PGEN - Precigen GAAP EPS of -$0.09 beats by $0.05 revenue of $2.91M
- Precigen press release ( NASDAQ: PGEN ): Q2 GAAP EPS of -$0.09 beats by $0.05 .
- Revenue of $2.91M (-23.8% Y/Y).
- "The transaction to sell Trans Ova Genetics, which is expected to close in Q3 2022, will provide Precigen with $170 million in cash up-front and up to a $10 million earn-out over the next two years. The proceeds from this sale will fortify our balance sheet and provide non-dilutive funds to pay our convertible notes, which we intend to do when due," said Harry Thomasian Jr., CFO of Precigen. "We believe that our cash on hand and cost reduction initiatives, taking into account our plan for our convertible notes, give us enough runway to advance our clinical priorities into Q4 2023."
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Precigen GAAP EPS of -$0.09 beats by $0.05, revenue of $2.91M