On 10 March 2020, Precigen, Inc. (NASDAQ: PGEN) spotted trading -81.41% off 52-week high price. On the other end, the stock has been noted 29.37% away from the low price over the last 52-weeks. The stock changed 11.64% to recent value of $1.63. The stock transacted 1911998 shares during most recent day however it has an average volume of 1324.34K shares. The company has 191.44M of outstanding shares and 143.63M shares were floated in the market.

Precigen, Inc. (PGEN) recently reported its fourth quarter financial results for 2019.

Fourth Quarter 2019 Financial Results Contrast to PreviousYear Period

Total revenues reduced $24.2M from the quarter ended December 31, 2018. Alliance and licensing revenues reduced $24.6M, or 103%, from the quarter ended December 31, 2018 primarily Because of the reacquisition of rights before licensed to some of Precigen’s collaborators in the second half of 2018 and the result of which eliminated or substantially reduced revenues before generated from those collaborations. Additionally, alliance and licensing revenues from collaborations with other collaborators reduced Because of lower demand for research and development services in the current year period.

Research and development expenses reduced $252.2M, or 92%. The 2018 amounts include a $228.0M expense related to in-process research and development repurchased from former collaborators. Selling, general and administrative (SG&A) expenses increased $6.3M, or 28% which was primarily attributable to increased compensation expenses related to performance and retention incentives for SG&A employees, partially offset by (i) reduced share-based compensation expense which arose primarily from the departure of former employees during the first half of the current year; and (ii) fewer legal fees associated with the Company’s Trans Ova subsidiary. The Company also recorded a $29.6M goodwill impairment charge in the fourth quarter of 2019 related to its Trans Ova subsidiary.

Full Year 2019 Financial Results Contrast to Previous Year Period

Total revenues reduced $60.5M from the year ended December 31, 2018. Alliance and licensing revenues reduced $55.5M, or 80%, from the year ended December 31, 2018 primarily Because of the reacquisition of rights before licensed to some of Precigen’s collaborators in the second half of 2018 and the result of which eliminated or substantially reduced revenues before generated from those collaborations. Additionally, in 2018, the Company recognized additional revenues from the acceleration of before deferred revenue upon mutual termination of certain collaborations. Product revenues reduced $4.7M, or 17%, primarily Because of lower consumer demand in the beef and dairy industries resulting in fewer sales of pregnant cows and calf products. Gross margin on products also declined in the current period as a result of fewer products sold.

Research and development expenses reduced $264.4M, or 72%. The 2018 amounts include $236.7M of expenses related to in-process research and development repurchased from former collaborators. SG&A expenses reduced $24.9M, or 20%. SG&A salaries, benefits, and other personnel costs reduced $14.9M primarily Because of reduced share-based compensation expense as a result of the reversal of before recognized expense for unvested options granted to former employees as well as the conclusion of the vesting period for other before granted stock options. Legal and professional fees reduced $6.1M primarily Because of fewer legal fees associated with the Company’s Trans Ova subsidiary. The Company also recorded a $29.6M goodwill impairment charge in the fourth quarter of 2019 related to its Trans Ova subsidiary.

The price moved ahead of -50.42% from the mean of 20 days, -64.06% from mean of 50 days SMA and performed -72.14% from mean of 200 days price. Company’s performance for the week was -25.91%, -63.12% for month and YTD performance remained -70.26%.

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