PRECIGEN, INC.
PGEN · Pharmaceutical Preparations · 356.5M shares · +12%/yr ↑ dilution · EDGAR filings ↗
Reference price $4.36 · est. market cap ~$1.6B — last insider sale, 2026-05-28 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D44Clinical/early-stage biotech — gene-therapy (PRGN-2012), heavy burn, leverage.
Strengths
- Liquidity — current ratio 3.1 (42nd)
Risks
- Pre-revenue, deep losses — per metrics
- Pre-revenue/clinical-stage — history of losses & need for capital per risk factors
- Binary clinical & funding risk — per 10-K
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- High leverageHigh leverage (debt/equity 4.46)
- Net lossNet loss (net margin -2588.2%)
- Cash burnNegative free cash flow (-89.8M)
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Chronic dilutionShare count +12%/yr over 4y (dilution, book value/share -88%)
- Insider sellingInsider selling — 16 open-market sale(s) by 6 insider(s) (cluster of 6 insiders, ~$17M, last 6mo) Form 4 ↗
- Notable holderHeld by 4 notable fund(s): STATE STREET CORP, GOLDMAN SACHS GROUP INC, CITADEL ADVISORS LLC +1 more (as of 2026-03-31)
- Trial readout soonUpcoming trial readout ~2026-11-11 — PHASE2 · Cervical Cancer
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
-1141.1%
Net margin
-2588.2%
Return on equity
-1198.6%
Return on assets
-161.2%
ROIC
-76.5%
Revenue growth (QoQ)
146.7%
Debt / equity
4.5×
Current ratio
3.1×
Free cash flow
-$90M
EBITDA
-$107M
Tangible book value
$2M
Cash & investments
$103M
Cash runway
5q
Stock comp / revenue
112.2%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-28 | Tennant Phil | Sell | 30K | $4.36 |
| 2026-05-28 | Shah Rutul R | Sell | 43K | $4.36 |
| 2026-05-28 | Lehr Donald P. | Sell | 29K | $4.36 |
| 2026-05-28 | Sabzevari Helen | Sell | 119K | $4.36 |
| 2026-05-28 | Thomasian Harry Jr. | Sell | 42K | $4.36 |
| 2026-05-23 | Tennant Phil | Option exercise | 62K | — |
| 2026-05-23 | Shah Rutul R | Option exercise | 90K | — |
| 2026-05-23 | Sabzevari Helen | Option exercise | 250K | — |
| 2026-05-23 | Lehr Donald P. | Option exercise | 62K | — |
| 2026-05-23 | Thomasian Harry Jr. | Option exercise | 88K | — |
| 2026-03-30 | KIRK RANDAL J | Sell | 2.3M | $3.30 |
| 2026-03-30 | KIRK RANDAL J | Sell | 51K | $3.30 |
| 2026-03-30 | KIRK RANDAL J | Sell | 371K | $3.30 |
| 2026-03-30 | KIRK RANDAL J | Sell | 152K | $3.30 |
| 2026-03-30 | KIRK RANDAL J | Sell | 51K | $3.30 |
| 2026-03-30 | KIRK RANDAL J | Sell | 426K | $3.30 |
| 2026-03-30 | KIRK RANDAL J | Sell | 169K | $3.30 |
| 2026-03-30 | KIRK RANDAL J | Sell | 47K | $3.30 |
| 2026-03-30 | KIRK RANDAL J | Sell | 39K | $3.30 |
| 2026-03-30 | KIRK RANDAL J | Sell | 24K | $3.30 |
| 2026-03-30 | KIRK RANDAL J | Sell | 1.1M | $3.30 |
| 2026-03-18 | Thomasian Harry Jr. | Option exercise | 40K | — |
| 2026-03-18 | Tennant Phil | Option exercise | 42K | — |
| 2026-03-18 | Sabzevari Helen | Option exercise | 321K | — |
| 2026-03-18 | Shah Rutul R | Option exercise | 44K | — |
| 2026-03-18 | Lehr Donald P. | Option exercise | 40K | — |
| 2026-03-13 | KIRK RANDAL J | Option exercise | 144K | — |
| 2026-03-13 | AGEE NANCY H | Option exercise | 72K | — |
| 2026-03-13 | ALVAREZ CESAR L | Option exercise | 72K | — |
| 2026-03-13 | Frank Steven | Option exercise | 72K | — |
| 2026-03-13 | Gupta Vinita D | Option exercise | 72K | — |
| 2026-03-13 | Hassan Fred | Option exercise | 72K | — |
| 2026-03-13 | KINDLER JEFFREY B | Option exercise | 72K | — |
| 2026-03-13 | Turley James S | Option exercise | 72K | — |
| 2026-03-10 | KIRK RANDAL J | Grant | 28K | $3.51 |
| 2026-03-10 | Turley James S | Grant | 18K | $3.51 |
| 2026-03-10 | KINDLER JEFFREY B | Grant | 20K | $3.51 |
| 2026-03-10 | Hassan Fred | Grant | 18K | $3.51 |
| 2026-03-10 | Gupta Vinita D | Grant | 18K | $3.51 |
| 2026-03-10 | Frank Steven | Grant | 14K | $3.51 |
| 2026-03-10 | ALVAREZ CESAR L | Grant | 18K | $3.51 |
| 2026-03-10 | AGEE NANCY H | Grant | 16K | $3.51 |
| 2025-12-22 | KIRK RANDAL J | Sell | 956K | $4.18 |
| 2025-12-22 | KIRK RANDAL J | Sell | 555K | $4.18 |
| 2025-12-22 | KIRK RANDAL J | Sell | 13K | $4.18 |
| 2025-12-22 | KIRK RANDAL J | Sell | 94K | $4.18 |
| 2025-12-22 | KIRK RANDAL J | Sell | 39K | $4.18 |
| 2025-12-22 | KIRK RANDAL J | Sell | 13K | $4.18 |
| 2025-12-22 | KIRK RANDAL J | Sell | 159K | $4.18 |
| 2025-12-22 | KIRK RANDAL J | Sell | 43K | $4.18 |
| 2025-12-22 | KIRK RANDAL J | Sell | 12K | $4.18 |
| 2025-12-22 | KIRK RANDAL J | Sell | 9.9K | $4.18 |
| 2025-12-22 | KIRK RANDAL J | Sell | 6.0K | $4.18 |
| 2025-12-12 | KINDLER JEFFREY B | Sell | 235K | $3.63 |
| 2025-11-21 | KIRK RANDAL J | Sell | 937K | $3.83 |
| 2025-11-20 | KIRK RANDAL J | Sell | 943K | $4.08 |
| 2025-11-19 | KIRK RANDAL J | Sell | 1.1M | $4.47 |
| 2025-09-30 | KINDLER JEFFREY B | Sell | 107K | $3.38 |
| 2025-09-30 | KIRK RANDAL J | Sell | 1.8M | $3.41 |
| 2025-09-29 | KINDLER JEFFREY B | Sell | 68K | $3.60 |
| 2025-09-29 | Tennant Phil | Buy | 6.0K | $3.58 |
| 2025-09-26 | Shah Rutul R | Buy | 2.0K | $3.40 |
| 2025-09-26 | Thomasian Harry Jr. | Buy | 2.9K | $3.42 |
| 2025-09-25 | Thomasian Harry Jr. | Buy | 8.3K | $3.62 |
| 2025-09-19 | KIRK RANDAL J | Sell | 3.6M | $3.68 |
| 2025-09-18 | KIRK RANDAL J | Sell | 1.4M | $3.86 |
| 2025-09-17 | KIRK RANDAL J | Option exercise | 17.4M | — |
| 2025-09-04 | AGEE NANCY H | Buy | 15K | $4.60 |
| 2025-08-28 | AGEE NANCY H | Buy | 11K | $4.65 |
| 2025-08-19 | AGEE NANCY H | Buy | 15K | $3.20 |
| 2025-07-05 | AGEE NANCY H | Option exercise | 127K | — |
| 2025-05-16 | Tennant Phil | Option exercise | 66K | — |
| 2025-05-16 | Shah Rutul R | Option exercise | 174K | — |
| 2025-05-16 | Shah Rutul R | Tax withheld | 58K | $1.45 |
| 2025-05-16 | Tennant Phil | Tax withheld | 23K | $1.45 |
| 2025-05-16 | Lehr Donald P. | Option exercise | 165K | — |
| 2025-05-16 | Lehr Donald P. | Tax withheld | 55K | $1.45 |
| 2025-05-16 | Thomasian Harry Jr. | Option exercise | 154K | — |
| 2025-05-16 | Thomasian Harry Jr. | Tax withheld | 51K | $1.45 |
| 2025-05-16 | Sabzevari Helen | Option exercise | 1.1M | — |
| 2025-05-16 | Sabzevari Helen | Tax withheld | 521K | $1.45 |
| 2025-03-14 | Turley James S | Option exercise | 87K | — |
| 2025-03-14 | KIRK RANDAL J | Option exercise | 175K | — |
| 2025-03-14 | KINDLER JEFFREY B | Option exercise | 87K | — |
| 2025-03-14 | Hassan Fred | Option exercise | 87K | — |
| 2025-03-14 | Frank Steven | Option exercise | 87K | — |
| 2025-03-14 | Gupta Vinita D | Option exercise | 87K | — |
| 2025-03-14 | ALVAREZ CESAR L | Option exercise | 87K | — |
| 2025-03-13 | ALVAREZ CESAR L | Grant | 36K | $1.74 |
| 2025-03-13 | KIRK RANDAL J | Grant | 57K | $1.74 |
| 2025-03-13 | AGEE NANCY H | Grant | 32K | $1.74 |
| 2025-03-13 | Gupta Vinita D | Grant | 36K | $1.74 |
| 2025-03-13 | Hassan Fred | Grant | 36K | $1.74 |
| 2025-03-13 | Turley James S | Grant | 36K | $1.74 |
| 2025-03-13 | KINDLER JEFFREY B | Grant | 40K | $1.74 |
| 2025-03-13 | Frank Steven | Grant | 29K | $1.74 |
| 2025-01-29 | Tennant Phil | Grant | 25K | — |
| 2025-01-29 | Tennant Phil | Tax withheld | 9.4K | $1.30 |
| 2025-01-29 | Shah Rutul R | Grant | 125K | — |
| 2025-01-29 | Shah Rutul R | Tax withheld | 47K | $1.30 |
| 2025-01-29 | Lehr Donald P. | Grant | 54K | — |
| 2025-01-29 | Lehr Donald P. | Tax withheld | 21K | $1.30 |
| 2025-01-29 | Thomasian Harry Jr. | Grant | 125K | — |
| 2025-01-29 | Sabzevari Helen | Grant | 825K | — |
| 2025-01-29 | Sabzevari Helen | Tax withheld | 287K | $1.30 |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT06538480 ↗ | Zopa Retreatment and Vector Shedding in Adults With RRP Recurrent Respiratory Papillomatosis, Papillomavirus Infection | PHASE4 | Recruiting | 2027-12-02 |
| NCT06157151 ↗ | PRGN-2009 in Combination With Pembrolizumab in Patients With Recurrent or Metastatic Cervical Cancer Cervical Cancer, HPV-Related Carcinoma | PHASE2 | Recruiting | 2026-11-11 |
| NCT03907527 ↗ | Modified Immune Cells (Autologous CAR T Cells) in Treating Patients with Advanced, Recurrent Platinum Resistant Ovarian, Fallopian Tube or Primary Peritoneal Cancer Platinum-Resistant Fallopian Tube Carcinoma, Platinum-Resistant Ovarian Carcinoma | PHASE1 | Active Not Recruiting | 2024-12-15 |
| NCT03927261 ↗ | PRGN-3006 Adoptive Cellular Therapy for CD33-Positive Relapsed or Refractory AML, MRD Positive AML or Higher Risk MDS Acute Myeloid Leukemia, Myelodysplastic Syndromes | PHASE1 | Active Not Recruiting | 2024-08-01 |
| NCT04724980 ↗ | Adjuvant PRGN-2012 in Adult Patients With Recurrent Respiratory Papillomatosis Recurrent Respiratory Papillomatosis, Papillomavirus Infections | PHASE1/PHASE2 | Active Not Recruiting | 2024-06-05 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Supply chain
Customers (1)
Suppliers (0)
Named in the 10-K; linked when we track them.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-24 | Exec/director changeShareholder voteExhibits | filing ↗ |
| 2026-05-13 | ResultsExhibits | filing ↗ |
| 2026-03-25 | ResultsExhibits | filing ↗ |
| 2025-11-13 | ResultsExhibits | filing ↗ |
| 2025-09-17 | 3.02 | filing ↗ |
| 2025-09-03 | Material agreementDebt obligationReg FDExhibits | filing ↗ |
| 2025-08-18 | Reg FDExhibits | filing ↗ |
| 2025-08-18 | Material agreementExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-24 | 2026-06-18 | 0000950103-26-009441 ↗ |
| 8-K | 2026-05-13 | 2026-05-13 | 0000950103-26-007158 ↗ |
| 10-Q | 2026-05-13 | 2026-03-31 | 0001356090-26-000017 ↗ |
| 8-K | 2026-03-25 | 2026-03-25 | 0000950103-26-004648 ↗ |
| 10-K | 2026-03-25 | 2025-12-31 | 0001356090-26-000009 ↗ |
| 10-Q | 2025-11-13 | 2025-09-30 | 0001356090-25-000034 ↗ |
| 8-K | 2025-11-13 | 2025-11-13 | 0000950103-25-014683 ↗ |
| 8-K | 2025-09-17 | 2025-09-15 | 0000950103-25-011775 ↗ |
| 8-K | 2025-09-03 | 2025-09-03 | 0001104659-25-086669 ↗ |
| 8-K | 2025-08-18 | 2025-08-18 | 0001104659-25-079497 ↗ |
| 8-K | 2025-08-18 | 2025-08-13 | 0000950103-25-010408 ↗ |
| 10-Q | 2025-08-12 | 2025-06-30 | 0001356090-25-000024 ↗ |