Precigen Q3 PAPZIMEOS revenue rises, swings to profit
PGEN•Precigen said PAPZIMEOS net revenue grew 37% quarter-over-quarter in Q3, while net income reached $35.77 million versus a loss in the year-earlier period. The company also achieved positive cash flow ahead of its prior guidance.
1. Revenue and profit rise
Precigen reported that PAPZIMEOS net revenue increased 37% quarter-over-quarter in Q3. Net income was $35.77 million, compared with a loss in the prior-year period.
2. Cash flow and outlook
The company said it achieved positive cash flow in Q3 ahead of prior guidance, attributing the earlier-than-expected result to robust PAPZIMEOS uptake. Precigen expects continued revenue momentum as adoption grows and continues enrollment in a redosing study for adults with RRP. The EMA is reviewing the product’s marketing authorization application in Europe.
