to raise additional capital to fund R&D and commercialization [sec_mda · as of 2026-08-04].
- Pipeline revenue uncertainty — Revenue from pipeline products (e.g., PRGN-2012 BLA) is uncertain and may not offset expenses [sec_mda · as of 2025-08-12].
What to watch
- Commercial adoption and revenue trajectory of Papzimeos for RRP [sec_mda · as of 2026-05-13].
- Progress and regulatory updates on pipeline candidates such as PRGN-2012 BLA [sec_mda · as of 2025-08-12].
- Ability to raise additional capital or secure partnerships to address going concern [sec_mda · as of 2026-08-04].
- Financial performance, particularly cash burn rate and debt management [sec].
Sources: SEC MD&A · Generated August 29, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 5 of 6 signals · derived from public data
11.1 months
D/E 2.91 · 16% dilution
Lead: Approved
6 candidates
No upcoming catalysts tracked
0 buys · 23 sells (180d)
Runway
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
202
Total value held
$444.7M
| Holder | Shares | Value |
|---|---|---|
| blackrock, inc. | 15,223,191 | $58.9M |
| vanguard capital management llc | 14,297,992 | $55.3M |
| state street corp | 10,890,124 | $42.1M |
| diametric capital, lp | 6,801,788 | $26.3M |
| tang capital management llc | 6,417,500 | $24.8M |
| geode capital management, llc | 4,613,429 | $17.9M |
| iridian asset management llc/ct | 3,592,730 | $13.9M |
| boxer capital management, llc | 3,500,000 | $13.5M |
| goldman sachs group inc | 3,350,477 | $13.0M |
| citadel advisors llc | 3,002,283 | $11.6M |
Showing top 10 of 202 institutional holders of PRECIGEN, INC.. Open the full 13F history after sign-in.
Short Interest
as of Apr 19, 2026- % of float
- 17.3%
- Days to cover
- 7.0
- Shares short
- 39,661,787
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
PGEN short interestGovernance
Frequently asked questions
What is the AI investment thesis for PRECIGEN, INC.?
Precigen, Inc. is a biopharmaceutical company focused on the development and commercialization of gene and cell therapies, with its first FDA-approved immunotherapy, Papzimeos, for recurrent respiratory papillomatosis (RRP), and a pipeline of preclinical and clinical programs in immuno-oncology, autoimmune disorders, and infectious diseases.
What is PRECIGEN, INC.'s lead drug candidate?
PRECIGEN, INC.'s most advanced tracked candidate is papzimeos (Approved) for recurrent respiratory papillomatosis (RRP).
Who is the CEO of PRECIGEN, INC.?
Dr. Helen Sabzevari MPH, Ph.D. is the chief executive officer of PRECIGEN, INC. (PGEN).
Where is PRECIGEN, INC. headquartered?
PRECIGEN, INC. (PGEN) is headquartered in Germantown, MD, United States.
What therapeutic areas does PRECIGEN, INC. focus on?
PRECIGEN, INC. develops therapies across Oncology, Gene Therapy, Respiratory.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.