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what it is
Precigen builds gene and cell therapies, then hopes clinical wins turn tiny revenue into an actual business.
how it gets paid
Last year Precigen made $4M in revenue. legacy and other revenue was the main engine at $4M, or 100% of sales.
what just happened
The clean takeaway is the loss: latest quarter EPS came in at -$1.36 in SEC-sourced data.
At a glance
B balance sheet — gets the job done, barely
45/100 earnings predictability — expect surprises
-$0.47 fy2024 eps est
$4M fy2024 rev est
1.75 beta
xvary composite: 40/100 — below average
What they do
Precigen builds gene and cell therapies, then hopes clinical wins turn tiny revenue into an actual business.
Precigen's edge is one platform that can feed multiple drug programs with just 143 employees. Synthetic biology (programming DNA) → building therapies from reusable parts → your bet is on one engine producing several shots on goal instead of one-off science projects.
How they make money
$4M
annual revenue
legacy and other revenue
$4M
45.5%
immuno-oncology pipeline
$0M
flat
autoimmune pipeline
$0M
flat
respiratory and orphan pipeline
$0M
flat
The products that matter
FDA-approved therapy
PAPZIMEOS
approved aug 2025
it's the first commercial drug in the portfolio, and 2026 is its first full year to prove whether approval can turn into actual revenue.
commercial
phase 3 candidate
PRGN-2012
2026 catalyst
this pipeline asset is still a core part of the story because analysts point to 2026 as a potential approval year. for a company with $6.31M in trailing revenue, the next program matters almost as much as the current one.
pipeline
Key numbers
$4M
2024 revenue est
That is the whole point: you are paying a roughly $1B market cap for a company expected to generate just $4M of revenue in 2024.
$93M
long-term debt
Debt this large against about $3M of trailing revenue means the balance sheet matters almost as much as the science.
45.5%
past sales growth
Sales are moving backward, not forward, which tells you this is still a funding-and-trial story.
1.75
beta
Beta (how violently a stock moves versus the market) → 1.75 means more turbulence → you should expect drama.
Financial health
B
strength
- balance sheet grade B — adequate — nothing special
- risk rank 4 — safer than 20% of stocks
- price stability 5 / 100
- long-term debt $93M (7% of capital)
B — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for PGEN right now.
source: institutional data · return history unavailable
What just happened
missed estimates
The clean takeaway is the loss: latest quarter EPS came in at -$1.36 in SEC-sourced data.
Quarterly losses stayed negative throughout 2024, but the Q4 figure improved to -$0.04 from -$0.13 a year earlier. Revenue remains too small to carry the story, with trailing revenue around $3M on Yahoo Finance.
$3M
revenue
-$1.36
eps
63.28%
revenue vs. last year
the number that mattered
The number that matters is -$1.36 because it shows the business is still deep in loss territory while revenue stays tiny.
source: company filings and market data, 2026
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What could go wrong
the top risk here is PAPZIMEOS commercialization with negative gross margin. Precigen already has approval. Now it has to prove the approved product can produce economics that justify a $1.24B valuation.
med
negative gross margin
Trailing gross margin is -8.7%. In plain English: the product is not yet generating positive unit economics.
That means every revenue dollar is still carrying pressure instead of relief. Until this crosses above 0%, scale alone does not fix the story.
med
commercial execution risk
PAPZIMEOS was approved in august 2025, and 2026 is the first full year to show what demand really looks like.
If quarterly revenue stays around the current $4M level, the market will have to confront how much future sales it already pulled into the valuation.
med
pipeline dependence
PRGN-2012 remains a key part of the narrative, with 2026 viewed as a potential approval year.
A delay or setback would leave investors valuing one approved product and $6.31M of trailing revenue at roughly $1.24B.
med
financing and volatility
The company added $125M of non-dilutive financing in september 2025 and carries $93M of long-term debt, while price stability sits at 5 / 100.
You are not getting a calm funding profile here. If commercialization drags, financing risk comes back to the front of the story fast.
A newly approved drug with negative gross margin can still become a good business. It just is not one yet, and the stock price already assumes a lot of progress.
source: institutional data · regulatory filings · risk analysis
Pay attention to
earnings
full year 2025 earnings on march 25, 2026
You want the revenue line, but you need the margin line. A launch story without improving economics is just a louder loss statement.
unit economics
gross margin moving above 0%
The current reading is -8.7%. Until that flips positive, commercialization is happening on paper more than in economics.
sales trend
whether revenue steps up from the current $4M quarterly level
A 206.6% growth print looks dramatic. The absolute number still matters more because the starting base was tiny.
pipeline risk
PRGN-2012 timing in 2026
This is the next major proof point after PAPZIMEOS. If the pipeline slips, investors are left with one commercial asset and a very rich sales multiple.
Analyst rankings
earnings predictability
45 / 100
in human-speak, analysts do not expect a smooth line here. early commercial biotech numbers can swing hard on timing, launch spend, and milestone noise.
beta
1.75
Beta measures how much a stock tends to move versus the market. At 1.75, PGEN has historically moved with extra drama.
source: institutional data
Institutional activity
institutional ownership data for PGEN is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$5
current price
n/a
target midpoint · n/a from current
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