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PGEN - Precigen eases fears of exposure to Silicon Valley Bank crisis
Precigen Inc.
2023-03-13 06:34:29 ET
Precigen ( NASDAQ: PGEN ) disclosed in a SEC filing on Monday that it has "minimal exposure" to Silicon Valley Bank (SVB), which failed Friday and was closed down by California .
Despite the bank's closure, the biotechnology company reaffirmed its estimate that its cash, cash equivalents, and short-term investments will be sufficient to fund its planned clinical priorities into late 2024.
Shares of the Maryland-based firm were down 4% premarket