Precigen (PGEN) investor relations material

Executive summary

• PAPZIMEOS, approved in August 2025 as the first and only FDA-approved therapy for adults with RRP, achieved a landmark first commercial launch with accelerating uptake and strong enthusiasm from both patients and physicians in Q1 2026.

• The company transitioned to a commercial-stage organization, with PAPZIMEOS now the primary revenue driver and broadly adopted across major medical centers and community practices.

• PAPZIMEOS is recommended as the new standard of care by a leading expert position paper, supported by strong clinical data showing durable efficacy.

• Patient hub enrollment reached approximately 400, with 25% from community settings, highlighting broad accessibility.

• Strategic pipeline prioritization led to pausing enrollment in certain clinical trials and the shutdown of ActoBio operations.

Financial highlights

• Q1 2026 net product revenue for PAPZIMEOS was $21.6 million, up from $3.4 million in Q4 2025, driving total Q1 2026 revenue to $23.3 million.

• Net loss for Q1 2026 was $7.9 million ($0.02 per share), a significant improvement from $54.2 million ($0.18 per share) in Q1 2025.

• Operating loss for Q1 2026 was $6 million, compared to $22.6 million in Q1 2025.

• R&D expenses were $5.6 million, down $4.8 million year-over-year, while SG&A expenses rose to $21 million, up $8.7 million due to commercial activities.

• Cash, cash equivalents, and investments totaled $56.7 million as of March 31, 2026, excluding $25.7 million in PAPZIMEOS accounts receivable.

Outlook and guidance

• Expectation of continued revenue acceleration and account activation into Q2 and beyond, with strong payer coverage and expanding community adoption.

• Cash position and receivables are projected to fund operations through cash flow break-even by end of 2026, with no anticipated need for additional capital.

• Management highlights ongoing momentum and expansion, with additional investments planned for clinical and pre-clinical pipeline progression.

• Majority of future revenues expected from PAPZIMEOS as commercial activities expand.

• R&D expenses projected to increase as development of PRGN-2009 and other programs progresses.